Another billion-dollar week. $1.07B notional traded on Derive. Options leading the way 🚀

Hyperliquid → Derive in under 30 seconds. How it works: - Open Deposit on Derive and pick HyperEVM as the source - Select USDC and choose the subaccount you want to fund - Enter the amount and confirm The USDC is routed from HyperEVM to Ethereum and lands in your Derive account.

V3 is live, and the first builders are already emerging. Vaults and RWAs launch soon to fuel the fire. Options are here to stay and they'll take many forms; yield generation, hedging and chasing outsized returns. They'll be traded through institutional retail-friendly interfaces alike, integrated into wallets and incorporated into structured yield products offered by Neobanks. The pie is growing, and there's room to build something big.

kHYPE makes its Ethereum debut with Derive V3. We've worked with @Kinetiq_xyz to bring kHYPE to Ethereum via Chainlink CCIP. Holders will continue earning HYPE staking rewards while using kHYPE as collateral to trade options and perps on Derive. This opens up a new source of utility for staked HYPE, connecting Hyperliquid's growing ecosystem with Ethereum's derivatives markets. The more places kHYPE can be put to work, the stronger the incentive to stake HYPE. With V3's Ethereum-native custody and ZK-verified settlement, we expect to see more of this across DeFi: yield-bearing assets from one ecosystem becoming productive collateral in another, without sacrificing their underlying yield.

Idle USDC in your Derive account earns yield by default. Dynamic supply rate, currently 3.31%.

Pleased to share that we have turned on auto-quote for all RFQ alt coin options on @DeriveXYZ - you should now see a significant improvement in pricing going forward on $PUMP, $LIT, $ZEC, $XRP, $HYPE and $SOL options. As always feel free to DM me for options on any other name.

De volta no aeroporto de Singapura. Próximo destino 👉🏻 Bali - Indonésia 🇮🇩 Sim, bora!

A closer look at our thinking behind V3. Our CTO @josh_pwrk sat down with @Nomaticcap to talk through how we got here, why we chose Ethereum and ZK, and where we think onchain finance is headed. We've spent five years building onchain options and learning from the traders who use them. Josh shares the lessons behind V3 and why we want to make it easier for others to build alongside us. Watch the full conversation below.

Migration complete. Derive is running on its new V3 architecture. Market makers and traders are reconnecting as liquidity builds back up. Withdrawals for some assets may take up to a week to resume. We'll share more about V3 in the coming days, including a closer look at the new architecture and what’s next for users and builders.

Exciting weekend flows: $450M+ notional in 24 hours. 92.4% of all onchain options premium volume. Open interest back above $4.58B. Cumulative volume crossed $40B all time. 🏆 V3 is coming, migration 6 OCT📝

$4.94B notional traded in September. Our biggest month to date. Up 645% from September last year. 🚀

Voting is now open on Snapshot for the proposal to increase the allocation of protocol revenue to DRV buybacks from 35% to 50%. Review the proposal and cast your vote: snapshot.box/#/s:derivexyz.e…

Option boards for $LIT are up. First few trades are printing. 🔥

First big $LIT options trades are hitting the tape. LIT 27 Nov $6 Call 250,000x bought @ $0.4220 $105.5k premium, ~$986k notional Breakeven: $6.42 (+63% from spot) If LIT does a 2x to $7.88 by expiry, the position is worth $470k. That's +$364.5k profit, a ~4.5x on the premium.

September at Derive: ➤ Leadership. @APvanvoorhees joined as Chief Legal and Compliance Officer, bringing 20+ years in capital markets and derivatives law. ➤ Record month. $1.7B in a week, $4.8B for September. ➤ New markets. LIT, PUMP and VVV markets went live, with liquidity ramping ahead of V3. ➤ Governance. Proposals went live for the V3 launch and increasing the share of protocol revenue allocated to $DRV buybacks from 35% to 50%. ➤ fomo. Derive joined @fomo, giving users another way to follow our updates. ➤ Bitvavo listing. $DRV went live for eligible users in supported regions. Next: Derive V3.

Token2049 week is almost here. Find us around Marina Bay. DMs open for coffee, meetings or options talk.