Today, Derive integrates into . A multi-million dollar partnership to bring basis trading to Derive and unlock $4.5b of TVL and 300,000 users.

Integrating with Ethena provides access to one of the most vibrant and powerful ecosystems in DeFi. This partnership strengthens Derive as the top onchain options, perpetual futures, and structured products protocol, while unlocking massive liquidity and distribution.

Key partnership details: 🟠 Ethena protocol integrates Derive’s basis trading, options, futures, and vaults. 🟠 The Lyra Foundation (responsible for stewarding the Derive protocol) receives a grant from the Ethena Foundation 🟠 sENA stakers will receive 5% of DRV tokens that were granted to the Ethena Foundation 🟠 USDe as collateral boosts capital efficiency, letting users trade while earning yield.

With 75% market share in onchain BTC and ETH options, Derive is set to: 🟠 Pioneer the first $ENA options market, expanding opportunities for Ethena’s ecosystem. 🟠 Introduce structured products powered by sUSDe yields, unlocking innovative yield strategies and benefits for both communities.

This is a powerful collaboration between one of the fastest growing and innovative protocols in DeFi being Ethena, with the most flexible and robust derivatives architecture at Derive. Together, we’re creating a new standard for decentralized finance, delivering unmatched liquidity, efficiency, and groundbreaking financial products for users across both ecosystems.

Read a full breakdown in this blog:

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