Synthetix Considers Purchase of Options Platform Derive in $27M Token-Swap Deal

Quick Summary:

If approved, the uncommon token swap deal would reunite two previously split protocols as Synthetix expands its derivatives suite.

DRV prices are down 20% in the past 24 hours, data on CoinGecko shows, while SNX is up 7%.

The tokens are subject to a three-month lockup and nine-month linear vesting schedule.

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Article Details

Author / Journalist: Shaurya Malwa

Category: Crypto

Markets: United StatesCuba

Topics: News Derivatives DeFi Finance

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-14 @ 08:36:03 (18 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 265 words

Reading Time: 2 minutes read

Sentences: 24 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 28706664

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