Ethena Foundation provides millions of dollars in funding to Derive, and sENA holder will receive 5% DRV

In the latest TechFlow news, on December 3rd, on-chainOptionsprotocol Derive (as Lyra) is collaborating with Ethena and allying with the Ethena network. This is an extension of the existing collaboration between Ethena and Derive. Derive has established sUSDE as Collateral on Derive and created the first on-chain structured product for sUSDE. As part of the collaboration, the Ethena Foundation has provided millions of dollars in funding to Derive, while sENA Tokenholders will be eligible for 5% of the DRV Token supply from the Derive DAO.

It is reported that Derive currently holds over 75% of the on-chain Options market, with a weekly volume of about 2.5 billion US dollars, a total locked position of over 80 million US dollars, and more than 50,000 users.