{"id":52391,"date":"2025-05-14T08:05:04","date_gmt":"2025-05-14T08:05:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/community-vote-will-decide-derive-return-to-synthetix\/"},"modified":"2025-05-14T08:05:04","modified_gmt":"2025-05-14T08:05:04","slug":"community-vote-will-decide-derive-return-to-synthetix","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/community-vote-will-decide-derive-return-to-synthetix\/","title":{"rendered":"Community Vote Will Decide Derive Return to Synthetix"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Synthetix is preparing to bring Derive back into its fold, in a move that could strengthen its position in the crypto derivatives space. The decentralized finance platform announced plans for a token-based acquisition that would reunite it with Derive\u2014originally launched as Lyra\u2014after years of operating independently.<\/p>\n<hr\/>\n<p><em><strong>Good to know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>The deal values Derive at around $27 million.<\/strong><\/em><\/li>\n<li><em><strong>Vote on SIP-415 will decide if the merger goes forward.<\/strong><\/em><\/li>\n<li><em><strong>Derive began as Lyra, a spinout from Synthetix in 2021.<\/strong><\/em><\/li>\n<\/ul>\n<hr\/>\n<p>The proposed acquisition, shared in a May 14 blog post, would see Derive absorbed in exchange for Synthetix\u2019s native token SNX. The terms value each SNX token at 27 DRV tokens. Synthetix said the transaction still needs approval from both communities, with voting set to take place under proposal SIP-415.<\/p>\n<p>If passed, the deal would combine Derive\u2019s front-end and real-world asset expertise with Synthetix\u2019s on-chain derivatives infrastructure. Derive specializes in crypto options, while Synthetix has focused heavily on perpetual futures and decentralized synthetic assets.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 111% + 111 Free Spins!<\/strong> <\/p>\n<p>New players only. Exclusive 111% Welcome Bonus + 111 Free Spins<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2>Returning to roots<\/h2>\n<p>Derive originally launched in 2021 under the name Lyra as a spinoff from the Synthetix ecosystem. Now, the potential return reflects a larger strategy to consolidate core projects. Synthetix has already brought Kwenta and TLX back under its umbrella, and the team sees Derive as a natural next step.<\/p>\n<p>Synthetix founder Kain Warwick shared his thoughts on the move:<em> \u201cReuniting under one banner simplifies our architecture and governance and unlocks the next phase. This is the kids going out to build their own successful startups, and coming back to join the family business.\u201d<\/em><\/p>\n<p>The sentiment was echoed in a post on X, where Synthetix said,<em> \u201cThis re-acquisition marks the next chapter of vertical reintegration with direct protocol ownership of perps, options, and app chains: all of which already have SNX in their DNA.\u201d<\/em><\/p>\n<p>Synthetix also highlighted the platforms it is looking to compete with more directly. Hyperliquid, Binance, dYdX, and Deribit\u2014soon to be owned by Coinbase\u2014were all named as rivals in the crypto derivatives space.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/synthetix-plans-to-reunite-with-derive-in-27-million-token-deal\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Synthetix is preparing to bring Derive back into its fold, in a move that could strengthen its position in the crypto derivatives space. The decentralized finance platform announced plans for a token-based acquisition that would reunite it with Derive\u2014originally launched as Lyra\u2014after years of operating independently. [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":52392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/52391"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=52391"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/52391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/52392"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=52391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=52391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=52391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}