Dear Bankless Nation,

There have been a lot of conversations popping off on crypto Twitter this week surrounding Lido and LST dominance.

One of the competing liquid staking protocols that is seeing some chatter amid this is Diva, which is looking to incentivize Lido customers to make the switch. Today, we take a look at Diva and showcase how you can get involved early.

- Bankless team

How to Use Diva Early Staking Vaults

Bankless Writer: William Peaster | disclosures

Diva is an upstart Ethereum liquid staking protocol that has been seeing some chatter in recent weeks.

At its core, the project aims to improve the staking landscape by employing Distributed Validator Tech (DVT), which enhances Ethereum staking by allowing small groups to collaboratively stake, a.k.a. squad staking

Diva plans to use this tech to help many more stakers join in on the validation process, bringing better decentralization and security in kind.

Sound interesting? Well, take note, then, because the project has an early-bird opportunity right now, its Early Staking Vaults

These Early Staking Vaults are a strategic initiative designed to gather total value locked (TVL) before Diva Staking’s mainnet launch (Q4 2023/Q1 2024) when the project’s divETH liquid staking token (LST) will go live. 

To incentivize deposits of ETH or Lido’s stETH token into these vaults, participants will earn rewards as denominated in Diva’s native DIVA token. You can gauge your earnings with the Rewards Calculator here

The big idea? Accelerate the adoption of Diva Staking while fostering a balanced and decentralized community in the process. If this opp seems up your alley, jumping in is straightforward:

  • 📱 Visit the app — Navigate to diva.enzyme.finance/#vaults.
  • 🪙 Choose your vault — Decide between depositing ETH or stETH based on your preference. Remember, stETH deposits offer both staking rewards and DIVA tokens.
  • 📥 Make a deposit — Once you’ve picked your vault of choice, use the interface’s “Deposit” button to input your desired deposit amount. Note: you will need to sign a transaction to accept Diva’s terms and conditions before depositing.
  • 🔍 Monitor your investment — Use the provided Enzyme dashboard to track your deposits in the ETH vault or stETH vault. Keep in mind you will need to keep your deposit in until the Diva mainnet launches to receive your DIVA rewards allocation at that time. 
  • 📣 Stay updated: Keep an eye on Diva’s comms for any updates, especially as the mainnet launch approaches.
THANKS TO METAMASK PORTFOLIO

MetaMask Portfolio houses our flagship swapping mechanism. The Swap feature allows you to swap tokens directly by aggregating data from various decentralized exchanges (DEXs) and market makers to ensure you get competitive prices and low network fees.

Can Diva's unique approach to staking make a crack in Lido’s reigning LST dominance? Will Distributed Validator Technology become the new standard for decentralized staking? 

We'll have to wait and see once the Diva mainnet arrives. In the meantime, be sure to review the project’s docs and explore the protocol’s Early Staking Vaults if you’re keen to put some tokens into action. 

Just remember, never deposit more than you can afford to lose where new projects are concerned! 

The vaults here are facilitated on Enzyme, which has been audited and battle-tested for some time, yet since Diva is new, there’s execution risk and beyond going forward. Play smart if you do play!

Ryan and David are angel investors in Diva. They were not involved in the pitching, editing or publishing of this story. View our Disclosures.

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