Synthetix and Derive jointly cancel a $27 million acquisition agreement

ChainCatcher news, according to TheBlock, contributors from Synthetix and Derive have jointly withdrawn a $27 million transaction proposal, under which Synthetix would acquire the decentralized options platform Derive (formerly known as Lyra).

The Derive team stated: After thoughtful discussions and community feedback, the SIP-415 and DIP proposals to merge Synthetix and Derive have been mutually withdrawn.

Previously, Synthetix proposed to acquire the options protocol Derive in exchange for $27 million worth of tokens.