All the best bits from the Live at 5 in one place. Catch up on the month of October!
November 07, 2021 · 12 min read
As always we appreciate all of our amazing DIVI supporters from around the world who take the time to watch the monthly livestream and/or read our blog updates. Thank you! Building a community of informed participants is crucial for our growth.
Nick was very excited to update the community this month. He started by reiterating the DIVI philosophy: We make cryptocurrency more accessible to everyone everywhere. We do this by offering technologies that make it as easy as possible to start earning, sending and spending crypto. We launched MOCCI which is our masternode one-click cloud installer back in September of 2018 and it’s still the easiest way to earn cryptocurrency at the click of a button. With the Divi Wallet you can now launch a masternode or a staking vault from your mobile phone worldwide! If you haven’t already you should definitely go download the Divi Wallet from the Apple App store or the Google Play store.
Dubai was a smashing success. Divi Labs was a gold sponsor at World Blockchain Summit, which significantly increased brand awareness. Nick was able to present to a variety of investors and industry leaders. Then, unfortunately, Nick tested positive for Covid-19. Fortunately he had only minor symptoms and recovered quickly. He was forced to quarantine and extend his stay a bit. But the extended stay actually ended up being conducive to some additional opportunities. This was one of the most productive trips that the Divi Labs team has ever conducted. Conferences are really important for building trust through in person interaction. The in person interaction with potential partners, investors and community members is necessary and irreplaceable. We’ll touch on more of the Dubai accomplishments throughout this episode. Although not all details are ready to be made public at this time just know Dubai went really well and we’ve got some huge surprises coming.
If you'd like to see some video highlights of the Dubai trip:
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We’ve seen Ethereum and many other projects hit new all time highs which is really exciting to see. However, the recent 'rug-pull' of the squid games meme coin is a perfect example of what happens when euphoria sets it. If you're not familiar with the term, it usually refers to when project owners, the people who deployed the smart contract on which the token is operating, take all of the liquidity out of the market leaving investors unable to buy or sell. Meme coins are not inherently bad. In fact, they are a powerful way to create an easy entry point for newcomers to the space. However, most meme coins have zero utility and essentially represent gambling. Be careful and do your research. Knowing who you are investing in is paramount to succeeding in this space. We believe good projects have strong fundamentals, real technology and utility, and a focus on bringing value to their coin holders.
🚀 Staking vaults launched just last month and we already have 1,107 vaults running!
🔥 35 million DIVI allocated to vaults!
🚀 913 million estimated DIVI currently in staking nodes.
🔥 1.3 billion DIVI currently locked in masternodes.
🚀 53% of the circulating supply uses Divi Labs solutions to secure the network.
Congratulations to the owner of the longest running DIVI node! There is a silver masternode that has been running for 804 days, 8 hours and 41 minutes. It’s earned 141,030 divi over its lifetime for about a 47% return. Congratulations anon!
👉 Divi Labs is the primary development company building the technology that the DIVI foundation uses. The DIVI blockchain, wallet, staking vaults and MOCCI were all developed by Divi Labs.
💵 Raising funds for Divi Labs allows us to scale the team and build faster. It also allows more business to business opportunities.
🤝 The series A creates greater opportunity to collaborate with and onboard new communities. We’re currently talking to Casper Labs and other coins that may want to integrate into the Divi Wallet.
🏗 Raising funds mitigates Divi Labs' reliance on treasury blocks. We want to use the treasury grants as incentive for other developers to build great stuff for the DIVI ecosystem.
💼 We’ve been speaking with private investors, hedge funds and VCs.
💰 $2.5M has already been committed to the raise and we have a ton of pitches coming up.
🤫 Russel Doolittle (CFO) is back in Dubai for more meetings with investors as well as some secret missions that we will hopefully be able to share more about in the next few weeks and months.
✈️ Josh Caleb (CINO) has been around the world with Nick pitching. They were recently in Florida, Houston and Seattle and next week they will be pitching in the UK and Portugal for investors interested in the series A round.
Nick had planned to go to El Salvador next month but some other opportunities have arisen and he also needs to focus on the series A round. Geoff McCabe (Chairman) will represent DIVI in El Salvador next month instead which should be fortuitous as Geoff already has some good relationships built in El Salvador. Geoff has been incredibly busy and has so many updates for the community that he will take over next months show. Siege Worlds, LightningWorks and much more.
We were contacted 6-8 months ago by an organization that builds telecommunications for the developed and the developing world. They want to build our technology into their ecosystem so that they can subsidize the cost of data for developing nations. We will soon be able to announce the name of this company in a big press release. Divi Labs receives $12.5 million for licensing our technology but this also opens the door to millions of users for DIVI. This is a huge deal. Divi Labs and our new partner are both very excited to go live.
In addition to helping Nick pitch investors, Josh has been hard at work building emerging solutions. One key initiative which will help support a robust ecosystem is the DIVI bridge, which is essentially ready to go live immediately. Another important initiative has been building a relationship with an institutional custody provider and a dedicated OTC desk partner. With these relationships in place all large orders will go through the market helping to increase volume and liquidity.
One of our long time DIVI community members Ramos has spent many months working to help feed his community. On November 19th Ramos and his team have a medical day planned to offer free medical care to 300 kids and 50 pregnant women. They are trying to raise 15,000 DIVI to help cover expenses. If you would like to donate join us in the official DIVI telegram for more details.
It is extremely important to us that grass roots community efforts that are making a real difference in peoples lives are supported. The DIVI team will be donating a small amount of DIVI to support this cause. Every DIVI will make a huge impact. Thank you to Ramos, his team and community and to everyone who is supportive through their thoughts, words and actions.
As a result of some of the amazing work that we did in Dubai, we are in the final stages of securing a huge multi year sponsorship deal that will expose millions of people to DIVI around the globe. This will be a game changing partnership for us. We have to be a little bit careful about how we say this because we are under NDA. What they have allowed us to say is that we’ve signed a letter of intent and we’re working through the initial contract. We will tell you as much as we possibly can as we move forward. There will be a lot of press releases and big announcements coming out through influencers and the media. We are looking to get this over the line and announce this before the end of the year. We can’t wait to tell you more.
Q: How does DIVI work alongside or compete with bitcoin’s Lightning Network and apps powered by its network like Strike?
A: Lightning is a remarkable technology and it’s come a long way since its inception. DIVI has the proper technology in place to implement our own Lightning Network. As transaction volume increases on the DIVI blockchain this may be implemented but cur,rently it is not needed.
Q: Why is DIVI wallet better than other self-sovereign multi-coin wallets?
A: Chris Airola, our CPO, did a good job of answering this question in our last Live at 5. We took a look at what was most important to our ecosystem first which was our unique IP: MOCCI, staking vaults. That implementation has attracted a lot more interest than some of the more common features like send and receive to a phone number or username. We now have other projects approaching us wanting to be included in the Divi Wallet because we’ve proven that we can make not just sending and receiving easy but we make earning easy as well. Most coins offer staking at this pont, or some sort of earnings mechanism. What sets us apart is that we implement very sophisticated technologies in a very simplified way. There are great wallets out there are we are never going to be the only one. We think we are one of the best options but we are certainly a little biased.
Q: What would cause someone not particularly interested in DIVI to switch from another wallet to the Divi Wallet?
A: This is essentially the same as the last question. One way that we will attract users to the Divi Wallet is by including their favorite coins as a part of our ecosystem. We’re excited about the prospect of extending our user user-friendlyfriendly technology solutions to new communities.
Q: Having these amazing deals with lots of user exposure is great. However, with so much DIVI locked up staking and in masternodes, how will you provide the liquidity to support this amount of users?
A: We cannot directly control the liquidity of the network. However, there are tons of coins in the ecosystem. As the price increases, you will see liquidity appear. We do have multiple initiatives in place that will support a more robust ecosystem conducive to greater liquidity. The DeFi bridge is a good example of this.
Q: Is it possible to add hide your balance on Divi Wallet?
A: We do have a feature to hide your balance in the desktop wallet and it’s in the backlog for the mobile wallet. It’s not a super critical task but it will get done.
Q: Actually, what is DIVI 3.0? Is that final?
A: We are looking at different ways to implement the next phase of our technology. We’ve looked at building a new core on Substrate using rust. We’re also of course looking at building these bridges. Right now the bridges make the most sense. The core blockchain works really well. It’s tested; tried and true. UTXO blockchains are really secure and we’ve proven that. Of course, Bitcoin has proven that time and time again. They’re proof of work we’re proof of stake which is very secure due to the number of people staking and running nodes around the world. Right now the focus is on bridging to whatever ecosystems can provide our users the most value. Later we will be thinking about how to implement our own smart contract framework on DIVI. One possibility is a hybrid side side-chain layer on top of DIVI another is completely rebuilding the core. All options are still on the table at this point. We will keep you updated and we’d love to hear your input as well.
Q: When will the DIVI/fiat ramp and debit cards be available?
A: Fiat on/off-ramp will be done this quarter. The debit cards we can’t get into just yet but they still are on the horizon.
Q: Is there an affiliate plan coming to help spread the global adoption of the wallet?
A: Yes. The immediate focus is swaps and fiat on/off-ramp. The referral program should roll out soon after.
Q: When staking vaults on Windows?
A: In the desktop wallet (for Windows, Linux, and Mac) the team is currently working on implementing MultiSig but in tandem, they have been working on staking vaults. It’s definitely something we want to see in the desktop wallet but for now, you can make use of it in the mobile wallet.
We hope you are as excited as we are about the road ahead. The partnerships that DIVI is building could be absolutely massive. Our one ask from all of you, our amazing community of supporters is: spread the word. Get out there and talk about these amazing updates. We’ll be posting clips of this episode so that it’s easily sharable. We’ve built this company from essentially a grass roots community movement. We’ve stayed true to our fundamentals. We’ve stayed true to our philosophy. We've built the foundation, we are now prepared for rapid growth.
This next phase is something that no one is going to be able to predict the outcome of. DIVI is going fully global. We cannot thank our supporters enough. Especially those who have stuck with us since the early days and those who have brought us opportunities and helped us to grow this network and ecosystem naturally, organically and holistically. It means a lot to us and we want to hear more from you. We want to hear your questions and suggestions and your problems, bring it all to us. Reach out to us on telegram, submit feedback and questions to our google form. It has been such an amazing year so far and there’s so much more to come. This last quarter is going to be huge for DIVI. We can’t wait until we can share more with you. Thank you and see you next time!
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November 07, 2021 · 12 min read