Ethena collaborates with their on-chain options platform, Derive, after securing 5% of the DRV token total supply.
In a groundbreaking move, Ethena and Derive.xyz have announced a partnership that is set to redefine the landscape of Decentralized Finance (DeFi). According to Nick Forster, Founder of Derive.xyz, this collaboration will set new standards in the DeFi sector.
Ethena will integrate Derive's on-chain derivatives platform, opening up a world of opportunities for its users. This integration will allow USDe stakers to leverage Derive's trading strategies, providing an avenue for additional yield.
The partnership involves a multi-million dollar grant from Ethena to Derive, positioning Derive as the premier on-chain derivatives platform. The Derive platform will offer groundbreaking on-chain derivatives, liquidity, and financial products, catering to both retail and institutional traders with innovative solutions.
Nick Forster predicts that this partnership will offer innovative solutions for both retail and institutional traders, introducing new liquidity and financial products in DeFi. The partnership is expected to introduce a new era of DeFi offerings, positioning Derive as a leader in the on-chain derivatives space.
In a strategic move, Ethena will receive 5% of Derive's native token DRV in exchange for the investment. 5% of the received DRV tokens will be distributed to sENA stakers, providing an incentive for Ethena users to participate in the Derive ecosystem.
The partnership aims to boost trading volume and liquidity on Derive, with Ethena planning to begin trading on the Derive platform upon approval from the Ethena risk control. This strategy is expected to introduce the next generation of on-chain derivatives, ushering in a new era for DeFi.
As always, for the most accurate and up-to-date information, we recommend consulting official announcements from Ethena or Derive, such as their websites, press releases, or verified social media channels.
The partnership between Ethena and Derive.xyz will allow Ethena users to leverage Derive's trading strategies through the integration of Derive's on-chain derivatives platform, potentially offering new liquidity and financial products (news). This move is expected to position Derive as a leader in the on-chain derivatives space (onchain technology).
