Divergence Upcoming Token Sale Announcement
Divergence, a decentralized protocol for options and volatility derivatives, is announcing the upcoming public sale of its native token, $DIVER, on SushiSwap’s MISO launchpad.
Divergence seen massive growth in its community for the past three months. Divergence has been built for the people an open, permission-less, derivatives exchange owned by its users.
Token Sale Details:
- When: Monday, 20 September 2021 at 01:00 PM UTC / 09:00 AM EDT
- 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)
Dutch Auction Mechanism
A Dutch auction is a type of auction in which the token price opens at a higher price and descends over time. The eventual offered price is settled upon once all tokens are sold. During the auction process, participants bid with the amount of capital they’d like to commit, and have the option to hold out until the price of the token decreases to a level they are comfortable with. In doing so, however, they face an increased risk of the token selling out before they commit to the purchase.
After public sale, DIVER tokens will be available for trading on SushiSwap. Divergence will route the majority of its proceeds and a proportional supply of $DIVER tokens to SushiSwap liquidity pool. This pool is expected to become the liquidity venue for the long term.
The $DIVER token is the governance token of the Divergence protocol. It is designed to empower our community members to vote and decide on the future direction of our protocol. Importantly, DIVER will be a productive asset that gains value from the growth of our protocol, as well as the markets created via our protocol.
ABOUT Divergence Protocol
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.
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