Derive (prev. Lyra) | The Leading Onchain Options Platform w/BTC, ETH & HYPE. Deep liquidity. Seamless onboarding. Lowest fees. Institutional-grade custody.
Onchain
- Tweets 3,442
- Following 40
- Followers 108,273
- Likes 8,884
Pinned Tweet
Voting is now open on Snapshot for the proposal to increase the allocation of protocol revenue to DRV buybacks from 35% to 50%.
Review the proposal and cast your vote: snapshot.box/#/s:derivexyz.e…
A new governance proposal to increase the allocation of protocol revenue to DRV buybacks to 50% is live on the Derive forum.
Community members can review the proposed increase and share their views.
Read the proposal and join the discussion: forums.derive.xyz/t/dip-incr…
16
17
186
37,291
Exciting weekend flows: $450M+ notional in 24 hours.
92.4% of all onchain options premium volume.
Open interest back above $4.58B.
Cumulative volume crossed $40B all time. 🏆
V3 is coming, migration 6 OCT📝
23
20
500
24,273
Massive BTC call condor on Derive. ~$300M notional across four legs.
Trader betting on BTC settling between $87K and $88K on Wednesday.
13
11
117
8,783
$4.94B notional traded in September. Our biggest month to date.
Up 645% from September last year. 🚀
10
14
212
41,932
Derive.xyz retweeted
⚡ Tunder is now open to the public.
Built to make options trading on @DeriveXYZ simple.
Copy positions, draw directly on charts, and more.
3
5
27
1,349
Use RFQ in the order form to compare order book prices with quotes directly from market makers:
- Toggle on RFQ
- Select the option you want to buy
- Click Request a quote
- If you like the price, click Buy to open
If the order book offers a better price, a pop-up will let you know.
derive.xyz
6
12
1,528
We’ve integrated with @otomato_xyz so you can monitor your Derive positions in real time and receive alerts on your phone.
Imagine this: you’re on holiday, Aperol Spritz in hand. Warsh puts rate cuts back on the table, Congress finds another trillion dollars to spend, and BTC jumps 15%.
Your laptop is in the backpack beside you, but you never pull it out because you never got the alert.
With Otomato, you get alerts on your Greeks, risk and upcoming expiries, with a link back to Derive when you need to act. You can try it out at
Otomato.xyz/welcome/derive.
18
8
149
16,113
yea i’ve been deep diving into the Hyperliquid of Options lately && the more i look at @DeriveXYZ V3, the more the architecture makes sense
V2 gave Derive its own chain. that solved a specific problem: sophisticated derivatives require far more computation than you want to push through Ethereum blockspace
but V3 takes the idea one layer deeper. the exchange logic can execute inside a zkVM
matching, risk, margin, state transitions. the heavy computation happens in an environment built for it
then instead of asking Ethereum to reproduce all that computation, Derive can prove that it was executed correctly
Ethereum verifies the proof. that creates a clean separation
execution → Derive’s environment
computation → zkVM
verification → Ethereum
settlement → Ethereum
and that changes the role of the base layer
Ethereum doesn’t need to be the fastest place to run every piece of exchange logic. it needs to be the place where the resulting state can be credibly verified and settled
that’s the architectural bet i find interesting about V3. V2 specialized the chain
V3 proposes to specialize execution itself, while bringing verification and settlement back toward Ethereum
the exchange becomes computationally specialized without making its own chain the final source of settlement
that’s a much bigger shift than simply shipping another version of the exchange
the interesting thing about portfolio margin is that it changes the unit of risk. most basic margin systems look at positions individually
but sophisticated derivatives traders rarely think in isolated positions. take for example you might be long ETH spot, short a call, long a put, and running a perp hedge at the same time
the risk lives in the relationship between those positions. Derive’s Portfolio Margin Risk Manager is designed around that idea
instead of simply asking how much margin each position requires, it stress-tests the portfolio across different spot and implied-volatility scenarios and identifies the maximum modeled loss. that becomes the core of the margin requirement
so a hedge that reduces the portfolio’s actual downside can reduce the capital required to carry it. that being said, a spread whose loss is structurally capped can be margined around that capped risk rather than treating every leg as an independent liability. this is where capital efficiency starts becoming an engineering problem
better risk modelling
→ better netting
→ less idle collateral
→ more deployable capital
→ more complex strategies become viable
and that has a second-order effect
when traders can express more sophisticated strategies without unnecessarily tying up capital, the venue can support a much broader set of financial activity. major reason i keep coming back to Derive’s risk engine
the orderbook determines how trades happen. the risk engine determines how much complexity the market can support
4
10
103
5,235
First big $LIT options trades are hitting the tape.
LIT 27 Nov $6 Call
250,000x bought @ $0.4220
$105.5k premium, ~$986k notional
Breakeven: $6.42 (+63% from spot)
If LIT does a 2x to $7.88 by expiry, the position is worth $470k. That's +$364.5k profit, a ~4.5x on the premium.
21
29
403
74,594
Derive.xyz retweeted
Hey guys, I worked on this options UI last week.
Excited to see the explosion of options interfaces in the next few weeks. Shit is going to get crazy.
All built on Derive.
14
10
106
3,696
September at Derive:
➤ Leadership. @APvanvoorhees joined as Chief Legal and Compliance Officer, bringing 20+ years in capital markets and derivatives law.
➤ Record month. $1.7B in a week, $4.8B for September.
➤ New markets. LIT, PUMP and VVV markets went live, with liquidity ramping ahead of V3.
➤ Governance. Proposals went live for the V3 launch and increasing the share of protocol revenue allocated to $DRV buybacks from 35% to 50%.
➤ fomo. Derive joined @fomo, giving users another way to follow our updates.
➤ Bitvavo listing. $DRV went live for eligible users in supported regions.
Next: Derive V3.
18
6
138
64,084
Derive.xyz retweeted
Options can seem complicated.
So in this video, I'm breaking them down through @DeriveXYZ - from calls and puts to actually understanding the UI.
We then put it into practice with:
• @koolkrypto223 's call spread strategy
• How options could hedge positions on @DeFiSaver
Would you use options to hedge your lending positions via DeFi Saver? Let me know
31
49
596
77,244
Weekly Buyback #86 Complete
196,096 DRV was purchased at an average price of $0.40. Derive DAO has bought back a total of 27,978,557 DRV.
Buybacks are allocated 35% of protocol fees.
13
11
141
17,280
Token2049 week is almost here.
Find us around Marina Bay.
DMs open for coffee, meetings or options talk.
14
6
118
6,766
Derive ($DRV) spot trading is now available on Bitvavo, subject to @bitvavocom eligibility requirements and supported regions.
Official listing details: account.bitvavo.com/markets/…
New listing - Derive (DRV) 🚀
You can now find $DRV @DeriveXYZ on Bitvavo.
Explore it here ➡️ account.bitvavo.com/markets/…
12
8
168
24,440
Derive.xyz retweeted
Agent Builders Cup — Awards Night 🏆
Join us Fri, Oct 9 · 5–7pm (GMT+8) in Singapore as we announce & celebrate the winners.
Big thanks to our team sponsors:
@bitget @Gate @MeteoraAG @orca_so @DeriveXYZ XRPL + Botcamp
RSVP 👉 luma.com/j2kjve59
2
12
1,522
Derive.xyz retweeted
Options were hard. Not anymore.
Tap to trade. Follow the legends. Copy any trade. Hedge your wallet positions in one click.
Powered by @DeriveXYZ & @OctavFi
Tacticalls is live on - tacticalls.xyz
8
4
89
7,727