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Diva Staking, an Ethereum Liquid Staking Protocol powered by Distributed Validator Technology (DVT), is thrilled to announce a new partnership with Octant, uniting our efforts to decentralize Ethereum’s staking landscape.
Octant enhances Ethereum public goods funding and brings added value to GLM and the Golem ecosystem. The Golem Foundation is planning a phased transition of its validators to Diva’s DVT, contingent on the maturity and extensive testing of their technology. This includes allocating up to 100,000 ETH to Diva Staking, worth approximately $220M at the time of writing.
By leveraging Diva’s DVT technology, Octant can now offer Liquid Staking and innovative methods to enhance user rewards and public goods funding impact. This change is a pivotal move towards a more decentralized and balanced web3 future.
Addressing Staking Ecosystem Challenges
The current Ethereum staking ecosystem has revealed a worrying trend: the top three pools control over 50% of the staking power. Worse still, 91% of this is either permissioned or centralized, leaving a meager 9% for decentralized options. As for on-chain LST (Liquid Staking Tokens) dynamics, Lido dominates with 85%.
The picture is clear: there’s an urgent need for new on-chain alternatives.
The Diva Staking-Octant Synergy
Octant’s commitment to Ethereum’s positive growth perfectly aligns with Diva Staking’s ambition to build the first unstoppable, permissionless LST, a ‘layer 2 for staking.’ Diva Staking’s vision of a 33/33/33% ecosystem balance mirrors Octant’s values.
Diva Staking is pioneering DVT-powered Liquid Staking with several key innovations:
- Allowing Liquid Staking with divETH
- Empowering anyone to run a node from only 1 ETH
- Removing single points of failure with Distributed Validation
- Using non-upgradable smart contracts that provide long-term guarantees
We’re thrilled that Octant will be utilizing Diva Staking’s DVT solution, amplifying the voices of those advocating for greater decentralization.
Diva Staking’s ‘Early Stakers Initiative’ powered by Enzyme
This news follows Diva Staking’s ‘Early Stakers Initiative’, powered by the industry’s leading on-chain asset management protocol Enzyme. This initiative enables Diva Early Stakers to earn DIVA tokens by depositing stETH into an Enzyme vault. The stETH in the vault will eventually be converted into Diva Staking’s native divETH token. As of 5th December, Diva’s vault has secured more than 18,000 stETH worth approximately $40M.
Collectively, this partnership with Octant and Enzyme now puts Diva Staking on par with Rocketpool in terms of market acquisition.
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