According to Cointelegraph, decentralized financial platform Synthetix has cancelled its planned acquisition of crypto options platform Derive worth $27 million due to negative feedback from the community. Derive community members have expressed concerns about the token exchange ratio and the overall benefits of the acquisition on the platform.
The acquisition plan originally planned to exchange SNX and DRV tokens at a ratio of 1:27.
Synthetix terminates $27 million acquisition of Derive due to community opposition
2025-05-22 04:41:17
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