Derive Proposes Treasury Funding for U.S. Derivatives Expansion

Derive has proposed using treasury funds for a U.S.-regulated derivatives expansion, adding a U.S. market focus to its broader plan to develop shared options infrastructure for crypto applications.

The funding proposal builds on Derive’s previously proposed replacement of Derive Chain with V3, an Ethereum-settled options exchange intended to provide infrastructure for other crypto applications.

V3 would match orders offchain and use Ethereum Layer 1 to verify proofs related to trading and settlement. Customer assets would stay in Ethereum contracts, while Celestia would receive the protocol’s state data.

Derive’s app remains unavailable to U.S. persons. The migration schedule has not been confirmed.