DIVA Protocol

Key features

Key features of DIVA Protocol in one view
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    Permissionless: Anyone can create and settle derivative assets on anything without an intermediary.
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    Fully collateralized: The solvency of each position token is guaranteed by the collateral locked in the DIVA smart contract, which eliminates counterparty risk and the need for margin calls.
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    Highly customizable:
    • Underlyings: The underlyings are not limited to prices of traded assets such as BTC or ETH but may include any other non-traded metric with a public data feed such as the TVL locked in DeFi, Ethereum gas price, Bitcoin hash rate, the total crypto market cap, or the amount hacked in a DeFi protocol.
    • Payoffs: DIVA Protocol offers a wide range payoff profiles including linear, binary, convex, and concave payoff curves.
    • Oracles: DIVA Protocol is oracle agnostic meaning that any oracle including trusted individual accounts, existing decentralized oracles solutions like Chainlink, Tellor or DIA or custom oracle smart contracts can be used.
    • Collateral token: DIVA Protocol allows to use a wide range of ERC20 token as collateral including DAI, USDC, USDT, WBTC, WETH, as well as interest/yield bearing tokens such as Compound's cDAI token or wrapped staked ETH (wstETH).
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    Univeral settlement mechanism: DIVA Protocol implements a flexible settlement mechanism to accomodate different types of oracles including human oracles as well as decentralized oracle solutions such as Tellor, DIA, Band or Chainlink. In particular, it implements an optional dispute mechanism as well as a fallback layer to ensure that position tokens are settled correctly.