April competition: stDIVI and stETH!

Kyle Turnbull

April 10, 2021 · 3 min read

Divi Project defi monthly competition

Announcing the stDIVI competition

First, an important note: We're super excited to enter DeFi and offer our community the chance to participate in new and lucrative ways to earn. With that being said, it is important to note that DeFi is complex. It will not be for everyone. Before we launch on mainnet it is very important to us that you have a chance to practice and learn how to acquire stDIVI and stETH. Also, this will help people understand liquidity in a testing environment. If this competition feels complicated that’s because DeFi is inherently complicated. This is your chance to come to grips with whether or not this is something for you.

A bit about the testnet

This testnet is a great way for our users to become familiar with the process of buying stDIVI, and interacting with liquidity pools, in a risk-free way. It’s important to remember that although the steps will be similar for the real process, addresses will be different.

Here’s how to enter

  1. Follow Divi and Stakehound on Twitter.
  2. Read the testnet guide and follow the steps through to get stDIVI.
  3. Read the testnet guide and follow the steps through to get stETH and provide liquidity in the stDIVI/stETH pool.
  4. Once you've completed the steps, take a screenshot of your stDIVI/stETH position from within the SushiSwap “Pool” option.
  5. Post the screenshot on Twitter and tag @DiviProject, @stakedTokens and use the hashtags #stDIVI and #LiquidStaking
  6. Add tweet URL, DIVI wallet address, and ERC-20 wallet address to the google form.
  7. The contest ends 30th April, 23:59 PST. Winners will be announced within two weeks after the contest ends.

Addresses cannot be changed after submission. Winners will have tokens delivered to the indicated wallet addresses.

How to get stDIVI

Here’s a quick recap of the testnet guide above. We suggest following the in-depth guide carefully, especially if you’re new to DeFi!

  1. Head to StakeHound.com and click on ‘Try stDIVI™ Today’.
  2. Switch your Metamask network from ‘Ethereum Mainnet’ to ‘Ropsten Test Network’ through the browser extension.
  3. Check your wallet in the Metamask extension. You should see the number of ETH now available in your wallet.
  4. Now, you can use the ETH you have received from the faucet to swap for stDIVI.
  5. Add stDIVI (testnet) tokens to your Metamask wallet. You may click on ‘Add stDIVI to Metamask’ or select ‘Add Token’ directly from the Metamask extension.
  6. You will now see that the Metamask wallet holds the number of stDIVI you have swapped for.

How to get stETH

In a similar fashion above, get stETH on the testnet. You may also refer to this guide.

  1. Download Metamask.
  2. Switch your Metamask network from ‘Ethereum Mainnet’ to ‘Ropsten Test Network’ through the browser extension.
  3. Check your wallet in the Metamask extension. You should see the number of ETH now available in your wallet.
  4. Now, you can use the ETH you have received from the faucet to swap for stETH.
  5. Add stETH (testnet) tokens to your Metamask wallet. You may click on ‘Add stDIVI to Metamask’ or select ‘Add Token’ directly from the Metamask extension.
  6. You will now see that the Metamask wallet holds the number of stETH you have swapped for.

How to provide liquidity to stDIVI-stETH pool

In a similar fashion above, get stETH on the testnet

  1. Determine the amount you would like to contribute to the pool
  2. Proceed to add liquidity

Prizes

10 winners will each receive stETH and DIVI in the amount of $600 each.

Helpful links

If you have any questions, please direct those to the StakeHound Discord.

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  • Competition

Kyle Turnbull

April 10, 2021 · 3 min read

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