The Ethena Foundation provides millions of dollars in grants to Derive, and sENA holders will receive 5% of DRV

ChainCatcher news, the options protocol Derive (formerly known as Lyra) announced a partnership with Ethena, officially joining the Ethena Network. As part of the collaboration, the Ethena Foundation provided Derive with a multi-million dollar grant, while sENA token holders will be eligible to receive 5% of the DRV token supply from Derive DAO.

It is reported that Derive currently holds over 75% of the on-chain options market share, with a weekly trading volume of approximately $250 million and a total locked value exceeding $80 million, serving over 50,000 users.