The Derive community has released a new DIP proposal calling for the deployment of Derive V3, migration of all V2 positions and balances to the V3 genesis state, transfer of cross-chain bridge funds to Ethereum L1, and the gradual shutdown of the Derive Chain. Derive V3 is described as a zero-knowledge exchange based on a zkVM that settles on Ethereum mainnet. It would execute margin, pricing, and settlement computations off-chain, use ZK proofs for verification, and publish state differences to Celestia for data availability, while Ethereum L1 verifies the proofs.