$ 0.0075 USD
$ 0.0075 USD
$ 3.736 million USD
$ 3.736m USD
$ 530,905 USD
$ 530,905 USD
$ 3.7 million USD
$ 3.7m USD
0.00 0.00 SOMM
Issue Time
2023-02-23
Platform pertained to
--
Current coin price
$0.0075USD
Market Cap
$3.736mUSD
Volume of Transaction
24h
$530,905USD
Circulating supply
0.00SOMM
Volume of Transaction
7d
$3.7mUSD
Change
24h
0.00%
Number of Markets
16
Current Rate0
0.00USD
3H
0.00%
1D
0.00%
1W
0.00%
1M
-48.62%
1Y
-96.07%
All
-97.88%
SOMM, the native token of the Sommelier platform, is designed to facilitate the ecosystem's governance and reward mechanisms. Sommelier is a coprocessor for Ethereum that aims to enhance the efficiency of DeFi yield farming through automated market-making strategies and a unique tokenomics system .
The platform allows users to create 'Cellars,' which are investment strategies executed via smart contracts. These Cellars can automatically rebalance portfolios to optimize yield, providing a more efficient way to manage liquidity and capture profits .
SOMM tokens are used for various purposes, including fee payments, rewards, and governance. They can be staked by users to earn a share of the platform's revenue, which includes trading fees and other earnings generated by the Cellars .
As of recent data, the circulating supply of SOMM is approximately 301 million tokens, with a maximum supply capped at 500 million. The token has experienced significant price movements, reflecting the volatility common in the cryptocurrency market .
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