Derive co-founder Nick Forster has proposed a significant increase in the supply of DRV, the native token of the on-chain options exchange, to support core contributors and secure institutional partnerships. The proposal involves minting 500 million new DRV tokens, boosting the total supply by 50%. These tokens are intended for distribution to the Derive Foundation, which will be renamed the Lyra Foundation.
Forster indicated that this move could dilute existing token holders' equity by up to 8.25% annually over the next four years. The proposal is part of a broader strategy to enhance the ecosystem's liquidity and product offerings, with Derive reportedly entering a key partnership to provide institutional-grade liquidity and custody services. The foundation is also in advanced discussions with major liquidity providers to further deepen market liquidity and expand product lines.
Derive Proposes 50% Increase in DRV Token Supply Amid Institutional Partnership Plans
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.