Divergence is Building on Arbitrum!
Dear Divers,
We hear you: ETH gas fees are too damn high!!!🤷♂️
While Divergence V1 is chain agnostic and gas-optimized for Ethereum layer 1, we’ve decided to take a step further and make Ethereum layer 2 our initial stop. We’re excited to share that our V1 will be first deployed on Arbitrum!
After this implementation, you’ll see a remarkable reduction in gas costs when trading binary options on Divergence. On the whole, our V1 platform will be much more scalable because it would be able to accommodate more trade volume and smaller-sized orders.
Dive Into Layer 2
Ever since we released our public beta on the Ethereum Kovan network, we’ve received extensive feedback from the community, including concerns on how Ethereum is becoming increasingly expensive given more and more applications are being used.
As a community governed protocol, we prioritize our community value and user experience. We took a dive into various alternatives to launching directly on the Ethereum Mainnet. Of those novel solutions to help Ethereum scale, the Arbitrum network — which uses the roll-up technique — stands out. It enables high-throughput, low-cost smart contracts while remaining trustlessly secure. It also offers similar functionality to the Ethereum Mainnet and allows developers to build and run dApps just like they would on the main chain.
We have now decided to start with Arbitrum, so y’all can trade in a cost-efficient environment without sacrificing the decentralization and security that we value!
Divergence V1 Beta 2.0 Launch
After some time spent working on several different optimizations, we’ll soon present to the community our V1 Beta 2.0 on Arbitrum Rinkeby where you can get a sense of what trading and hedging feel like in an L2 environment.
Note: Although critical feedback has been addressed, we’ll continue to monitor, improve user experience interacting with our App and fix bugs we find. Besides, as a new piece of software, the Arbitrum network is still in need of rigorous testing, and you may run into issues when the Testnet experiences downtime. Malfunctions from Graph might also impact user experience.
What happens to the $DIVER token?
The DIVER token will remain as an ERC20, but soon can be bridged over to Arbitrum Network for circulating and trading on DEXs there. We will release a detailed user guide on how to use the Arbitrum bridge (https://bridge.arbitrum.io/) to move $DIVER across Ethereum L1 and L2. Please stay tuned for announcements.
About Divergence
Divergence is a decentralized platform for hedging, trading DeFi-native asset volatility, with its flagship product being an AMM-based marketplace trading synthetic binary options.
Follow Us
🔔Website: https://www.divergence-protocol.com/
💬Telegram: https://t.me/divergenceprotocol
🚀Twitter: https://twitter.com/divergencedefi
📢Telegram Announcements: https://t.me/divergenceannouncement
📺Youtube: https://www.youtube.com/c/DivergenceProtocol
👓Discord: https://discord.com/invite/v96fhsPfRa
