Derive (DRV)USD

Derive is a self-custodial, on-chain derivatives exchange built on Ethereum and a dedicated Layer 2. Users trade options and perpetual futures directly from self-custodied wallets. The project grew out of Lyra Finance, a derivatives protocol whose development began around 2021 under that name. The Derive L2 uses the OP Stack and operates as part of the Superchain, with Ethereum proof-of-stake providing Layer 1 security and rollup infrastructure handling exchange operations. The DRV token launched on January 15, 2025, replacing the earlier LYRA token through a one-to-one migration, with an additional airdrop distributed to users at launch. DRV is used for governance through the Derive DAO, staking in exchange for stDRV to earn rewards and participate in governance, and economic alignment through trading incentives, fee sharing, and protocol revenue buybacks. DRV is an ERC-20 token with a maximum supply of 1.5 billion, increased from an original cap of 1.0 billion following a strategic mint, with emissions and unlocks ongoing. Token holders receive governance rights, staking rewards, and a share of exchange revenue.