Derive vs Pump

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.

PumpSwap is the native decentralized exchange of pump.fun on Solana. When a token launched on pump.fun completes its bonding curve, its liquidity migrates directly to PumpSwap instead of a third-party DEX, letting trading continue without migration fees. PumpSwap uses a constant-product AMM and shares part of the trading fees with token creators, which rewards those who launch active tokens. It has become one of the largest DEXs on Solana by volume, driven by memecoin trading, and is part of the PUMP token ecosystem.