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[PRESS RELEASE – Please Read Disclaimer]
Divergence, a decentralized protocol for options and volatility derivatives, is announcing the upcoming public sale of its native token, DIVER.
The DIVER token is the governance token of the Divergence protocol. DIVER holders can propose and vote on governance proposals. Importantly, DIVER will be a productive asset that gains value from the growth of Divergence protocol. Various types of token rewards will be periodically shared amongst DIVER stakers. Upcoming liquidity provider programs and community programs will reward DIVER tokens to contributors.
The DIVER token sale details are as follows:
When: Monday, 20 September 2021 at 09:00 AM EST / 01:00 PM UTC
Duration: 24 hours
Supply: 20M DIVER (2% of total supply)
Bid Currency: USDC
Auction Model: Dutch Auction
Starting Bid: $0.1/DIVER ($2M raise)
Minimum Bid: $0.05/DIVER ($1M raise)
Max, Initial Market Cap: $7.75M ($0.10 x 77.5M DIVER)
Min. Initial Market Cap: $3.87M ($0.05 x 77.5M DIVER)
Link: Token sale
The Dutch Auction ends after receiving bids for all 20 million DIVER tokens. At the end, all bidders will receive the same token price as the sale price of the 20 million tokens sold.
After the public sale, DIVER tokens will be available for trading on SushiSwap. The majority of the sale proceeds and a proportional supply of DIVER tokens will be routed to a SushiSwap liquidity pool. This pool is expected to become the DIVER token liquidity venue for the long term.
The remainder of the sale proceeds will be reserved for liquidity events in the near future. The Divergence team looks forward to upcoming token listings on major exchange venues, which will make DIVER tokens accessible to a larger market.
Following the launch of its public beta, the Divergence team has been optimizing its app, while its smart contracts are being audited. Once fully audited, the team will open source the code and commence bug bounty programs. This will prepare Divergence for its V1 mainnet launch on Ethereum in Q4.
Divergence is a decentralized platform for volatility hedging and trading with a focus on blockchain native asset prices, value of LP tokens, interest rates, DeFi farming and staking rewards.