UPDATE: The Diva DAO Initial Distribution ended on Aug 15th 2023, and there is no longer a way to claim initial DIVA tokens.
TLDR: The Diva DAO was formed with an Initial Distribution to ~15,000 unique Ethereum stakers & ecosystem participants.
DAO participants are entrusted to make on-chain decisions regarding the Diva protocol launch.
The motivation for Diva
🚨 Many sources are sounding centralization alarms, as the few largest staking entities control >50% of the Ethereum network.
Design goals for Diva
Diva benefits Ethereum Stakers, and the entire ecosystem by enhancing efficiency and trust in performing staking and validating tasks.
This led to a radical shift in design focus:
- 🌳 The protocol is built as a public good that doesn’t extract any protocol fees.
- 🪨 Diva aims to be as immutable as possible, so that it can become a reliable staking primitive that others can build upon.
- It is conceived as a pure extension of Ethereum, with its software engraved into the protocol itself, and protected from the influence of speculators or potential attackers.
This is a completely different approach from the ones of centralized and for-profit entities, designed to prioritize resilience and decentralization.
The Diva DAO
In order to curate the Diva protocol, the Diva DAO has been established to empower the community in shaping the operational framework of Diva.
The design for Diva is still in progress, and the DAO is there to help shape it, ensuring that decisions are considered by a diverse and representative group of Ethereum users.
Through this process, decision making is decentralized from the beginning!
⚙️ How it works
The Diva DAO represents its users via the Delegated DIVA token holders, who can exercise voting power.
Each Delegated DIVA token is worth 1 vote on decisions such as:
- Deploying the Diva Smart Contracts.
- Curating the Diva Protocol by adjusting network parameters (if any).
- Evangelizing for the Diva Protocol.
There is a fixed total supply of 1,000,000,000 DIVA tokens. The ultimate goal is to distribute the entirety of the supply to community members, with a suggested target of delivering:
- 10% Initial Distribution as detailed above.
- 10% Staking Foundation for research, development and promotion.
- 40% DAO reserves.
- 40% for Early Supporters of the project.
The goal is to maximize decentralization, assigning governance power to active network participants.
A selection of community members are also being given the opportunity to become early DIVA holders, including ~15,000 unique addresses from:
- Diva OG contributors, including early supporters, researchers, developers, advisors, and community members.
- Ethereum Stakers from EthStaker, Rocketpool, SSV, Lido, Dappnode, etc.
- Community members from Gnosis, Uniswap, ENS, AAVE, Maker, Aragon and other DAOs.
- Ethereum staking dev and ecosystem contributors.
The purpose of this initial distribution is to involve potential Diva users in the design of the protocol as early as possible, building a system that has decentralization at its core.
Delegated token holders are tasked with the goal of shaping the protocol and increasing its utility, resiliency, and decentralization.
The DIVA tokens, at the time of launch, are characterized as non-transferable and valueless.
Many token launches experience issues of information asymmetry, which can lead to unfair conditions for potential participants.
To counteract this, DIVA tokens are introduced as non-transferable, eliminating any speculative interest that might negatively impact decentralization and distribution fairness.
The decision regarding future transferability of the token will rest with DIVA’s Delegated token holders, ensuring decisions are made in the best interest of the community.
Ideally, the token will maintain its non-transferable status unless its transferability becomes necessary for operational functionality and the advancement of decentralization.
Due to legal uncertainities surrounding staking operations in the US and Canada, US and Canadian nationals are excluded from the Early Distribution.
Several other sanctioned countries have been excluded as well.