Huobi-backed Divergence to Launch Public Sale on Miso
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Trading on DeFi comes with its bags of risks. A single action could be the difference between profits and liquidation. Divergence is a platform designed to provide DeFi traders alternative options.
It allows users to reduce their risk by gaining options exposures. Since its social media debut at the end of May, the Divergence community has grown massively. Divergence has also recently announced that it received funding from strategic investors like Huobi Ventures and AscendEx. This represents a solid vote of confidence in Divergence.
Scott Bryon, Head of Research at Ascendex noted that “AscendEX is extremely excited to support Divergence Protocol as they innovate across the composable options markets. It’s important for traders to maintain proper risk adjusted positions, and Divergence is helping DeFi market participants do this now more than ever.
With the Divergence IDO getting closer, we take an in-depth look at this DeFi project.
Built for DeFi Traders
Divergence ticks all the boxes of a truly decentralized finance platform. It is community-focused and built for anyone in the DeFi sector. Traders can protect or gain yield from their capital by leveling up with Divergence’s binary options. Getting into binary options can be limited-risk trades for both buyers and sellers. And yet they can offer lucrative, non-linear rewards for traders.
Divergence has released a live V1 testnet on the Ethereum Kovan testnet for anyone to test its features. Trading on the testnet is relatively simple and all that is required is to connect wallets like MetaMask to the Divergence test dApp.
Users can trade from any of the single strike and range strike options. Divergence tokenizes options positions as virtual tokens. Its Spear and Shield tokens are abstractions within smart contracts rather than ERC-20 tokens. As a result, users don't have to worry about incurring extra gas costs from transferring these tokens. In contrast, existing solutions typically require users to mint options as ERC-20 tokens, transfer these tokens to a DEX, and supply additional liquidity to make a market.
Traders can also effortlessly manage their options expiries by utilizing Divergence’s automated rollover feature. At settlement, if LPs do not claim liquidity, Divergence automatically rolls over their capital on similar terms. This allows LPs to save gas on managing options expiries and ensures continuity of markets.
Diver Token Launch
Divergence is powered by its native ERC-20 token DIVER. DIVER is a unique token designed to serve as the governance token for the Divergence ecosystem. DIVER token hodlers can vote on the future direction of the Divergence trading platform. This includes community proposals, protocol parameters, reward programs, and more.
The token is expected to be launched on September 20, 2021 via a public sale on SushiSwap’s MISO launchpad. Divergence has already revealed that the IDO will be in the form of a Dutch auction and is expected to run for 24 hours.
Participants will be able to buy DIVER tokens and become early holders of the coin. Once the IDO is completed, DIVER tokens will be available for trading on SushiSwap with more listings expected in the future.
Divergence roadmap also has a lot of activities in store in Q4 2021, including its highly anticipated mainnet launch. Divergence already has a fully functioning testnet with an intuitive user interface. Its mainnet is expected to have a faster-loading interface and add-on functionalities. With the launch, traders will have access to decentralized options markets for a larger number of assets. They are able to create new options markets with DeFi-native coins. Much is to be expected of this new DeFi derivatives marketplace.
📢Telegram Announcement: https://t.me/divergenceannouncement