Divi Live at Five: February Recap

Kyle Turnbull

March 02, 2021 · 7 min read

Divi Project Staking Masternodes and Wallet Update

Divi Live at Five

Welcome to the Divi Live at Five monthly recap!

Today we’re focusing on ‘Divi Everywhere,’ one of the central pillars of our project!

Through this, we’re creating an accessible ecosystem of finance.

Divi by the Numbers

👉 Masternode all-time high: 1,635.

👉 Wallet sign-ups: 17,880.

👉 Beta testers: 200 testers and climbing!

If you’re in a rush, here’s a quick recap of the live stream!

Live at Five quick recap:

  • The crypto market: There was plenty of high-profile attention this month, with Bitcoin reaching new all-time highs! Awareness is great for cryptocurrency in general as the entire market benefits from Bitcoin’s exposure!
  • Mobile wallet testing: Nick Saponaro was ecstatic with how testing is progressing. With over 200 testers, we’re making phenomenal progress. If anyone wants to become a tester, reach out on Telegram!
  • Third-party auditing: The final stage of wallet development is near. We’re getting our quality assurance (QA) and security testing in order. QA is one of the last things to happen before release! We will be using MindfulQA for quality assurance and we will release the security auditor’s name when confirmed!
  • BitMax staking: We’re expanding our relationship with BitMax. Users will now be able to stake Divi right on the exchange. On-exchange staking offers our community more options and helps those who currently don’t have access to wallet staking.
  • StakeHound partnership: Divi is partnering with the DeFi platform StakeHound! With this partnership, Divi holders can participate in DeFi, lending pools, and arbitrage with their Divi! We’re expecting this to bring great value to the project with increased scarcity and exposure.
  • Monthly AMA: Check out some of the questions the community had answered at the end of this write-up!

We've created a condensed recap of the live stream below, so you don't miss a thing 👇

If you want the full recap, read on.

The crypto market

Bitcoin touched 56,000USD but had experienced a minor correction at the time of writing. Consolidation is healthy after a few weeks of incredible movement. We can see just how much the market is changing. We’re seeing the shift from crypto investors and enthusiasts to mainstream investors.

There is an interesting takeaway from Elon Musk investing 1.5 billion into Bitcoin, that many people are not talking about. It represents a preservation move. It’s a recognition that the USD is in bad shape, and institutional money is finding new ways to protect the company’s assets. Publicly traded companies have to jump through hoops to invest the funds Elon Musk has. It requires stakeholder sign-off and legal permission, amongst other things. His decision to do so is an unprecedented step in the right direction for mainstream crypto adoption. It speaks volumes about where cryptocurrency is headed, and everyone should be incredibly excited about that!

Mobile Wallet Testing

Nick was a little excited with this one. He and the team are ecstatic with the progress and success of testing thus far. We have over 200 testers using it. If you want to test the app, please just reach out in telegram! We’re letting as many people in as we can!

Initiating third party auditing

Quality assurance paperwork was signed this week. We will never release a product that has not been forensically audited by a third-party. MindfulQA will be conducting the quality assurance.

We are currently negotiating with a security auditing company that will be conducting a complete white box audit. Not only will they test our application, but they will also dig into the code and audit the structure of our product.

We’re excited for this to start!

We will be publishing the results of these audits for the community to see!

Fun fact: quality assurance and security testing are the final steps we take before pushing an application live to our community. Take from that what you will 😏😏

Divi Project staking on exchange

The Divi Project announces BitMax on-exchange staking!

BitMax Staking!

Our relationship is expanding. We’re committed to providing our users with the opportunity to use their assets wherever they want. BitMax staking will allow our community to stake without needing to keep their computer running and connected to the internet. We will be conducting AMAs with Geoff and Nick, which will provide great exposure for the project!

Divi dipping into DeFi: StakeHound partnership announcement

We’ve been searching for a DeFi solution for a while. This move has been in the pipeline for a year. We’re so happy to have this over the line. NEM was recently listed on StakeHound which has done wonders for their ecosystem and coin value. We’re expecting the Divi Project to benefit significantly from this venture.

DeFI Divi StakeHound

We're announcing our partnership with DeFi platform StakeHound!

How does StakeHound work?

StakeHound uses Copper to secure all digital assets. We recently announced our partnership with Copper, so there is good synergy between the projects. When you deposit Divi on StakeHound, you receive Staked DIVI, known as stDIVI. You can stake your stDIVI on StakeHound or use it to participate in liquidity pools to increase earnings.

Liquidity Pools: Facilitating decentralized exchanges.

Liquidity pools are the foundation of the DeFi movement. They facilitate decentralized peer-to-peer exchanges. As a part of liquidity pooling, you are responsible for providing assets on both sides of the trade. For example, you would are required to lock both stDIVI and stETH (Staked ETH) into a liquidity pool smart contract to be eligible for rewards.

Why is this good for our ecosystem?

1) Exposure: We attract new investors, and are able to access new partnerships

2) Liquidity: Our community gets a new way to trade, with increased liquidity.

3) Earning avenues for Divi Holders: Use stDIVI in a liquidity pool, earn stakes, and arbitrage!

4) Divi Scarcity: Taking Divi off the market. As people move over to StakeHound (from nodes), ROR for node holders will increase as fewer nodes are around.

Divi Project Monthly AMA

Are you guys planning on adding 100 testers a week? That goal was announced weeks ago?

Yes, and we have been! We up to 200 testers right now. As we said earlier, if you want beta access, let us know in Telegram, and we’ll add you.

Any idea when StakeHound goes live?

StakeHound will be ready to go in a couple of weeks. Beyond that, we want to make sure marketing has everything to make the most of this partnership. It’s a big deal for us, and we expect to bring onboard more users because of it. We have press releases, videos, and content to get ready!

On what platforms will wrapped Divi exist? Is that something that will change a lot? What about Binance Smart Chain?

First up, we will just be on Ethereum. We are looking into Binance Smart Chain as well. We are looking at all places as a part of our Divi Everywhere mission. If it benefits Divi, we will be looking into it!

Will NFTs be integrated into the wallet in the future?

We will definitely do something in the future, primarily because of our relationship with Lightning Works and Wax. There are some more pressing integrations we have to work through, but it’s on the horizon.

Are we allowed to touch base on the tier-one exchange or the financial institution partnership? When will we hear more?

You will hear more when we know more! It sounds as if the financial institution is progressing along nicely. We’re expecting a summer launch, but like all things, it is a moving target. As you can imagine, the negotiations have been extensive. We are leaving no stone unturned. This partnership is a multifaceted one and will dictate what we can offer our community in the future. It’s a massive deal for us, so we are taking the necessary steps. We’re at the stage where it will be turned over to the lawyers, then hopefully signed! Regarding the exchange, we’re not even allowed to follow up with them to see how it’s going, so we’re just playing the waiting game.

Is it possible to integrate other solid coins into the wallet, for example, gift cards?

Of course! One of the first things we will do upon release is to integrate strong, top 100 coins. It’s a great way to grow the user base of the wallet. Many great coins don’t, and won’t develop a world-class mobile wallet. We can offer this to them. Through our financial partner, we may also be able to add gift-cards.

That's all for this month folks! Thanks for tuning in!

Until next time,

The Divi Team 🥳

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Kyle Turnbull

March 02, 2021 · 7 min read

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