San Francisco based blockchain protocol and Ethereum bridge raised $3.5m in Seed funding led by Standard Crypto.
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Sommelier raises $3.5m in Seed funding
Founded in 2020 by Zaki Manian, a lead developer on the Cosmos protocol and Tendermint, and a team of Ethereum and Cosmos developers Sommelier is a coprocessor for DeFi traders and Liquidity Providers (LPs). It consists of the Cosmos Stargate SDK, its Tendermint-based consensus layer and a decentralized, bi-directional Ethereum bridge, managed by a global network of validators. Liquidity Providers will be able to use the Sommelier to author and execute complex, and automated financial transactions, such as portfolio rebalancing, limit orders, as well as a host of other features that token holders have come to expect from CeFi, but that are not currently available in DeFi.
