Lyra v2 / Derive protocol
Overview
Derive is the protocol formerly known as Lyra, an options protocol founded in 2021 that rebranded in early 2025 as it expanded beyond options. It is a decentralised settlement layer for spot, perpetual futures and options trading, running on Derive Chain, its own OP Stack rollup that settles to Ethereum, with portfolio and cross-margining across multi-asset collateral. Its DRV token launched in January 2025, with existing LYRA supply migrated 1:1 and a portion of new supply airdropped to users; DRV governs the Derive DAO, which receives trading and gas fees.
Relations
No connections recorded for this entity in the DeFi Intel knowledge graph yet.
Frequently asked questions
What is Lyra v2 / Derive?
Lyra v2 / Derive is a protocol tracked in the DeFi Intel knowledge graph.
What type of entity is Lyra v2 / Derive?
Lyra v2 / Derive is classified as a protocol (protocol) in the DeFi Intel knowledge graph.
Live news feed, full graph, and search.