Gate.io AMA with Sommelier-Bringing Transparent Portfolio Management to the Masses

2023-03-16, 06:15

Time: Mar 15th, 2023, 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Co-Founder of Sommelier,Zaki Manian in the Twitter Space.
Official Website: https://www.sommelier.finance/
Twitter: https://twitter.com/sommfinance
Follow Sommelier on Discord and Telegram

Guest

Zaki Manian — Co-Founder of Sommelier

Q&A from Gate.io

Q1: What is Sommelier?

Zaki: Sommelier is a protocol for decentralized asset management specializing in dynamic, automated DeFi vaults. Sommelier is built on the Cosmos SDK to maximize interoperability with other blockchains, and the platform is a reimagined gateway into interchain DeFi. With a bridge in place connecting the Cosmos-based platform to Ethereum, Sommelier will be able to ute strategies across multiple blockchains, opening a wide horizon of possibilities.

Q2: What is the purpose of the SOMM token?

Zaki: The SOMM token is the native token of Sommelier and is staked to secure the SOMM blockchain, pay gas fees and participate in protocol governance.

Q3: How are Sommelier vaults different from other DeFi vaults?

Zaki: Sommelier vaults are different because they are dynamic while other vaults are passive. By dynamic, we mean that Sommelier vaults can predict, react, optimize and evolve to DeFi markets.

Q4: How much has the Sommelier grown?

Zaki: Sommelier underwent a major technology upgrade in January of this year. As a result, Sommelier has grown to over $15M in TVL.

Q5: What’s next for Sommelier?

Zaki: Right now we only serve Ethereum DeFi, so the next step for us is going multi-chain to serve other EVM-compatible ecos.

Author: Rio Fu., Gate.io Community

*This article represents only the views of the researcher and does not constitute any investment suggestions.

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