derive

Decentralised.co published: The on-chain options trading volume is still less than 1% of perpetual contract DEX, while traditional market options trading is about three times that of futures. The institution backtested Bitcoin daily closing prices from January 2018 to October 2026, finding that among the ultimately profitable longs, the liquidation probabilities for 10x perpetual contracts over 180 days, 90 days, and 60 days were 47%, 29%, and 18%, respectively. It replayed three $1,000 Bitcoin longs on October 10, 2025: the 10x perpetual was liquidated at 21:14, the 30-day call option dropped to a low of $181 but returned to over $800 within an hour, and a $52 7-day put option helped the 10x long survive the downturn.Decentralised.co: In the past, on-chain options often failed due to fragmented order books, difficult hedging, and locked funds. Hegic depositors lost most of about $80 million in May 2021, Lyra depositors experienced a 4.9% loss in the Bitcoin pool and a 17.6% loss in the Ethereum pool within 7 months, and PsyOptions closed its product in June 2024. With the combination of perpetual liquidity like Hyperliquid, the locked funds required to sell a Bitcoin call option could be reduced from about $100,000 to about $15,000, while monthly returns increased from 1.8% to about 12%.The article lists Hyperliquid as the main venue for hedging liquidity, with the options protocol Derive (formerly Lyra) as the underlying engine, Paradex handling large trades, and Hypercall being the first options venue built on Hyperliquid. Derive liquidated about $18 billion in notional options value in the year ending October 19. After Paradex integrated with Paradigm on September 15, the date options trading volume increased from less than $3 million to $58.7 million within a week, and open contracts decreased from over $250 million to about $96 million by October 14. By September 2026, the notional value of on-chain options is expected to double to $5 billion, with premiums rising to $85 million.

According to Bloomberg, the cryptocurrency market is experiencing a tug-of-war between bulls and bears, with analysts still leaning bullish, but the speculative market is shifting towards defense, putting pressure on risk appetite. Bitcoin briefly fell below $80,000 for the first time in nearly a month; affected by the sell-off in the U.S. stock market's AI sector, risk assets retreated, and the bullish sentiment that the cryptocurrency market was trying to rebuild was once again thwarted.Jeff Anderson, head of STS Digital in the U.S., stated that inflation data will "severely impact risk appetite," and the market is entering a quiet period before the Federal Reserve's interest rate meeting, with interest rate expectations still uncertain. Nick Forster, founder of Derive.xyz, mentioned that in the past 24 hours, the market's pricing of Bitcoin's probability of rising to $100,000 before Christmas has decreased by 2.8 percentage points to 9.7%; long-term bullish bets have quickly retreated, short-term hedging demand has surged, and institutions are reassessing macro risk exposure as the interest rate outlook becomes unclear again.

OAK Research researcher Lilian Aliaga wrote that the on-chain options protocol Derive (formerly Lyra) has a nominal trading volume of $14.22 billion since January this year, approximately 2.6 times that of the entire year of 2025, accounting for nearly 75% of the on-chain options nominal trading volume and 88.1% of the paid premiums. The nominal trading volume in September was $3.43 billion, and it has exceeded $1 billion in the first week of October.The article states that Derive completed its V3 migration on October 6, 2026, abandoning its own chain and opting for zero-knowledge applications to settle directly on Ethereum, planning to become an options engine accessible to other applications. V3 introduces mutually isolated risk domains, including Prime covering BTC and ETH, an independent HYPE domain, an Alt domain covering SOL, XRP, ZEC, and DOGE, and an RWA domain covering tokenized gold.According to the article, Derive launched V2 in December 2023, replacing automated market makers with an order book as the main source of liquidity, and will launch portfolio margin in February 2024; Lyra will be renamed Derive in August 2024, and DRV will be launched in January 2025. In October 2025, FalconX became the publicly confirmed institutional market maker quoting on Derive, with collateral retained on its own side and positions represented on-chain in fxUSDC.

On-chain derivatives protocol Derive has released a new proposal in its governance forum, aiming to expand its business into the regulated derivatives market in the United States. Community members can review the proposal and participate in the discussion.Derive is an on-chain derivatives protocol aimed at professional traders, offering trading products such as options and perpetual contracts, and employs an off-chain matching and on-chain settlement architecture. The proposal is currently in the community discussion phase, and the specific regulatory path, partners, and timeline will be based on the content of the forum proposal.

On-chain options protocol Derive announced that Derive V3 has been launched, the migration has been successfully completed, and trading has resumed. The team stated that this rebuild aims to continue the growth of its on-chain options business, with custody located on Ethereum, margin and settlement using zero-knowledge proofs, and order matching latency below 1 millisecond.According to the announcement, V3 supports the launch of no-code vaults and charges fees, and funds can also be released through ETH and BTC risk offset. Related features also cover yields and lending for ETH, WBTC, HYPE, and USDC, and accelerate the onboarding of crypto assets with real-world assets. Developers can build applications on Derive with less configuration and earn fees.Derive stated that new markets, vaults, and partner integrations will be launched on this basis in the coming weeks. The project indicated that its on-chain options business has been operating for over 5 years.

On-chain derivatives protocol Derive announced on X that a new governance proposal has been launched on the Derive forum, aiming to increase the proportion of protocol revenue allocated to DRV buybacks to 50%.Derive stated that community members can review the proposal and share their opinions, and the relevant discussion is now open. DRV is the protocol token of Derive, and this proposal involves the allocation ratio of protocol revenue used for token buybacks.

On September 13, Derive forum user domrom published a DIP proposal to deploy and launch Derive V3 (a zkVM program settled on the Ethereum mainnet), migrating all V2 positions and balances to the V3 genesis state, transferring bridge funds to L1, and shutting down Derive Chain after the migration is complete.The proposal states that as of September 7, 2026, Derive accounts for approximately 95% of the on-chain options premium trading volume over the previous 30 days, with open contracts totaling about $2 billion. V3 is a zero-knowledge exchange, where the state transitions of the matching engine and sequencer are executed in zkVM and verified on Ethereum L1, with user funds held in L1 contracts, aiming for L2Beat Stage 1. The migration is not a redeposit; it will generate the genesis state based on a snapshot of Derive Chain, with stDRV deployed to the Ethereum mainnet and DRV OFT connected to Robinhood Chain.The timeline will be announced at least 14 days in advance after approval; bridging will be frozen before migration, trading will be paused, and a snapshot will be taken after settlement, followed by the resumption of trading. Rewards can be claimed on Optimism until February 1, 2027.

Ramp's data head Ara Kharazian posted that Ramp's latest data shows that AI company revenues are highly dependent on a small number of clients, with 80% of OpenAI and Anthropic's corporate revenue coming from 1% of clients, and this situation has not improved.Kharazian stated that this level of concentration risk is not seen in any other software category he tracks, with the top 1% of client companies heavily skewed towards the technology sector and AI products and services, especially as OpenAI and Anthropic approach their IPOs.

UPBIT will launch trading for Derive (DRV) on July 14 at 17:00, supporting KRW, BTC, and USDT markets. Users can start depositing within 2 hours after the announcement is released, and trading support will begin at the aforementioned time.

According to official news, Coinbase announced that spot trading for MetaDAO and Derive will go live on May 27, 2026.The META-USD and DRV-USD trading pairs will open at or after 9 AM Pacific Time (provided liquidity conditions are met) and will be officially enabled in regions that support trading.

Coinbase announced that it will add MetaDAO (META) and Derive (DRV) to the asset listing roadmap.

According to official news, the Binance wallet plugin now supports mnemonic-derived accounts. By backing up a set of mnemonics, you can derive up to 99 independent accounts.It can protect the security of mnemonics and efficiently manage accounts; multi-chain support allows a single account to be used across chains. The supported plugin version is 1.12.0 and above.

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.