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Depositing Into Diva Vaults
No. Deposits shall be made following the Enzyme UI without sending funds directly to the vault address. Funds sent directly to the address would not mint new vault shares for the depositor so the value would be "airdropped" to the current shareholders and therefore lost by the depositor.
- Wallet address used for deposit.
- Type of wallet (e.g., Metamask, Gnosis, Ledger).
- Connection method (e.g., via WalletConnect, Ledger through Metamask).
- Steps you took when the issue occurred.
- Any screenshots of the error you witnessed.
If your Safe is doing on-chain signatures, it will not work. You will need to do off-chain signatures. You should be able to change this in “Settings” -> “Safe Apps” -> “Signing Method”, which should be left unchecked.
As you can also see from the T&Cs approved on DIP-02, the accrual of DIVA won't start until 30 days prior to mainnet launch. Since that date is still to be determined, the accrual will be accounted as a 30-day lookback from the launch date. As the launch date approaches, we'll
see how we can hook up our API with a dashboard that gives each staker a personalised overview of the DIVA accrued to date. Since rewards (i.e. DIVA/ETH/Day) are decreasing as TVL grows, today's deposits are useful to lock in the highest tier.
The stETH denominated vault accepts stETH deposits (kinda obvious) but also ETH deposits. In case someone comes with ETH, the protocol automatically converts ETH into the denomination asset during the deposit process, using Paraswap. In other words, you don't have to convert/mint stETH yourself and the asset that lands on the vault is always the denomination one. This is a standard of the Enzyme architecture across all vaults.
No. DIVA rewards will be the same for both vaults. The only difference is that the stETH vault will keep earning you staking rewards through the LST rebasing mechanism on top of DIVA incentives.
That's because as time goes by the vault starts to accrue rebasing ETH staking rewards on the pre-existing AUM so the vault share DSTVL starts to appreciate relative to stETH in a non-rebasing manner. A good example of this is the Unslashed Finance vault, where you can see the share appreciation over time as a result of stETH rewards.
The handover refers to the moment when the ownership of the Enzyme vaults is transferred from Avantgarde Treasury to Diva DAO. Enzyme is a non-custodial fund management protocol where owning a vault doesn’t imply owning the funds within it.
No, the Diva vaults on Enzyme operate on a non-custodial basis, meaning that only the stakers, who have received vault shares upon their deposit, can access the funds. There are no custodians involved in this setup.
Currently, a 2/4 signature is needed for any change to the vault configuration, soon transitioning to a 3/5 consensus. Additionally, a 7-day timelock is triggered in the event of a configuration change, allowing stakers to redeem their assets in case the change is unauthorized before it takes effect.
Once ownership transition is completed, any modifications will require an on-chain DAO vote, extending the notice window for all stakeholders, thereby enhancing security and stakeholder involvement.
The handover has not occurred yet to avoid potential UX/UI frustrations and delays in implementation. Concerns include the current clunky UI/UX for changing granular vault settings from Tally and the necessity for vault reconfiguration to add connectivity to Lido native redemption and to Diva’s staking/divETH minting.
In the short term, the plan involves increasing the signature threshold of Avantgarde Treasury's multisig to 3/5 signers and arranging a technical AMA with Enzyme’s auditor. In the medium term, the plan includes accelerating conversations with Tally & Aragon regarding the adjustment of granular vault settings following a successful on-chain DAO vote, defining a clear ETA for secure implementation and ownership transfer, and proposing and voting on the handover of vault ownership to Diva DAO
The multisig security requires a specific number of signatures (2/4 initially, transitioning to 3/5) for any change to the vault configuration, ensuring that no single entity can make unilateral changes and enhancing the overall security of the vaults.
If an any configuration change occurs, a 7-day timelock is initiated. Stakers can use this window to redeem their assets before the changes are implemented, ensuring they retain control over their holdings.
More information on signalling an upgrade and the overall architectural design can be found here:
Avantgarde Treasury is fully committed to transferring ownership to the DAO. The completion of this transition means that any future modifications will necessitate an on-chain DAO vote, thereby extending the notice window for all stakeholders and enhancing democratic decision-making processes.