Contributors of Synthetix proposed to acquire Derive through the exchange of SNX for DRV tokens, valuing it at $27 million, with an exchange rate of 27 DRV for 1 SNX. The acquisition will strengthen Synthetix's protocol capabilities on the Ethereum Mainnet, and DRV holders will receive SNX according to the vesting terms, locked up for 3 months, with a linear release over 9 months. To this end, 29.3 million SNX tokens will be issued. This acquisition is part of Synthetix's broader ecosystem integration strategy and may drive the launch of a derivatives trading exchange.

Key Notes Derive transitioned its airdrop initiative into a more rewarding DRV Launch Program, starting January 13, 2025. Users can earn DRV tokens through trading, depositing assets, and referring others to the platform. Derive plans to launch Derive Pro and new tools in 2025 to further

Derive cooperates with Ethena and allies with the Ethena network. Derive has implemented sUSDE as Collateral and established the first on-chain structured product for it. The Ethena Foundation has provided Derive with millions of dollars in funding. Derive occupies more than 75% of the on-chainOptions market share, with a weekly volume of approximately $250 million and a total locked position of over $80 million, serving over 50,000 users.