Derive vs Pons

Derive V3 Options is the options market of Derive V3, the latest version of the self-custodial derivatives exchange formerly known as Lyra. V3 runs on a zkVM exchange that settles trades on Ethereum: orders are matched on a central limit order book while positions, margin and settlement stay verifiable on-chain. Traders can buy and sell European options on major crypto assets with portfolio margin shared across options, perpetuals and spot, and market makers quote directly into the book.

pons is a token launch and trading protocol built on Robinhood Chain, allowing anyone to create fixed-supply tokens that begin trading immediately in a locked Uniswap V3 liquidity pool paired with WETH. Unlike bonding curve launchpads, every token trades in the same pool from launch through graduation, with no migration. The protocol features launch protections, creator revenue sharing, protocol-funded PONS buybacks and community takeovers for abandoned projects, while remaining fully non-custodial as all launches and trades are executed directly through users' wallets.