ChainCatcher News, the options protocol Derive (formerly known as Lyra) has partnered with Ethena and officially joined the Ethena Network. In this collaboration, the Ethena Foundation provided Derive with millions of dollars in grants, and sENA token holders will also have the opportunity to receive 5% of the DRV token supply from Derive DAO.

Derive has shown strong performance in the on-chain options market, capturing over 75% of the market share, with a weekly trading volume of approximately $250 million, a total locked amount exceeding $80 million, and over 50,000 users. This collaboration could bring more development opportunities for Derive, while also adding new vitality to the Ethena Network. 🔗📈