Synthetix and Derive have called off their proposed $27 million merger, which aimed to integrate the DeFi platform’s Perps V4 derivatives offering with Derive’s decentralized options platform. The decision follows strong community pushback against concerns regarding the merger’s valuation and potential dilution of Synthetix governance tokens. 🤝 📣 🔒 The cancellation marks a change in trajectory for both entities, who will now pursue independent strategies. The original proposal was valued at $27 million with plans to exchange tokens using SIP-415 and DIP proposals, but the community’s concerns led to the termination of this plan. 🚫 💸 ➡️ 🧠 The move emphasizes the importance of community alignment in DeFi collaborations. This isn’t the first instance of merger tensions in the space; similar high-profile ventures have faced similar challenges with community valuation concerns impacting token dynamics and partnerships. The cancellation has implications for Synthetix, which is now focusing on expanding its ecosystem beyond token dilution.