Achieved 9.94% annual return in BTC-denominated terms on the lBTC basis vault in production over one year.

Integrated with OctavFi for portfolio tracking of options, perpetuals, spot, and staking positions.

Governance proposal seeks to reduce DRV staking emissions by 60%.

Governance proposal seeks to reduce unstake period from 28 days to 7 days.

HYPE became the largest non-USDC collateral deposited on the platform.

Ranked 5th by trading volume on Definitive for the week ending April 3, 2026.

Quoted with wider bid-ask spreads than competitor Kyan on March 26, 2026, with ATM call spreads at approximately $2.4 and put spreads exceeding $5.4 for ETH March 28 expiry options.

Surpassed $600 million in weekly options volume, increasing 5x since November 2025 without farming incentives.

Integrated with Ecliptica to provide execution infrastructure for an AI options co-pilot built by Ecliptica.

Remains unaffected by the Resolv incident that occurred on 2026-03-22.

Integrated JitoSOL and native SOL as collateral for options trading.

Featured in RealVision Pro deep dive covering valuation, tokenomics, competitive positioning, architectural differentiation in the onchain options market, and portfolio positioning.

Crossed $1 billion in open interest.

Achieved highest fee month in the last year during March 2026, with two weeks still remaining in the month.

Listed among "good coins" by a trader alongside HYPE, LIT, and XPL in a weekly trading plan focused on price action and altcoin opportunities.

Launched SOL options trading with first trades executed on the platform.

Experienced +61% price increase reaching $160M FDV on March 12, 2026.

Reached $100 million fully diluted valuation (FDV).

Launched in 2021 as Lyra, built for over 5 years, recorded $20B+ volume and $7M+ revenue.

Bought back 642,831 DRV tokens during the week ending March 12, 2026.

Executed its largest trade in history, a BTC options structure exceeding $130 million in notional value.

Private investors have been unlocking tokens for a period of time.

Reached $5 million in annualized protocol fees.

Holds 90% on-chain market share in options markets; processed over $221M notional volume on March 20, 2026.

Has higher open interest than Lighter.

Processed 1,000 BTC notional options trade ($70 million) on March 6th, 2026. Achieved $120 million daily volume on March 9, 2026.

BTC perpetual funding rate reached 256% on the platform.

Executed a trade of 1,564 ETH contracts with over $3 million notional value through its RFQ system.

Achieved approximately $90 million in 24-hour volume on 2026-02-27, marking the second-biggest daily volume of 2026.

Processed 300 BTC across 3 trades on its platform.

Processed 250 BTC across 2 trades representing over $20 million in notional value.

Offers institutional-grade onchain perpetuals and options as an optimistic rollup, featuring portfolio margin that evaluates risk across entire positions using scenario analysis, not isolated positions.

Delisted from growthepie's main chain listings on February 21, 2026, alongside Redstone, Orderly, Blast, and Swellchain.

Reached over $700M notional volume in HYPE options over a 30-day period.

Completed a funding round backed by Variant Fund.

Achieved $45 million in 24-hour trading volume.

Achieved 10% of Deribit's ETH options volume on January 8th, 2026.

Included in Panoptic's DeFi Options Landscape Report (2025) as one of six protocols analyzed for the current state of onchain options markets.

Running an ongoing trading competition

Launched PNL card feature for options trading on March 2, 2026.

Derive launches on HyperEVM and introduces a rewards program for HypurrCo users to trade on the platform.

Large ETH block trades execute on the platform with significant whale activity.

The market-making program opens to the public, allowing anyone to quote RFQs and earn rewards as a market maker.

Hitesh Donga joins as Head of Product, formerly Head of Product at Paradigm with experience building trading systems at Tradeweb, Broadridge, and Paradigm.

Hitesh Donga, former Head of Product at Paradigm, joins as Head of Product with experience building trading systems across fixed income at Tradeweb and Broadridge, and crypto derivatives at Paradigm.

Trade tape goes live on Telegram for tracking options flow across BTC, ETH, and HYPE markets.

Completes 40 weeks of consecutive buybacks with 15M+ tokens repurchased, while governance proposes increasing buyback percentage from 25% to 35% of protocol revenues. Also implements fee cuts for makers/takers, expands infrastructure with Spicenet, and adds HYPE as collateral.

pufETH goes live as collateral for margin trades while earning restaking yield and as a tradable asset in spot markets, with perpetuals and options coming soon.

dcf cap holds 4% of circulating DRV tokens.

ETH Strategy uses Derive for onchain options strategies as part of their treasury operations to generate real yields.

Derive launches $HYPE Options with market maker FalconX Global providing quotes on the RFQ platform.

The platform goes live on HyperEVM.

Rebuilt as a gasless order book exchange on OP Stack L2 in 2023, replacing its original AMM. Operated as Lyra, faces lower brand awareness than Lyra's.

Launches official Chinese WeChat Community with a DRV token reward campaign running until Nov 30th to incentivize community engagement and discussions.

Weekly buyback #40 completes with 486,042 DRV purchased at $0.04 average price, bringing total buybacks to 14,937,647 DRV.

Joint AMA event features Derive Head of Partnerships alongside D2_Finance Co-Founder Luca and Ether.fi Head of Marketing SlaterHeil.

Features over 23 builders creating options trading apps, aligns partners across Asia, and sees competitive liquidity on monthly and quarterly options contracts.

Monthly notional options volume hits $630M+ with $75M+ TVL, and Ethena's yield-bearing stables integration enables yield earning on posted collateral.

Weekly buyback #39 completes with 366,847 DRV purchased at $0.03 average price, bringing total buybacks to 14,451,605 DRV.

Weekly buyback #39 purchases 366,847 DRV at $0.03 (lowest price in timeline), with total buybacks reaching 14.45M DRV, up from 10.60M previously reported.

RFQ response time improves as big orders start coming in, and alt options trading in size launches soon.

Recorded record options volume in February 2026, with notional volume up 17% M/M and trades up 26% M/M.

Platform proposes adding $ZEC options trading, noting the asset's high volume-to-mcap ratio, Bitcoin-like issuance characteristics, Ethereum alignment, lack of current options coverage, and built-in hedging demand from early allocation holders.

Reached over $1.2B in open interest, ranking 3rd among DeFi protocols. Launched zero fees spot trading with 18+ collaterals, integrated as first DEX into Liquid Mercury's RFQ system, and LBTC Basis Vaults yield 20% APY.

Large options trade executed via RFQ: trader sells 640 ETH 5,000 puts expiring June 2026, collecting $990,000 in premiums.

DRV included in list of tokens with active buyback mechanisms.

The platform implements a major perpetual liquidity upgrade, reducing ETH spreads to 1 cent and improving options market pricing.

The platform onboards several new liquidity partners to improve competitive positioning for onchain derivatives trading.

Market overlooks DRV despite strong metrics, as traders show increasing disillusionment with crypto options protocols.

Open interest crosses $500M mark, ranking #6 among protocols in terms of open interest.

LBTC basis trade vault offers 20% APY yield.

The project announces an upcoming addition of a new collateral type, presenting 22 possible assets including BTC, ETH, stablecoins, and various liquid staking tokens.

Derive DAO executes weekly buyback #37, purchasing 322,855 DRV at $0.05, with cumulative buybacks now totaling 13,654,458 DRV.

Community observers note increased shilling activity on Crypto Twitter.

dHEDGE begins hedging treasury risk on Derive platform while maintaining non-custodial control through Safe, with all positions verifiable onchain.

$DRV token rallies 85% from April lows following tier-1 exchange listing, with protocol revenue now annualizing at $1.9M.

New team member joins with stated goal to bring billions in crypto options volume onchain to the platform.

Ex-CMO of Deribit (options protocol sold to Coinbase for billions) becomes a core contributor to the project.

Altcoin options trading to launch soon with community-driven altcoin selection and business development initiatives targeting market participants and power users.

FalconX institutional client access to be added later this year, expanding platform reach and improving liquidity with tighter spreads for on-chain options trading.

$DRV token airdropped to sENA stakers as part of collaboration with Ethena ecosystem.

Platform achieves technical milestone with 256-instrument Portfolio Margin capacity (claimed as first in crypto), expands product offerings with 2DTE and 3DTE options seeing institutional adoption, secures new market maker partnership for tighter spreads, and hires marketing lead from competitor Deribit.

Current market cap sits below 50M while maintaining pricing parity with Deribit's put options, suggesting significant valuation gap given Deribit's billion-dollar acquisition.

Derive successfully defended against a hostile takeover attempt by Synthetix.

Supply increase proposal of 50% announced with team allocation requiring 150M FDV for one month before tokens become transferable.

ESPN raises $1M and generates 66% annualized yield through weekly ETH call options trading, demonstrating real institutional adoption and yield generation on the platform.

Weekly buyback acquires 167,567 DRV at $0.055 (16.7% lower than last week), with 29.6% higher quantity pushing total buybacks to 10.60M DRV.

Weekly buyback acquires 129,331 DRV at $0.066, pushing total buybacks to 10.44M DRV

Digital Asset Treasuries emerge as key ETH price driver, offering staking advantages over ETFs.

Coinbase acquires Deribit for $3B while DCF Capital maintains DRV position, signaling major institutional movement in crypto derivatives trading infrastructure.

Latest buyback purchases 113,300 DRV at $0.087 (28% higher than last week), with total buybacks reaching 10.13M DRV.

API Broker Program goes live offering 50% matching fee share to integrated DeFi builders.

RFQ functionality now live, enabling direct matching between traders with instant firm quotes for specified trade parameters.

Weekly buyback #24 acquires 108,912 DRV at $0.068, pushing total buybacks past 10M DRV milestone.

Options traders concentrate 25% of ETH volume in $4K July calls amid $190M short liquidation event.

Weekly buyback #23 acquires 75,262 DRV at $0.051, with total buybacks reaching 9.91M DRV

Options Open Interest increases 20% with Put-Call Ratio at 0.414, indicating strong bullish sentiment with 2.25x more call options than puts.

20% of BTC options open interest concentrates at $130K calls for September expiry, indicating strong bullish positioning.

Cross-margin functionality and perpetuals integration now live, but spreads remain 2-5x wider than CEX competitors for large positions despite recent infrastructure improvements.

Token price surges 110% in 30 days amid increased market attention.