Ethena Foundation provides millions of dollars in grants to Derive, sENA holders will receive 5% DRV

PANews reported on December 3 that the options protocol Derive (formerly Lyra) announced a partnership with Ethena and officially joined the Ethena Network. As part of the partnership, the Ethena Foundation provided Derive with a multi-million dollar grant, and sENA token holders will be eligible to receive 5% of the DRV token supply of Derive DAO.

It is reported that Derive currently occupies more than 75% of the on-chain options market share, with a weekly trading volume of approximately US$250 million, a total locked position of more than US$80 million, and more than 50,000 users. In this cooperation, Derive will use USDe as collateral in its perpetual contract DEX, and users can receive 20 times the Sats. At the same time, users who deposit at least US$10,000 USDe and meet the minimum trading volume threshold will be eligible for a large number of Derive points.