Sommelier Closes $23 Million in Financing Led by Polychain Capital

TokenInsight reports that Sommelier, the Uniswap V3 liquidity management protocol, has announced a $23 million funding round led by Polychain Capital with participation from Byzantine Ventures, Alameda Research, and others, according to Coindesk. Sommelier co-founder Zaki Manian said the funding round will be used to continue the development of the product Cellars, which uses a Cosmos-based network of validators to manage positions. In addition, Zaki Manian said that Sommelier is currently discussing a token offering internally and may launch liquidity mining soon.