Diva Staking announces shutdown and will not launch mainnet

AT A GLANCE

Diva Staking announced that it would shut down the project and would not launch its mainnet; users who made deposits can withdraw them through Enzyme.

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Decentralized liquid staking protocol Diva announces shutdown and will not launch mainnet

BlockBeats news,October 29, decentralized liquid staking protocol Diva Staking announced on social media that it would shut down the project and would not launch its mainnet. The official statement said the decision was made after extensive discussion, and apologized to users who had made deposits into the Early Staker Vaults; the relevant deposits can be withdrawn through Enzyme, with no need to wait any longer.

The official statement said that after the team ran out of funding in mid-2024 year, three people continued working on the project for approximately 2 and a half years without revenue or compensation. They believed Ethereum needed a staking solution in which validator keys were not controlled by a small number of centralized entities, but they were no longer able to continue. Diva went live on the Hoodi testnet earlier this summer and had operated stably for approximately 4 months without any failures, but failed to obtain support from large institutions for a mainnet launch, while the three-person team was also unable to bear the cost of another audit and mainnet operations. The official statement emphasized that security was the priority, and that it chose to conclude honestly rather than launch recklessly.

The announcement also noted changes in market conditions: after the Shanghai upgrade, the structure of LST demand has changed; as of the end of June this year, BitMine,Coinbase、Binance together account for approximately ETH of total network staked 30%(approximately 11.5%、10.9%、7.9%), a concentration level comparable to the market’s earlier concern when Lido’s share approached one-third. The official statement also congratulated Lido on advancing Simple DVT and opening it to independent stakers.

Original link https://m.theblockbeats.info/flash/374253

Key points

Diva Staking announced on social media that it would shut down the project and would not launch its mainnet.
The official statement said that deposits in the Early Staker Vaults could be withdrawn through Enzyme, with no need to continue waiting.
The official statement said that after the team ran out of funding in mid-2024 year, three people continued working on the project without revenue or compensation for approximately 2 and a half years.
The official statement said that Diva had previously gone live on the Hoodi testnet and had operated stably for approximately 4 months without any failures.
The official statement said that the project did not receive assistance from large institutions to launch its mainnet, and that the three-person team could not bear the cost of another audit and mainnet operations.
The announcement said that as of the end of this year,June BitMine, Coinbase, and Binance accounted for approximately ETH of total network staked 11.5%、10.9%and 7.9%in total, respectively, approximately 30%。

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

Diva originally planned to provide decentralized liquid staking services, but the team said that it lacked sufficient funding, personnel, and mainnet launch resources. It therefore decided to stop the project rather than launch without being able to adequately ensure security. Users who made deposits into the Early Staker Vaults can apply for withdrawals through Enzyme as described in the announcement.

Why it matters to readers

The project will not enter mainnet, meaning that its planned staking service cannot be officially launched. For users who made deposits, the most immediate question is whether they can successfully recover their deposits through Enzyme. The announcement also expressed the team’s concern about staking concentration.

If you did not make a deposit into Diva’s Early Staker Vaults, the announcement does not state that you need to take any action; if you did make a deposit, you should focus on verifying the official withdrawal channel and the actual receipt of funds.

Risks and unknowns

The evidence does not provide a specific execution timeline for the shutdown.
The evidence does not state how the remaining assets, code maintenance, or other services will be handled.
It is not yet possible to confirm from the evidence whether all prepaid users have successfully withdrawn their funds.
Claims regarding the testnet operating without failures, funds being exhausted, and the staking proportion are all official statements relayed in reports; the evidence does not include independent verification materials.

Diva Staking announces shutdown and will not launch mainnet

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