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The liquidity staking protocol Diva announced its shutdown and will not launch the mainnet

The decentralized liquidity staking protocol Diva Staking announced on social media that it will shut down the project and will not launch the mainnet. The official statement said that this decision was made after thorough discussion and apologized to the early stakers who had pre-deposited in the vault, stating that related deposits can be withdrawn through Enzyme without further waiting.The official statement mentioned that the team has been operating for about two and a half years without income or salary since the funds were exhausted in mid-2024, with three members pushing the project forward. Diva went live on the Hoodi testnet earlier this summer and has been running stably for about four months without any issues, but failed to gain support from large institutions for the mainnet launch. The three-member team also could not bear the costs of a new round of audits and mainnet operations, thus choosing to wind down rather than risk launching.The announcement also stated that the demand structure for LST has changed after the Shanghai upgrade. As of the end of June this year, BitMine, Coinbase, and Binance together accounted for about 30% of the total staked ETH, with approximately 11.5%, 10.9%, and 7.9% respectively, which is comparable to the concentration when the market was concerned about Lido's share being close to one-third. The official also congratulated Lido for advancing Simple DVT and opening up to independent stakers.

first_img The Slop Cash token auction countdown is on, with a target of 400,000 USD

The Slop Cash page of the open-source funding channel shows that the auction for its token $SLOP has not yet started, with a countdown of about 9 days and 8 hours. The committed amount is $0, with a target of $400,000. The project claims to only pay for merged or accepted work, using GitHub as the factual source, with payment covering merged PRs, useful reviews, and confirmed serious security findings.The page states that $SLOP is issued by Umia, with the entity being the independent portfolio Slop Cash, S.P. under Umia Launcher SPC. Proceeds from the auction will go into a non-custodial on-chain treasury on the Robinhood Chain, with the use decided by holders through a decision market. The prize pool and contributor payments will use stablecoins or the project's own tokens, without using $SLOP. Initial contributor payments will be issued in September 2026, corresponding to work done in August, totaling 72 transfers of 6,005 USDC, involving elizaOS, ASI, and Slop itself.The total supply is fixed at 100 million tokens. The distribution listed on the page is 45% for the auction, 10% for the team, 14% for ecosystem and contributor programs, 2% for contributors, 9% for protocol-owned liquidity, 8% for the treasury, 2% for the initiator Umia, and 10% for performance reserves, stating that 56 million tokens will be in circulation at TGE. The CEO is Drew Pierson, and the CTO is Shaw Walters, who built elizaOS. Contracts related to Umia are audited by Certora, while the payment contract page for Slop states that it has not yet been independently audited.
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