SOMM to TRY Converter
How much Turkish lira ( TRY) is 1 Sommelier ( SOMM)?
Sommelier
SOMM
Turkish lira
TRY
Last update: Refresh
How does it work?
The Morpher currency calculator allows you to convert a currency from Sommelier (SOMM)
to Turkish lira (TRY) in just a few clicks at live exchange rates.
Simply enter the amount of Sommelier you wish to convert to TRY and the
conversion amount automatically populates. You can also use our Prices Calculator Table to calculate how much your currency is worth in other
denomination, i.e. 1 SOMM, 5 SOMM, 10 SOMM, 50 SOMM etc.
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Quick facts about Sommelier
Sommelier is a non-custodial, cross-chain platform for executing actively-managed DeFi investment strategies.
Community members can create Cellars that execute on an investment strategy through smart contracts.
Cellars are powered by Strategy Providers (SPs) who develop trading strategies and send the recommended actions to the Sommelier Validators to be executed on the Cellar with the intention of gaining yield. Cellars can be strategies like: A portfolio of BTC and ETH that is rebalanced based on price trends that machine learning algorithms identify An NFT trading strategy that leverages Twitter sentiment around particular collections A strategy that hedges liquidity provision on DEXes Sommelier employs a unique architecture consisting of the Sommelier Cosmos SDK blockchain, an off-chain execution environment that keeps strategies private while allowing them to leverage a wide variety of off-chain data modeling techniques, and one of the best performing ETH bridges.
Strategy instructions are passed across this bridge to reposition assets in Cellars.
This bridge is also being expanded to allow access to other chains (like Polygon, Avalanche, etc) so strategies are not tied to just high gas ETH markets. Sommelier aggregates and batches transactions, thereby reducing gas fees, providing an attractive alternative to Ethereum’s high transaction costs.
As for security, Sommelier uses a decentralized governance mechanism run by validators, ensuring state-of-the-art safety of user funds.
Validators pass strategy instructions across the bridge, but users’ assets are never moved across it, instead being deployed directly into Cellars.
Further, Cellars are non-custodial, meaning that users can withdraw their assets at any time, while strategy providers never have ownership of those assets.
Community members can create Cellars that execute on an investment strategy through smart contracts.
Cellars are powered by Strategy Providers (SPs) who develop trading strategies and send the recommended actions to the Sommelier Validators to be executed on the Cellar with the intention of gaining yield. Cellars can be strategies like: A portfolio of BTC and ETH that is rebalanced based on price trends that machine learning algorithms identify An NFT trading strategy that leverages Twitter sentiment around particular collections A strategy that hedges liquidity provision on DEXes Sommelier employs a unique architecture consisting of the Sommelier Cosmos SDK blockchain, an off-chain execution environment that keeps strategies private while allowing them to leverage a wide variety of off-chain data modeling techniques, and one of the best performing ETH bridges.
Strategy instructions are passed across this bridge to reposition assets in Cellars.
This bridge is also being expanded to allow access to other chains (like Polygon, Avalanche, etc) so strategies are not tied to just high gas ETH markets. Sommelier aggregates and batches transactions, thereby reducing gas fees, providing an attractive alternative to Ethereum’s high transaction costs.
As for security, Sommelier uses a decentralized governance mechanism run by validators, ensuring state-of-the-art safety of user funds.
Validators pass strategy instructions across the bridge, but users’ assets are never moved across it, instead being deployed directly into Cellars.
Further, Cellars are non-custodial, meaning that users can withdraw their assets at any time, while strategy providers never have ownership of those assets.
SOMM Price Chart
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SOMM to TRY price stats
24hr
1.50%
7d
-22.60%
30d
7.41%
Over the past 30 days, Sommelier has gained 7.41% to TRY. The trend and price charts for the past
week shows that SOMM has dropped -22.60% to TRY and over the past 24 hours, SOMM has gained 1.50% to
TRY.