On-chain options protocol Derive has officially launched V3, completing its migration and resuming trading. The upgraded platform custodies assets on Ethereum while utilizing zero-knowledge proofs for margin and settlement, enabling sub-millisecond order matching. This release follows a community-approved proposal to migrate V2 positions and shut down the standalone Derive Chain. V3 introduces no-code vault creation and enhanced risk hedging tools for ETH and BTC to improve capital efficiency. The protocol now supports deposits and borrowing across four assets: ETH, WBTC, HYPE, and USDC.