Derive co-founder proposes to increase DRV token supply by 50%, with existing holders' equity expected to be diluted by 33%
Foresight News reported, according to The Block, that Nick Forster, co-founder of Derive, has proposed expanding the supply of the native DRV token of its on-chain options exchange in order to retain core contributors and secure deals with institutional partners. The proposal calls for minting 500 million DRV tokens, increasing its supply by 50%, and allocating these tokens to the Derive Foundation (which will be renamed the Lyra Foundation). Forster stated that, according to the proposal's estimates, existing holders' tokens would be diluted by a maximum of 8.25% per year over four years. As part of the proposal, Forster mentioned that Derive has "secured a significant partnership that will bring institutional-grade liquidity and custody services to the ecosystem," adding that the foundation "is in advanced negotiations with several of the largest liquidity providers and traders to introduce deeper liquidity and launch new product lines."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Yala suspends Convert and Bridge functions for system upgrade
Yala: Hacker attack attempted but failed, user funds are safe
Mova ecosystem DEX USD1Swap launches "Genesis Eagle Plan" to explore new paths for DeFi and RWA integration
Trending news
MoreCrypto prices
More








