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

Deep Tide TechFlow news, on December 3rd, the on-chain options protocol Derive (part of Lyra) is collaborating with Ethena and forming an alliance with the Ethena network. This is an extension of the existing partnership between Ethena and Derive. Derive has established sUSDE as collateral on Derive and has created the first on-chain structured product for sUSDE. As part of the partnership, the Ethena Foundation has provided Derive with millions of dollars in funding, 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 amount exceeding $80 million, serving over 50,000 users.