Progress

DIVA Testnet - Mission one completed

By Walodja1987 at

On 30th September, the first phase of DIVA's incentivized testnet has ended. The goal of the testnet was to invite users to explore the functionality of the DIVA App, collect valueable feedback to further improve the app ahead of the mainnet launch beginning of next year and reward participants with a claim on the future DIVA token.

The participation was overwhelming and has exceeded all our expectations. We want to say a big THANK YOU to everyone who participated in our testnet. The huge participation was a real stress test for our app and helped us to iron out some bugs that we wouldn't have spotted otherwise.

Here some key testnet statistics to highlight:

  • Total contingent pools created: 170'000
  • Unique addresses participated: 26'100
  • Number accounts that completed all tasks: 13'800
  • Total points collected: 79.5m
  • Discord users: 33'000 (vs. 800 before the testnet)

DIVA token reward

The most important metric that testnet participants are eagerly waiting for is the DIVA token reward that they receive for their participation. It took us a bit of time to finalize the numbers as the community requested an additional verification step to filter out multi-accounts. Roughly 1'000 alt accounts and their corresponding main accounts (3.7m or 4.7% of total points) have been filtered out during that process.

The DIVA token rewards for registered users that passed the verification, hold an 888Whales NFT or are among the quiz winners are as follows:

  • 4.4 DIVA tokens per completed task (200 points)
  • 100 DIVA tokens for full completion (4500 points)
  • 200 DIVA tokens for full completion and ownership of an 888Whale NFT (9000 points)

Despite sufficient heads-up and a three day verification window, more than 11k registered users (c. 25m or 31.4% of total points) missed the verification process. As users have spent a significant amount of time to complete the testnet tasks (90% of users spent more than 30 minutes), we decided to also reward non-verified users with a reduced reward:

  • 1.8 DIVA tokens per completed task (200 points)
  • 40 DIVA tokens for full completion (4500 points)

It's important to highlight that those rewards come on top of the initially planned reward pool size of 1m DIVA tokens and do not dilute verified users. Overall, a total of 1.37m DIVA tokens have been allocated to more than 25'100 users. That is 37% more than originally planned.

You can check your reward on our new website 👀.

If you are not eligible, don't be disappointed as we will give you additional opportunities to get your hands on the DIVA token.

Note: Until token launch, we reserve the right to blacklist verified multi-accounts if we are presented credible evidence.

Wen token?

The DIVA token reward can be claimed at the token generation event which is planned to coincide with the mainnet launch of the DIVA Protocol in Q1 2023. As a DIVA token holder you will have a say in the future direction of the protocol. In particular, you will be able to vote on protocol parameters such as fees as well as how to spend the DIVA treasury funds. There will be a maximum of 100m tokens with the majority being distributed over time (post mainnet) to those that help grow the ecosystem around DIVA Protocol. Read more about the DIVA tokenomics here.

What's next

Our main focus right now is getting the smart contracts ready for the second and final audit in January with Sherlock and prepare everything for the second testnet round. The goal of the second testnet round is to test additional features and integrations that we have been developing over the last couple of months, in particular, the Create Offer flow as well as the Tellor oracle protocol integration. We will announce more details as soon as things are ready.

After a short break, we will also restart the quiz sessions to give community members an additional opportunity to earn DIVA tokens. Remember that answering a quiz question correctly will earn you 100 DIVA tokens, same as completing all testnet tasks. However, you need to be fast and the completion of all testnet tasks is a requirement to be eligible for the reward. Some of the upcoming questions will help you prepare for the second testnet round. Playing around with the Create Offer flow in the DIVA App may give you an edge ;-)

Further, note that the testnet tasks will remain available in the DIVA App as eligibility for future reward rounds (incl. quiz and second testnet round) will require full completion of all testnet tasks. As we have migrated the app to the latest version of the DIVA Protocol smart contracts, you may not see your completion status. Rest assured that your progress is saved on our side and we will display it in the app as soon as possible.

Bootstrapping the DIVA ecosystem

Our goal is to establish DIVA Protocol as the engine that powers a wide range of derivative applications including prediction/betting markets, insurance platforms, structured products as well as event-driven conditional donations. DIVA App was just the beginning. To bootstrap the ecosystem, we have started to design and implement new applications on top of DIVA Protocol to give web2 developers inspiration and ideas what is possible. Stay tuned for more updates on that front.

Join us

DIVA Protocol enables the peer-to-peer creation of derivative products and with that unlock use cases that haven't been possible before. If you are interested in what we are building, join us on Discord and Twitter and check out the following links:

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