Synthetix to Re-acquire Derive in Token Exchange Deal Worth $27M

DeFi platform Synthetix has announced plans to re-acquire the crypto options platform Derive. The deal, valued at approximately $27 million, will be conducted through a token exchange, with 1 SNX token equating to 27 DRV tokens. This acquisition will be subject to approval from both the Synthetix and Derive communities, who will vote on the proposal known as SIP-415 next week. The combined expertise of Derive’s front-end and real-world asset (RWA) capabilities with Synthetix’s derivatives infrastructure is anticipated to significantly impact the platform.