“The Synthetix Defi Platform team suggested buying an optional Derive (previously known as Lyra), which was previously part of its ecosystem. As Part of Our Full-Force Drive Towards Synthetix v4 on Ethereum Mainnet, A New Proposal Has Just Droped https://t.co/wc7jrycjqr… Let’s Break It Down (1/6) 🧵 – Synthetix ⚔️ (@synthetix_io) May 14, 2025 […]”, – WRITE: Businessua.com.ua
The Synthetix Defi Platform team suggested buying an optional Derive (previously known as Lyra), which was previously part of its ecosystem.
As part of our Full-Force Drive Towards Synthetix V4 on Ethereum Mainnet, A New Proposal Has Just Droped:
Synthetix to Acquire @Derivexyz Perps & Options Exchange https://t.co/wc7jrycjqr…
Let’s Break It Down (1/6) 🧵
– Synthetix ⚔️ (@synthetix_io) May 14, 2025
According to the proposal Sip-415, the agreement is planned to be implemented through the exchange of DRV tokens on SNX in a ratio of 27: 1. The total cost of the operation is estimated at about $ 27 million.
To finance the purchase of Synthetix will release 29.3 million SNX with a three -month blocking period and subsequent leading for 180 days. The proposal must be approved by the communities of both projects.
The initiative corresponds to the vertical reintegration strategy of the platform aimed at expanding functionality in the Ethereum main network. Earlier Synthetix has already returned to ecosystem Kwenta and Tlx.
“Derive was born from the same DNA. Returning under one wing simplifies architecture and management and opens a new phase. It’s like children who have founded successful startups and are now returning to family business, ”Cayne Vorvik, Synthetix, commented.
The team also noted that Derive technologies will be the basis for launching Synthetix Options Exchange – a cryptodeeder trading platform that will compete with Hyperliquid, Binance, Deribit and Dydx.
Recall that Coinbase has agreed to purchase Deribit for $ 2.9 billion, WSJ reports.
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