Derive, formerly known as Lyra Finance, has introduced perpetual futures contracts for its native DRV token and the F token, which tracks Ford Motor Company stock. Both new listings offer traders a maximum leverage of 5x.
The update follows the platform's V3 migration, announced on September 14, which aims to improve system throughput and functionality. Derive currently supports up to 15x leverage for other assets on its platform.
The DRV token, launched in January 2025, has a maximum supply of 1.5 billion. The protocol uses 35% of its generated fees for weekly token buybacks. Users can stake DRV to access trading fee discounts.
The platform recently expanded its collateral options by adding support for FXRP. Derive, which originated in 2021, maintains a significant market share in onchain options trading and has processed billions in cumulative notional volume.
