DeFi

Diva Successfully Raised $3.5 Million For Building Liquid Staking Powered By Distributed Validators

Key Points:

With aspirations to develop a cooperative decentralizing staking pool, Diva just closed a $3.5 million seed round sponsored by A&T Capital.
The protocol is designed to provide benefits to both inactive investors and full-time node operators, with awards being socialized over the network to produce consistent and predictable reward rates.
In contrast to the centralized delegated pools of today, Diva’s DVT incorporates a number of advances to provide truly decentralized staking.

A community-driven Liquid Staking system called Diva has finished raising seed capital and will shortly go live on the Ethereum mainnet.

The first product offering a Liquid Staking Derivative (divETH) driven entirely by Distributed Validation Technology is Diva (DVT).

Participants earn a 1:1 ratio of divETH, a freely transferable liquid asset, in exchange for staking ETH on Diva. Staker wallets tally up any divETH rewards on a daily basis. After the March 2023 Capella update, DivETH can be unstaked and exchanged for ETH at any time, once more at a 1:1 ratio.

On Diva, nodes form groups by posting bonds totaling 1 ETH and working together. A full validation node is formed when each group of 16 nodes is matched against 16 ETH from diverse network stakers.

When ETH is put into Diva, it is added to additional deposits to meet the 32 ETH threshold for Ethereum Validators. Using its P2P consensus layer, the Node Operators are responsible for managing these validators.

Thanks to its built-in economic incentives and the cryptographic nature of the MPC DKG threshold signatures, the platform is tolerant of censorship, outages, and malicious assaults.

In contrast to the centralized delegated pools of today, its DVT incorporates a number of advances to provide true decentralized staking.

Staked.vc, Gnosis, Bankless, OKX Ventures, Metaweb, DCV Capital, Alphemy Capital, Very Early Ventures, and angel investors from projects like Metacartel, Aave, Staking Rewards, zkEVM, ZKValidator, EthGlobal, EigenLayer, Aragon, and Stakely contributed to the $3.5 million seed round, which was led by A&T Capital.

On January 23, the project will make its private testnet available to the public. A preliminary version of Diva is now being audited by its development team, and its mainnet release is anticipated in the coming months.

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Harold

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.