Launch App

Sommelier Protocol Team Weekly Update #10

Welcome to the Protocol team update on the Sommelier Cellars release! This week we continue with the audit on Aave cellar smart contract and the team's delivery of Steward and Cellars release.

MILESTONES ACHIEVED IN PREPARATION FOR THE AAVE CELLAR RELEASE

In preparation for the Aave cellars release scheduled earlier for June 1st, the Sommelier team has achieved the following milestones:


Validators Upgraded and Running Steward
On Friday, 13th June 2022, validators successfully upgraded their network and running steward. The Sommelier Cork upgrade proposal was submitted on the 2022-05-11 16:34 UTC and passed after voting ended on 2022-05-13 16:34 UTC. Initially, the validators ran Gorc, a command line tool in the Gravity bridge. However, this upgrade will enable them to utilize Steward and the Cork feature.

The Cork module is responsible for facilitating consensus around Cellar-specific contract calls. Cork provides governance mechanisms for approving new Cellars for Sommelier management, and APIs for submitting both ad-hoc and scheduled contract calls to the Gravity module.

First, the system was brought to a halt and validators running sommelier-3 upgraded to the v2.0.1 of the Gravity bridge and v1.0.1 of Steward in what has been termed one of the fastest and smooth upgrades in the Cosmos ecosystem.

Steward instances are a public-internet-facing port at a domain added to our Steward Registry repository. This is not for users but is solely for Strategy Providers (initially, only Peggy JV) to connect to. The connection between the Strategy Provider and Steward will be authenticated and encrypted via TLS 1.3.

UI is Complete
The user interface for the Sommelier website is complete. This interface comprises a means for users to participate in Cellars stablecoin strategies. We are excited to show off the amazing UI design that Strangelove has created for Sommelier. It will be available for early viewing by validators.

Smart Contract for the Aave Cellar was Audited
The smart contract for the Aave stablecoin Cellar was audited in preparation for the launch initially scheduled for Jun 1, 2022. However, some bugs/vulnerabilities were found in the contract and fixes sent to our auditors.

Here in Sommelier, safety is our top priority. Therefore, we won’t be launching Cellars on June 1st as planned. We’re currently waiting for our auditors to review the changes we’ve made. A new launch date will be communicated to the public Once our fixes have been reviewed by our auditors. Next, we’ll submit a governance proposal to activate the Cellar after the auditors are done with auditing changes made to the Cellar smart contract.

To learn more about Sommelier, please visit https://sommelier.finance/
To participate in the community, please join the Telegram group https://t.me/getsomm.
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