Derive
DRVSelf-custodial on-chain options and perpetuals trading platform
Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.81% | 5.05% | 4.75% | 8.90% | 256.79% | 14.12% |
Revenue & Burn
Protocol income
$317.89KBuyback funds
$163.91KBurn funds
--Buyback ratio
51.6%Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $317.89K | $163.91K | -- | 51.6% |
| Sep 2026 | $515.19K | $199.63K | -- | 38.7% |
| Aug 2026 | $433.87K | $107.76K | -- | 24.8% |
| Jul 2026 | $390.54K | $98.16K | -- | 25.1% |
| Jun 2026 | $495.44K | $136.25K | -- | 27.5% |
| May 2026 | $529.96K | $97.87K | -- | 18.5% |
Comparison
Tokenomics
Unlock Progress
Data source: CoinGecko
DRV is the token of Derive (formerly Lyra Finance), a DeFi derivatives protocol, with LYRA migrated 1:1. Its 1.5 billion supply is governance-adjustable. Staking to stDRV yields weekly rewards and governance votes (28-day unlock), pays Derive Chain gas and bridges to Ethereum and Base; 25% of revenue funds buyback.
Top Holders
| Address | Token | Quantity | Percentage | Value |
|---|---|---|---|---|
| 0xee90...84bc |   DRV | 437,889,447.49 | 29.19% | $166.68M |
| 0xcb9f...7d49 | DRV | 257,636,113.91 | 25.76% | $98.07M |
| 0xd21d...35ca | DRV | 252,961,004.33 | 16.86% | $96.29M |
Follow Updates
Follow Lists
People
About Derive
Derive (formerly Lyra Finance) has evolved through several milestones. In 2024, Lyra rebranded to Derive, transitioning from an AMM-based options protocol to a CLOB-based derivatives platform on its own OP Stack L2. In January 2025, the DRV token launched with a 1:1 migration from LYRA, and the Ethena Foundation provided grants while allocating 5% of DRV supply to sENA stakers. The Derive DAO initiated open-market buybacks of DRV, starting with $205,000. In 2026, Upbit listed DRV in KRW, BTC, and USDT pairs, marking entry into the Korean retail market. Institutional Ethereum reserves surged, with Derive claiming explosive Q4 potential. These events represent structural shifts: protocol architecture, tokenomics, governance, and market expansion.
Derive (formerly Lyra) was co-founded by Nick Forster and Jake Fitzgerald.
Nick Forster is the Co-Founder & CEO. He previously worked as an Equity Options Trader at Susquehanna International Group (SIG) for 3 years, gaining deep expertise in options market making. He holds a Bachelor's degree in Mathematics and Economics from the University of Sydney.
Jake Fitzgerald is the Co-Founder & former Head of Product. He previously served as a Mathematics and Economics Tutor at the University of Sydney and Project Academy. He also completed a Financial Risk Management internship at KPMG. Note: According to LinkedIn, Jake departed Derive in February 2026.