Sommelier: $SOMM Staking Guide

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Sommelier is a “Coprocessor for Ethereum” with the ability to automate user portfolios to maximize their yields. The protocol can be seen as a simple tool that optimizes yields for DeFi users. Liquidity providers are in a constant search for the highest yield liquidity pools for their portfolio and Sommelier solves that problem by automating everything. 

If you want to read more about Sommelier you can refer to our previous article here. To get users started, Sommelier is Airdropping 15MM SOMM tokens from the 150MM Sommelier Community Pool to Liquidity Providers on Sommelier Pairings, Uniswap, and Osmosis based on liquidity participation levels. 

Airdrop Snapshot Date: Oct 31, 2021


You will receive SOMM tokens if you qualify in one of the following groups:

  • Sommelier Pairings dApp Liquidity providers for Uniswap V2 and V3
  • Uniswap V3 Liquidity providers
  • Osmosis liquidity providers 

Factors taken into account when determining airdrop amount:

  • Address participation
  • Liquidity size participation
  • Liquidity duration participation 

Check eligibility here

The 15m SOMM will be distributed according to the following distribution:

Now that we have the Airdrop sorted, you can now start staking! 

In this guide we will cover how to stake using the Keplr wallet.

Staking $SOMM: Step by Step Guide

You can access Keplr via Google Chrome extension or the desktop app. If you are curious on how to create a Keplr wallet, please refer to our guide here

You will have to start at the Keplr Dashboard. Click here.

Once you’re on the dashboard you will see a list of all networks supported by the Keplr wallet like below, click Sommelier:

You will see a drop down menu and should see your available SOMM (top left):

Click “Stake” and you will see a list of all Active Validators. Click Manage to proceed. 

Figment Validator Address: sommvaloper1lexs4myxfp7k6n685qp6tw6mddkr2wetwddm2p

You will now see a “Delegate” button, proceed and you will see this: 

NOTE: It is worth keeping in mind that the staked asset will be locked for min. 21 days.

Choose how much you want to delegate, click “Delegate” and you will see a Keplr pop-up asking you to “Approve” the transaction: 

Click “Approve” and you're done!! 

You should see your staked SOMM in the dashboard like this. Congratulations! You have successfully staked SOMM to Figment. 

Sommelier Rewards: 

It's important to keep in mind that there is no inflation, HOWEVER, no inflation does not mean you will not earn any rewards. Sommelier uses a unique method of reward distribution generated through their use of Cellars. In simple terms, Cellars are Ethereum smart contracts used to rebalance and reinvest portfolios. You can read more about them here.

Each Cellar will accommodate a different strategy (tick ranges) and charge a specific fee. Any revenue generated from Cellar or Validator fees is funneled back into the Bridge, then distributed proportionately across all delegators to all of the different validators. So if you’re staking SOMM tokens, you will receive a chunk of the fees. If you’re interested in reading the technical details of Validator revenue generation you can read more here.

SOMM stakers will have direct control on the community fund and can take part in governance to vote on how the funds are allocated, Cellar mechanics and future developments.

You can read more about the Sommeliers reward mechanism here.

Have questions? Come talk to us in the Figment Staking Hub

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