DIVA App Launch

DIVA App Launch

By Walodja1987 at

We are thrilled to announce the launch of the DIVA App (app.diva.finance), a one-stop solution for creating, trading and settling bespoke derivative contracts in a peer-to-peer manner. The DIVA App is powered by three protocols - DIVA Protocol, 0x Protocol, and Tellor Protocol - offering users a seamless and fully trustless experience for managing the entire lifecycle of derivative contracts.

In this blog post, we are going to give you a high-level overview of the DIVA App’s functionality.

🔗 Chains

The DIVA App is currently available on Polygon, and Mumbai for testing. On Mumbai, users have the freedom to create and test any market using any oracle of their choice. On Polygon, the available underlyings are currently limited to BTC/USD, ETH/USD and TRB/USD, with the Tellor adapter as the only oracle to ensure a smooth initial user experience.

The team plans to extend the range of underlyings based on community feedback over time. Users that wish to create custom markets on Polygon should reach out in our Discord.

🎯 Market Creation

The derivative contract creation is powered by DIVA Protocol, offering unparalleled customization options. That is, users have the freedom to select virtually any metric as the underlying and can choose from a diverse range of payoff profiles including different slopes, barriers, and ranges.

DIVA Protocol offers two types for market creation:

  • Pre-funded (“CREATE POOL”): By fully funding the derivative contract, the creator receives both position tokens, rendering them fully hedged. This option is useful for market makers seeking to provide liquidity on both sides of the derivative market.
  • Priced offer (“CREATE OFFER”): In this option, the creator specifies the contribution from each party to the derivative contract and commits to the offer terms by signing it with their private key, which is an off-chain process. The derivative contract is created on-chain only if a counterparty is found, thereby optimizing gas efficiency for users. This functionality particularly caters to use cases centered around bets and predictions.

🔮 Oracles

The Tellor adapter (0x7950DB13cc37774614B0AA406e42a4C4f0BF26a6) was released as the first oracle integration for DIVA Protocol and is made available for users in the DIVA App for secure and decentralized outcome reporting. Learn more about the DIVA Protocol integration with Tellor Protocol in this Twitter thread.

As the DIVA ecosystem continues to grow, additional oracle integrations will be developed, offering users a wider selection of reliable data sources.

📸 Visualizing derivative contract offers

After creating offers through the "CREATE OFFER" option in the DIVA App, users can use the DIVA ViZ app to generate eye-catching visualizations of their derivative contract offers, and share them on Twitter, accompanied by the offer link.

Here's an example visualization:

📈 Trading

The DIVA App is using 0x Protocol, a decentralized limit order protocol, to facilitate the exchange of the derivative assets. Leveraging an off-chain matching mechanism and an on-chain settlement process, users can create limit orders without incurring any gas fees (note that approving token transfers may involve a one-time gas cost, though).

One of the key advantages of using 0x Protocol for trading is that users retain full custody of their assets, unlike centralized solutions.

💸 Settlement

Once the outcome of a market has been reported by the Tellor oracle, DIVA Protocol determines the payouts for participants and users can conveniently claim their payouts directly through the DIVA App.

⚓ Who can use the DIVA App?

The DIVA App is open-source, inviting developers to contribute to the existing repository or draw inspiration for building similar applications on top of the DIVA Protocol.

Existing crypto platforms can use the DIVA App to expand their services by offering bespoke OTC derivative solutions to their clients.

If you're interested in contributing to the DIVA App, we encourage you to reach out in our Discord and get involved in our development community.

🛣️ What’s next?

In the upcoming weeks, we have exciting plans to launch diverse derivative markets, engaging our community and gaining valuable insights and experiences.

Additionally, we will be releasing comprehensive video tutorials, providing in-depth guidance on every aspect of the DIVA App, to ensure users have the resources they need for a seamless experience.

If you encounter any challenges while exploring the app, don't hesitate to reach out to us on Discord for assistance.

🌔 Conclusion

The mainnet launch of DIVA Protocol unlocked new opportunities in the world of decentralized finance. The DIVA App provides a user-friendly interface to harness the endless possibilities that DIVA Protocol offers.

📃 Disclaimer

Participation in derivative contracts involves inherent risks, including the potential loss of invested capital. It is crucial to carefully review and comprehend the terms, conditions, and associated risks of any derivative contract before engaging in trading activities. Please only invest funds that you are prepared to lose.

Further, please note that derivatives trading may be subject to legal restrictions and regulations in certain jurisdictions. It is your responsibility to ensure compliance with applicable laws and regulations before interacting with the DIVA App.

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