DIVA Protocol is the first truly universal and flexible smart contract based operating system for derivative applications. With DIVA Protocol, developers can build a wide range of derivative applications, including insurance, structured products, prediction markets, conditional donations, and swaps, all in a permissionless and trustless way, without requiring smart contract programming skills. It is a smart contract-based operating system that addresses these issues. DIVA Protocol eliminates reliance on intermediaries, improves security by fully collateralizing products and eliminates counterparty risk. Additionally, it expands access to the creation of derivative products to a wider range of users, and improves liquidity by opening up the infrastructure layer for derivatives.