A Closer Look at Derive V3 and the Promise of Distribution
Derive (DRV)
Derive V1 - Protocol Analytics
Explore Derive V1, a Protocol with $134.3K in total value locked (TVL). Get real-time metrics, charts, and insights. Data from DefiLlama.
About Derive V1
Derive V1, launched as Lyra, was one of the first complete decentralized options protocols on Ethereum, deployed on Optimism and Arbitrum. It priced options with an automated market maker that used a Black-Scholes model and live volatility data, while liquidity providers deposited into market maker vaults that took the other side of trades and hedged their delta exposure on external perpetual markets. Its design was later succeeded by Derive V2's order book exchange.
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Blockchains supporting Derive V1
| Blockchain | Derive V1 TVL | 24h | 7d |
|---|---|---|---|
 ETEthereum | $89,018 | -0.01% | -0.00% |
 ARArbitrum | $26,407 | -0.02% | -0.01% |