DeFi protocol Ethena has formed a partnership with Derive.xyz, a leading on-chain options and structured products platform. The partnership will involve a significant investment to increase liquidity and drive growth for both protocols. Ethena will integrate Derive's core trading, options, futures, and vaults using Ethena's stablecoin USDe and USDE staking to boost liquidity and trading volume. Ethena plans to launch its core trading on Derive's perpetual markets, pending approval, which is expected to strengthen Derive's ability to execute large orders at stable prices. As part of the partnership, the Lyra Foundation overseeing Derive will receive a multi-million dollar grant from the Ethena Foundation, and staked ENA holders will be rewarded with 5% of DRV tokens. Derive will integrate Ethena's synthetic dollar USDe as collateral, allowing users to earn passive income while trading. Additionally, Derive will introduce vaults for staked USDe holders to combine Ethena staking yields with Derive's structured product strategies.



Other News from Today