SOMM circulation

In order to implement the will of the community to as defined SIP-001 and SIP-002, 14.6 million SOMM will be moved into a staging multisig. These values are derived from the computations provided by VolumeFi here: https://github.com/VolumeFi/somm_airdrop. This multisig will have two responsibilities. First, it will send 3.4 million somm to itself on osmosis for distribution to the addresses defined in the snapshot. Second, it will send 11.2 milion SOMM over the Somm gravity bridge to an merklemined distribution contract. Failure to execute these functions correctly will be considered a protocol failures and be resolved by a hardfork.

This proposal is for a grant of 1M (one million) SOMM tokens to seed Seven Seas as a strategy provider. The funding will support the development and maintenance of at least 8 new Cellars (approved by Governance) over 12 months. Please see the full proposal for more details: https://ipfs.io/ipfs/QmdFgqrVpaHjxPMgtu11SNWDHrNFhFj1XHCvr1CN8guNZd For context and discussion surrounding the proposal, please see the corresponding section (titled `Community Spend Proposal 1: Cellar Development`) in the forum post: https://community.sommelier.finance/t/sips-011-012-seven-seas-upcoming-community-spend-proposals/952

This proposal is for a grant of 1M (one million) SOMM tokens to incentivize Seven Seas to develop tooling and infrastructure to support ease of Cellar development and onboarding of new Sommelier Protocol Strategy Providers for one year. Deliverables include: - Onboarding initial strategy providers voted in by Governance - Generic, open source smart-contract development for Cellars - Cellar monitoring tools for performance indicators and analytics - Launch 3+ multi-EVM strategies to establish Sommelier on other chains Please see the full proposal for more details: https://ipfs.io/ipfs/QmYWxvmVk41rSydUVEoe7MtCbWaQpW4bG9y11DJYDXgxf8 For context and discussion surrounding the proposal, please see the corresponding section (titled `Community Spend Proposal 2: Ecosystem Cultivation`) in the forum post: https://community.sommelier.finance/t/sips-011-012-seven-seas-upcoming-community-spend-proposals/952

Grant of one million SOMM to seed Cleargate Research as a strategy development partner with the goal of creating a diverse set of Cellars on the Sommelier protocol. This grant will support 12 months of Cellar development and maintenance. Full proposal: https://ipfs.io/ipfs/QmZLnr6kutdUXn1nhCs2jRaHZU3auePcZYYByn5hTVQj5u

Grant of 100,000 SOMM to facilitate a trading competition on Injective Protocol exchanges. For more details, see the corresponding forum post: https://community.sommelier.finance/t/sips-023-upcoming-trading-contest-rewards-proposal/1035

This proposal is intended to authorize the use of 125,000 SOMM from the community pool to create and fund SOMM external incentives for the OSMO/SOMM pool (627) on the Osmosis Blockchain. See the corresponding forum post for more details: https://community.sommelier.finance/t/proposal-for-community-pool-funding-of-somm-external-incentives-on-osmosis/1069

This proposal is intended to authorize a one-time transfer of 100,000 SOMM from the community pool to Nitron's RealYieldUSD receipt token lending market. These funds will be used to incentivize participation in the Real YieldUSD Cellar and further increase its utility. See the corresponding forum post for more details: https://community.sommelier.finance/t/proposal-for-community-pool-funding-of-somm-external-incentives-on-nitron/1080

This proposal is intended to authorize a one-time transfer of 40,000 SOMM from the community pool to a multisig that will forward the funds to Camelot DEX to incentivize LPs. See the corresponding forum post for more details: https://community.sommelier.finance/t/sips-042-upcoming-camelot-dex-incentives-proposal/1117/1

This proposal is for a grant of 1M (one million) SOMM tokens to seed DeFine Logic Labs as a strategy provider. The funding will support the development and maintenance of at least 8 new Cellars (approved by Governance) over 12 months. Please see the the corresponding forum post for more details: https://community.sommelier.finance/t/proposal-for-community-pool-funding-of-somm-to-define-logic-labs/1111

This proposal is intended to authorize a one-time transfer of 100,000 SOMM from the community pool to a multi-sig address, which will be used to incentivize liquidity in the RYETH and RYBTC pools on SummerFi/Ajna. See the corresponding forum post for more details: https://community.sommelier.finance/t/sips-069-upcoming-liquidity-mining-incentives-proposal-on-summer-fi-ajna/1167

MantaDAO is proposing a $50k SOMM<>MNTA token swap with the Sommelier Community. Each party will match the received token with another $50k of their own token in a BOW LP (the AMM built on top of FIN, Kujira’s orderbook DEX). This will result in $200k of SOMM/MNTA liquidity that will make SOMM tradable with limited price impact against a wide variety of assets (axlUSDC,USK, wETH, wBTC, ATOM, KUJI, etc.) thanks to MantaSwap’s multihop router. Half of the LP ($100k) will be owned by Sommelier Community Pool; the other half ($100k) will be owned by MantaDAO. This will sustainably deepen liquidity for SOMM in the form of Protocol-Owned Liquidity, at zero cost for Sommelier, and without the need for any incentives. This will also enable the Sommelier Community to diversify its treasury and generate a source of income in the form of trading profits from market-making activities. As part of the deal, MantaDAO also commits to acquire $50k worth of yieldETH that will be matched with $50k worth of MNTA and deposited in a BOW LP, creating the first market for yieldETH in the Cosmos with $100k liquidity. After the deal, ManatDAO will continue to look at building-up liquidity for Sommelier’s yield generating strategies on Kujira. The recipient address is the Sommelier team's ops multisig. The amounts of MNTA and SOMM for the token swap deal are calculated on 20d TWAP basis: https://docs.google.com/spreadsheets/d/181DKyByXR25LQQ2cUYkr4aB4Hwfyz9KrvsVpMGU_p00/edit#gid=0 The full text of the proposal: https://community.sommelier.finance/t/mutual-token-swap-between-sommelier-and-mantadao-in-order-to-build-liquidity-on-kujiras-fin-dex/1177

This proposal is intended to authorize a one-time transfer of 75,000 SOMM from the community pool to a multisig that will forward the funds to Osmosis to incentivize LP's. See the corresponding forum post for more details: https://community.sommelier.finance/t/sips-088-upcoming-osmosis-incentives-proposal-for-yieldeth/1204