Synthetix makes $27M bid to re-acquire crypto options platform Derive 💼
Decentralized finance platform Synthetix is making moves to re-acquire the crypto options platform Derive in a significant token exchange deal. Valued at around $27 million, the acquisition of Derive exemplifies Synthetix's goal to strengthen its position in the crypto derivatives market.
The proposal, SIP-415, requires approval from both the Synthetix and Derive communities. If successful, this integration will combine Derive’s expertise with Synthetix’s diverse derivatives infrastructure, marking a strategic ecosystem consolidation.
The acquisition is part of a broader strategy, including previous acquisitions of Kwenta and TLX, emphasizing vertical reintegration. This represents a reinforcement of direct protocol ownership of related crypto derivatives services.
Synthetix will issue up to 29.3 million SNX tokens to facilitate the acquisition, with a specific lock-up and vesting period. The price of SNX has shown some volatility but remains a focal point in this acquisition.
Overall, this move highlights Synthetix’s aim to rival other major crypto derivatives platforms, further strengthening its industry position.
Artikel serupa
Synthetix Considers Purchase of Options Platform Derive in $27M Token-Swap Deal
Synthetix Bids $27M to Reacquire Derive Options
Synthetix wants to acquire Derive through a $27m token swap
Synthetix acquires Derive with a $27 million token swap
Acquisitions Continue in the Cryptocurrency Market! Decentralized Derivatives Protocol Synthetix Makes a Major Acquisition! Here Are the Details
Synthetix Proposes $27 Million Acquisition of Derive to Enhance Protocol Capabilities with SNX and DRV Token Exchange
Synthetix Eyes $27 Million Acquisition of Derive, Subject to Community Approval
