Derive proposes to increase the supply of DRV tokens by 50%

According to ChainCatcher, Derive co-founder Nick Forster proposed to expand the supply of native DRV tokens on its on-chain options exchange to retain core contributors and reach deals with institutional partners, according to TheBlock. The proposal calls for the minting of 500 million DRV tokens, increasing their supply by 50%, and allocating these tokens to the Derive Foundation (which will be renamed the Lyra Foundation). Forster said that according to the proposal's estimates, existing holders' tokens will be diluted up to 8.25% per year in four years. As part of the proposal, Forster said Derive has “committed a significant partnership that will bring institutional-level liquidity and custodial services to the ecosystem”, adding that the foundation “is in-depth negotiations with several of the largest liquidity providers and traders to introduce deeper liquidity and launch new product lines”.