What Is Divi (DIVI)?
DIVI is the native token of the Divi network, which is a cryptocurrency financial blockchain platform. Its goal is to improve the acceptance of digital assets. It gives customers access to a variety of financial instruments for carrying out cryptocurrency transactions including a crypto wallet and various exchanges. In essence, Divi allows users to store, manage, and track digital assets.
The project was initially developed in 2017 on the Ethereum blockchain. However, Divi launched its own blockchain in 2018, and, by 2019, it had completely switched over to it. Besides, when the project was on Ethereum, its tokens were called DIVX. However, they were also switched from the ERC-20 token standard to a native coin of the Divi blockchain. 1 DIVX token was exchanged for 100 native DIVI coins. If you want to see the current DIVI price, check out the Divi price chart placed above.
The main product of the Divi Network is a digital crypto wallet, which is called the Smart Wallet. It allows users to store, manage, and transact their digital assets. It’s different from other crypto wallets since it allows users to name the confusing wallet addresses by the names of the recipients. The process of making transactions becomes less complicated because of that.
Besides that, the wallet has a Multi-Coin System, which means various crypto assets can be managed on it. Also, the Smart Wallet offers such features as scheduled payments, piggy bank, subscription transfer, billing, auto split, and tax separation.
To secure the network and approve transactions, Divi blockchain employs a Proof-of-Stake consensus mechanism. The mechanism relies on masternodes. Users of Divi can create masternodes using MOCCI, which is a masternode one-click cloud install system.
MOCCI enables anyone to set up a masternode, this way contributing to the protection of the Divi network, as well as the transaction validation. For doing that, users receive crypto rewards and gain access to a weekly lottery.
The unique MOCCI system has five tiers of masternodes, each of which has a different price for the collateral. The lowest level is Copper, which costs 100,000 DIVI, while the highest level is Diamond, which costs roughly 10,000,000 DIVI. Different tiers offer different bonuses ranging from 21.5% to 25.8% APR.
The Founders of Divi
Geoff McCabe is the founder of Divi. He is accompanied by Michael Greenwood and Nick Saponaro.
Geoff McCabe is an entrepreneur who has been in the crypto industry for quite a long time. Apart from founding Divi, he also founded such companies as LightningWorks, LetsGo, Cryptotomorrow, and Virtual Reality Times.
Michael Greenwood is the CTO of Divi. He is a seasoned software engineer with extensive knowledge in the fields of artificial intelligence, user experience, and security. Before founding Divi, he worked at Microsoft, Creative Factor, Identity Mine, Posh Technologies, and Xevo. Besides that, he co-founded Futureblock.
Nick Saponaro is the CEO of Divi. Though he began his career at Divi as a full-stack developer. Prior to working at Divi, Soprano was a freelance web developer. Overall, he is an entrepreneur and crypto enthusiast who frequently appears in the media discussing various crypto-related topics.
The Purpose of DIVI Coins
The following are the main use cases of DIVI coins:
- By utilizing the aforementioned MOCCI system, users receive rewards in DIVI coins for their contribution to the safety of the network;
- DIVI tokens can be staked in the Smart Wallet in order to receive weekly earnings;
- DIVI tokens can be used for purchasing services on the Divi network. For instance, it can be used to purchase custom names for wallet addresses;
- Since several online stores accept DIVI coins as a payment method, they can be used to purchase real-world products and services;
- DIVI holders can participate in the governance process of the network by voting on various decisions considering the future development of Divi.
Besides, don't forget to take a look at the Divi price chart that was mentioned before to see the live DIVI price.
Tokenomics of DIVI
The initial coin offering (ICO) for the previous version of DIVI tokens (DIVX) was initially held in 2017. The majority of the tokens (80%) were dedicated to the token sale, while the remaining portion was set aside for the developers, influencers, and Mass Adoption Strategies.
However, as mentioned before, DIVX holders were able to exchange their tokens for DIVI coins after the Divi blockchain was launched.
617,160,700 DIVI coins were initially made available for use. However, due to new DIVI coins that are minted with each block, the supply keeps increasing each year. Initially, block rewards were set to 1,250 coins per block. However, they will gradually decrease until they reach 250 DIVI per block, which is estimated to happen by 2029.
45% of block rewards go to masternodes while 38% go to DIVI stakers. The remaining portion is set aside for the development and marketing treasury as well as the exchange and liquidity treasury. Besides, 1% goes to charity.
If you decided to buy DIVI coins, do keep in mind that the fluctuations of the whole crypto market tend to affect the DIVI price. Though this is usually the case with most crypto assets. If you want to see the main trends in the DIVI price changes, make sure to analyze its price chart.
