SOMM

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 .