derive

ChainCatcher message, according to the Web3 asset data platform RootData X tracking data, in the past 7 days, the modular chain abstraction infrastructure Tria has been the project with the most new followers among X (Twitter) top personalities. New influential figures following this project include cryptocurrency analyst Phyrex(@Phyrex_Ni), 2Lambroz(@2lambro), and well-known airdrop blogger Fengmi (@KuiGas).In addition, the projects with the most followers among X top personalities also include Brevis, Derive, CoinDesk, and Yei Finance.

ChainCatcher news, according to The Block, Derive co-founder Nick Forster proposed to expand the supply of its native DRV token for the on-chain options exchange to retain core contributors and secure deals with institutional partners. The proposal calls for the minting of 500 million DRV tokens, increasing its supply by 50%, and allocating these tokens to the Derive Foundation (which will be renamed to Lyra Foundation). Forster stated that, according to the proposal's estimates, existing holders' tokens will be diluted by up to 8.25% annually over four years.As part of the proposal, Forster mentioned that Derive has "secured a significant partnership that will bring institutional-level liquidity and custodial services to the ecosystem," adding that the foundation "is in deep negotiations with several of the largest liquidity providers and traders to introduce deeper liquidity and launch new product lines."

ChainCatcher news, according to The Block, Derive founder Nick Forster stated that last week, publicly listed companies increased their holdings by approximately 330,000 ETH, surpassing the 250,000 ETH held by the U.S. spot Ethereum ETF. Currently, strategic reserve companies hold about 4% of the total ETH supply, while ETFs hold 5.5%. Derive expects that by the end of the year, institutions may cumulatively hold 6-10% of the supply.The short-term implied volatility of ETH options has dropped to 63%. BRN analysts pointed out that some companies' increased holdings could hedge against ETF fund outflows. ETH is currently priced at approximately $4,320, with a weekly decline of about 6%.

ChainCatcher news, according to The Block, after a strong surge in Bitcoin, Ethereum, and other major crypto assets last month, the recent performance of cryptocurrency prices has been lackluster, which seems to have prompted some market participants to turn to bearish positions.The crypto options platform Derive stated that its options positions expiring on August 29 have clearly leaned towards put options for Bitcoin and Ethereum, indicating that traders are hedging against a price decline before the end of the month.Sean Dawson, the research director at Derive, mentioned that the number of Ethereum put options expiring on August 29 has exceeded call options by more than 10%, with the highest interest concentrated at strike prices of $3200, $3000, and $2200.The analyst noted that this positioning aligns with expectations of "any scenario from a mild pullback to a deeper correction." The bearish inclination for Bitcoin is even more pronounced. The open interest for Bitcoin put options expiring on August 29 is nearly five times that of call options, with about half concentrated at the $95,000 strike price, and approximately a quarter at the $80,000 and $100,000 strike prices. The analyst pointed out that this distribution shows traders "are making a big bet that Bitcoin will fall below $100,000."

ChainCatcher message, Musk tweeted that the male character in Grok's humanoid companion will be named Valentine. The name is derived from the protagonist in Robert A. Heinlein's novel "Stranger in a Strange Land." He added that the term Grok comes from that novel, meaning "to understand something deeply and empathetically."

ChainCatcher message, Slow Mist's cosine tweet reminder, users need to be aware that the private key corresponding to the Sui address cannot derive the same address on Aptos, and they cannot be converted to each other. "For example, if you have Aptos and accidentally transfer to your Sui address, then the funds are lost, and we have researched and cannot retrieve them." "In other words, the same mnemonic phrase, when derived according to the logic of Aptos and Sui, results in different addresses. However, during the transfer, they are all considered valid addresses... starting with 0x, a total of 66 characters..."

ChainCatcher news, according to TheBlock, contributors from Synthetix and Derive have jointly withdrawn a $27 million transaction proposal, under which Synthetix would acquire the decentralized options platform Derive (formerly known as Lyra).The Derive team stated: After thoughtful discussions and community feedback, the SIP-415 and DIP proposals to merge Synthetix and Derive have been mutually withdrawn.Previously, Synthetix proposed to acquire the options protocol Derive in exchange for $27 million worth of tokens.

ChainCatcher news, according to Cointelegraph, the decentralized finance platform Synthetix has canceled its acquisition plan for the crypto options platform Derive worth $27 million due to negative feedback from the community. The acquisition was originally planned to exchange SNX and DRV tokens at a ratio of 1:27.Members of the Derive community expressed concerns about the token exchange ratio and the overall benefits of the acquisition for the platform. Some users claimed that Derive's revenue is actually higher than Synthetix's, and there are no clauses in the protocol that limit Synthetix from issuing additional tokens that could dilute value. Synthetix's strategic director Ben Celermajer stated that while some community members believed the deal was reasonable, both parties agreed to terminate the acquisition plan, which was originally intended to promote collaboration, due to the lack of expected response.

ChainCatcher news, the decentralized finance protocol Synthetix proposed on May 14 to acquire the decentralized options platform Derive (formerly known as Lyra) with a total transaction value of approximately $27 million. According to the SIP-415 proposal, Synthetix will issue up to 29.3 million SNX tokens at a ratio of 27:1 (with a 3-month lock-up and 9-month linear release) in exchange for Derive's DRV tokens.This acquisition requires approval from Synthetix's Spartan Council and Derive's governance body. If the transaction is completed, Synthetix will integrate Derive's order book perpetual contract trading technology and development team, further accelerating the construction of a derivatives protocol on the Ethereum mainnet. Derive's modular order book design and options mechanism experience will directly enhance Synthetix's core competitiveness, and its developed App-chain technology stack can be immediately deployed to the mainnet.This will be Synthetix's third ecological integration action in the past six months, following the acquisitions of Kwenta and TLX. Synthetix founder Kain Warwick stated that this integration will simplify the protocol architecture and governance, promoting the development of the derivatives platform.

ChainCatcher message, the on-chain options protocol Derive indicates that the Derive DAO will initiate a buyback of DRV on the open market. The first buyback will amount to $205,000, which is equivalent to 25% of the fees generated so far in January.

ChainCatcher news, Binance co-founder Zhao Changpeng previously retweeted a media report on the X platform stating that the UAE holds $40 billion worth of Bitcoin. Subsequently, some members of the community questioned this data, suggesting that the related report seemed like an AI-generated article. In response, Zhao Changpeng said, "I also want to know how they arrived at this exact number. The data collection is quite difficult and higher than I expected, but then again, there are many wealthy people there (in the UAE)."

ChainCatcher news, the on-chain options protocol Derive has raised $500,000 on echo. This round was co-invested by the community, individuals, and venture capital firms under the same terms, with G Gang and Patron groups leading the investment.

ChainCatcher news, the on-chain options protocol Derive indicates that despite the significant influx of funds into spot Ethereum ETFs suggesting an impending "supply-side crisis," data shows that the likelihood of Ethereum reaching the $5,000 mark by the end of 2024 is less than 10%. Derive's research director Sean Dawson noted in a market report on December 10 that the probability of Ethereum's price reaching $5,000 before December 27 had peaked at 16%, but has recently been adjusted to around 8%.According to CoinMarketCap, Ethereum needs to rise 37% from its current price of $3,669 to reach $5,000. Dawson also stated, "The distribution of bullish and bearish trades for ETH is balanced, indicating a neutral market sentiment." The current all-time high for Ethereum is $4,878, set in November 2021.

ChainCatcher news, according to official information, the on-chain options protocol Derive (formerly known as Lyra) announced that it will launch the DRV token on January 15, 2025.Ethena Labs officially stated that 5% of the DRV token supply will be allocated to sENA token stakers.

ChainCatcher news, the options protocol Derive (formerly known as Lyra) announced a partnership with Ethena, officially joining the Ethena Network. As part of the collaboration, the Ethena Foundation provided Derive with a multi-million dollar grant, while sENA token holders will be eligible to receive 5% of the DRV token supply from Derive DAO.It is reported that Derive currently holds over 75% of the on-chain options market share, with a weekly trading volume of approximately $250 million and a total locked value exceeding $80 million, serving over 50,000 users.

ChainCatcher news reports that an institution executed a $25 million hedge trade in the on-chain Bitcoin options market on Derive, betting that Bitcoin will continue to rise after the U.S. elections on November 5. This trade involves a bullish options strategy, aiming for Bitcoin to reach $80,000 before November 29, making it the largest on-chain options trade related to the U.S. elections to date.The institution purchased 100 call options with a strike price of $70,000, while selling 200 call options at $80,000 and 100 put options at $50,000, all set to expire on November 29.Nick Forster, co-founder of Derive, stated that this trade demonstrates the flexibility and scalability of on-chain options trading. If Bitcoin reaches $80,000 by November 29, this strategy could yield a profit of $1.02 million. Derive currently accounts for 32% of the total volume in decentralized exchange options trading, but the scale of the on-chain options market remains relatively small compared to centralized platforms like Deribit.

ChainCatcher news, according to official sources, the derivatives trading platform Derive (formerly Lyra) has announced the completion of its angel round financing, with participation from DCFGOD, EtherFi co-founder Rok Kopp, SPREEK, and others.Derive is a decentralized cryptocurrency options and perpetual contract trading platform that supports various financial applications and products for integrators, traders, and institutions, aiming to make its protocols and infrastructure easily accessible, paving the way for the next wave of on-chain innovation and breakthroughs.

ChainCatcher news, the derivatives protocol Derive (formerly Lyra) has released a governance proposal for the DRV token economics. The DRV token is planned to be launched in the fourth quarter, with a total supply of 1 billion tokens. LYRA/stkLYRA holders will have a 1:1 claim to DRV tokens, with the amount determined by the balance at the time of the snapshot. DRV will be issued on the Ethereum mainnet, with most being cross-chain claimed on Derive L2, and can be staked as stDRV (only on Derive L2), with only stDRV able to participate in governance.As a reward for staking DRV, stDRV holders will be eligible for rewards. The DAO treasury will allocate up to 1.15 million DRV weekly to the CC multisig for staking rewards, and after 6 months post-TGE, the weekly rewards will decrease to 600,000 DRV. 25% of the protocol's revenue will be used to buy back tokens for the DAO treasury. Additionally, up to 2.5 million DRV will be allocated weekly for various incentive programs for protocol usage (trading/liquidity, etc.).