{"id":23977,"date":"2025-05-14T13:21:36","date_gmt":"2025-05-14T10:21:36","guid":{"rendered":"https:\/\/forklog.com\/en\/synthetix-to-reintegrate-derive-options-protocol-in-27-million-deal\/"},"modified":"2025-05-14T13:21:36","modified_gmt":"2025-05-14T10:21:36","slug":"synthetix-to-reintegrate-derive-options-protocol-in-27-million-deal","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/synthetix-to-reintegrate-derive-options-protocol-in-27-million-deal\/","title":{"rendered":"Synthetix to Reintegrate Derive Options Protocol in $27 Million Deal"},"content":{"rendered":"<p>The team behind the DeFi platform for synthetic assets, <a href=\"https:\/\/hub.forklog.com\/proekt-dlya-sozdaniya-sinteticheskih-aktivov-synthetix\/\">Synthetix<\/a>, has proposed the acquisition of a former ecosystem project\u2014the decentralized options protocol Derive (formerly Lyra).<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">As part of our full-force drive towards Synthetix v4 on Ethereum mainnet, a new proposal has just dropped: <\/p>\n<p>Synthetix to acquire <a href=\"https:\/\/twitter.com\/derivexyz?ref_src=twsrc%5Etfw\">@derivexyz<\/a> Perps &#038; options Exchange <a href=\"https:\/\/t.co\/wC7jRyCJqR\">https:\/\/t.co\/wC7jRyCJqR<\/a>\u2026 <\/p>\n<p>Let\u2019s break it down (1\/6) ?<\/p>\n<p>\u2014 Synthetix \u2694\ufe0f (@synthetix_io) <a href=\"https:\/\/twitter.com\/synthetix_io\/status\/1922508806829048252?ref_src=twsrc%5Etfw\">May 14, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <span data-descr=\"Synthetix Improvement Proposal \u2014 \u043f\u0440\u0435\u0434\u043b\u043e\u0436\u0435\u043d\u0438\u0435 \u043f\u043e \u0443\u043b\u0443\u0447\u0448\u0435\u043d\u0438\u044e Synthetix\" class=\"old_tooltip\">SIP<\/span>-415, the transaction is planned through a token swap between DRV and SNX at a ratio of 27:1. The deal is valued at approximately $27 million.\u00a0<\/p>\n<p>To facilitate the purchase, Synthetix will issue 29.3 million SNX with a three-month lock-up period followed by a 180-day linear vesting period.<\/p>\n<p>The proposal requires approval from both projects&#8217; communities.<\/p>\n<p>The acquisition aligns with Synthetix&#8217;s strategy of vertical reintegration to enhance the platform&#8217;s capabilities on the Ethereum mainnet. Previously, the DeFi project reacquired the <span data-descr=\"platform for perpetual futures\" class=\"old_tooltip\">Kwenta<\/span> and <span data-descr=\"platform for leveraged tokens\" class=\"old_tooltip\">TLX<\/span> protocols into its ecosystem through acquisitions.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cDerive was born from the same DNA. Reuniting under one banner simplifies our architecture and governance and opens the next phase. It\u2019s like children who leave to create their own successful startups and return to join the family business,\u201d said Synthetix founder Kain Warwick.<\/p>\n<\/blockquote>\n<p>The project noted that integrating Derive&#8217;s technology will enable the launch of Synthetix Options Exchange\u2014a competitor to crypto derivatives trading platforms like Hyperliquid, Binance, Deribit, and dYdX.<\/p>\n<p>Earlier, Coinbase agreed to acquire <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-strikes-2-9-billion-deal-to-acquire-deribit\">Deribit for $2.9 billion<\/a>, according to WSJ.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The team behind the DeFi platform for synthetic assets, Synthetix, has proposed the acquisition of a former ecosystem project\u2014the decentralized options protocol Derive (formerly Lyra). As part of our full-force drive towards Synthetix v4 on Ethereum mainnet, a new proposal has just dropped: Synthetix to acquire @derivexyz Perps &#038; options Exchange https:\/\/t.co\/wC7jRyCJqR\u2026 Let\u2019s break it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1093,1322],"class_list":["post-23977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-defi","tag-synthetix"],"aioseo_notices":[],"amp_enabled":true,"views":"73","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=23977"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/23976"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=23977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=23977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=23977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}