Launch App

Introducing Ukpai Ugochi - Working on The Sommelier Cellars Rebalancer

Meet Ukpai Ugochi, Sommelier Rust developer who also contributes to the Sommelier Protocol Gravity bridge. Ugochi has always been fascinated with Rust and its memory safety as well as the idea of working in the blockchain space.

“I am a self-taught developer from a marine engineering background who has benefited immensely from community development. I started learning how to code during an industrial training organized by my school since I was on board with a computer and active internet access.”

Ugochi started writing technical articles on JavaScript to share knowledge about her transition from marine engineering to software development. While writing technical articles, she offered to write an article about Rust. This is how she started learning about Rust until banks and other financial institutions were prohibited from dealing in cryptocurrencies in Nigeria. This sparked a curiosity in her.

Hello Blockchain

Ugochi joined the Nigerian blockchain community where she got a deeper understanding of how the EVM works (Ethereum Virtual Machine). In a bid to apply her Rust knowledge while learning, she came across the ethers-rs crate, a complete Ethereum library, and wallet implementation in Rust.

“Seeing that there’s space for a Rust developer excited me even more and I kept learning, improving myself, and also contributing to Rust crates”.

She kept writing technical articles on how to use the ethers-rs crate then she met Zaki Manian who introduced her to the possibilities in the Cosmos network.

Ethereum to Cosmos, working with the Sommelier Chain

An introduction to the Cosmos network showed her the possibility of blockchain interaction using the IBC protocol while still retaining sovereignty. There’s also the ability to scale to millions of users through horizontal and vertical scalability solutions in Cosmos.

At this time, the Sommelier team was building a unique product with Cosmos and the Gravity bridge. She joined the Sommelier team because of the innovation Sommelier’s product was bringing to the table. For instance, she realized that incorporating the Gravity bridge into the Sommelier chain allows batched transactions allowing for costs to be heavily amortized on high volume bridges.

“I thought to myself, this is just one of the Sommelier chain’s features and it is very mind-blowing. This means that the other features that the Sommelier chain will offer would equally be innovative”.

The Cellars Rebalancer

Ugochi first started to work on the Gravity bridge when she joined the Sommelier team. Then, she got introduced to the Cellars rebalancer. The Cellars rebalancer is one of the features Sommelier provides.

She immediately started working on the Cellars rebalancer since it is built with Rust and integrates the full functionality of Gorc for operating as an orchestrator and relayer of gravity bridge messages between Ethereum and Cosmos chains.

“I realized that though liquidity pools tend to solve the incurring cost for market makers since market makers don't have to incur costs for putting liquidity into the market. However, market makers incur a type of impermanent loss by putting their assets in liquidity pools. With the Cellars rebalancer, market makers can automatically rebalance their portfolio whenever there's a change in the market instead of relying on arbitrage traders”

“The Cellars rebalancer wraps assets in the liquidity pool and can automatically rebalance portfolio with the cellar tick info using information from a Poller. With the rebalancer, users can also reinvest.”

To learn more about Sommelier, please visit https://sommelier.finance/

To use Sommelier, try the Pairings App at https://app.sommelier.finance/

To participate in the community, please join the Telegram group https://t.me/getsomm or our Discord https://discord.gg/gZzaPmDzUq

To participate in the community, please join the Telegram group

To follow the project on Github, please Star the project https://github.com/PeggyJV/sommelier.

More articles


This website does not constitute an offer to sell or a solicitation of interest to purchase any securities in any country or jurisdiction in which such offer or solicitation is not permitted by law. Nothing on this website is meant to be construed as investment advice and we do not provide investment advisory services, nor are we regulated or permitted to do so. This website is provided for convenience only. Sommelier does not manage any portfolios. You must make an independent judgment as to whether to add liquidity to portfolios.

Users of the Sommelier website should familiarize themselves with smart contracts to further consider the risks associated with smart contracts before adding liquidity to any portfolios.

Note that the website may change, and we are under no obligation to update or advise as to these changes. There is no guarantee that the Sommelier Mainnet, including any software, products or token use cases mentioned on the website, will be built, or offered by Sommelier. In particular, actual results and developments may be materially different from any forecast, opinion or expectation expressed in this website, or documents contained in it, and the past performance of any portfolio must not be relied on as a guide to its future performance.

To the extent permitted by law, the company and its directors, officers, employees, agents exclude all liability for any loss or damage arising from the use of, or reliance on, the material contained on this website whether or not caused by a negligent act or omission. The release, publication or distribution of this website and any materials herein may be restricted in some jurisdiction and therefore you must inform yourself of and observe any such restrictions.

© 2022 Sommelier by Bajanss OÜ –Maakri 36-50, Tallinn, Estonia 10145

Telegram
Discord
Twitter