Derive co-founder Nick Forster has proposed expanding the supply of on-chain options exchange native token DRVs to retain core contributors and close deals with institutional partners. The proposal was released on Friday, September 12.
According to the proposal, Forster proposes to issue 500 million additional DRV tokens, increasing the total supply by 50%, which will be distributed to the Derive Foundation (which will be renamed by the original Lyra Foundation to echo the old name of the agreement). The proposal estimates that existing holders will be diluted by up to 8.25% per year over the next four years.
"Forster wrote in the proposal: 'Neither the Foundation nor the BVI subsidiary has sufficient token budgets to execute strategic transactions to achieve alignment of interest at the scale required to drive protocol adoption.'"
In addition, the proposal also revealed that Derive had cut ties with team members and investors who supported the merger with Synthetix. The merger plan was finally called off in May after Derive investors criticized it for underestimating the value of the on-chain options platform.
Derive co-founder proposes to increase DRV token supply by 50%
2025-09-13 18:02:08
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