Synthetix Considers Purchase of Options Platform Derive in $27M Token-Swap Deal

Ethereum-based derivatives powerhouse Synthetix is considering buying options trading platform Derive in an token-for-token deal valued at $27 million that would see the project absorbed back into the protocol that gave it birth.The proposal, SIP-415 on Synthetix and DIP on Derive, needs to be approved by both communities and would see Derive’s treasury, codebase and operational stack incorporated into Synthetix. The deal marks a rare instance of a token swap-based acquisition in decentralized finance (DeFi), and is being pitched as part of Synthetix's growing ecosystem. Derive (DRV) token holders would receive 27 newly issued SNX tokens for each DRV they own source: https://www.coindesk.com/business/2025/05/14/synthetix-considers-purchase-of-options-platform-derive-in-27m-token-swap-deal