Sommelier

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

TVL is calculated as the sum of deposits invested into the strategy, deposits waiting to be invested, and yield waiting to be reinvested or redistributed across all Cellars.

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Sommelier's governance or utility token carries a market capitalisation of $173K based on circulating supply at the latest DeFiLlama snapshot. The token's market cap ($173K) is small relative to deposits secured by the protocol ($1.1M); a mcap/TVL multiple of 0.15× is sometimes read as a discount, though it can also reflect minimal fee accrual to the token.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Sep 30, 2022
   Listed on DeFiLlama
2. Jul 13, 2023
   Real Yield BTC Cellar Launch
3. Apr 11, 2023
   Real Yield ETH Cellar Launch
4. Jan 25, 2023
   Real Yield USD Cellar Launch
5. Jul 21, 2022
   aave2 Cellar Launch

Sommelier operates in the Onchain Capital Allocator category of DeFi. It is deployed across 3 chains, including Ethereum, Arbitrum, Optimism. The codebase has been independently audited (2 reports on file). DeFiLlama tracks 4 historical events for this protocol since 2022.

Sommelier operates on 3 networks (Ethereum, Arbitrum, Optimism), keeping its surface area narrower than chain-agnostic peers. Roughly 100% of its on-chain value sits on just three networks (Ethereum, Arbitrum, Optimism), so a fault on any one of them would affect a large slice of users. Price feeds come from a single oracle provider (Chainlink); an outage or manipulation of that feed would propagate into every market the protocol prices. Two audit reports are published on DeFiLlama, which is in line with typical practice for protocols at this scale. Its token market cap ($173K) is small relative to TVL ($1.1M) — a mcap/TVL ratio of 0.15 is often read as the token being structurally undervalued versus the activity it secures.

Verified external resources for Sommelier — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Sommelier is one of 7 Onchain Capital Allocator protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Spark Liquidity Layer, Veda, Concrete, and 3 more. These peer protocols collectively secure $5.1B in deposits, giving you a frame of reference for whether Sommelier's own TVL is at the top, middle, or tail of the category.

Spark Liquidity Layer

TVL $1.5B · 24h +4.19%

Veda

TVL $1.3B · 24h +0.19%

Concrete

TVL $1.1B · 24h +0.85%

ether.fi Liquid

TVL $496.6M · 24h +0.67%

Upshift

TVL $326.9M · 24h -0.94%

Mellow Core

TVL $296.1M · 24h +4.47%