PANews reported on May 14 that according to the official blog, the community of the synthetic asset protocol Synthetix proposed to acquire the decentralized options platform Derive at a valuation of US$27 million. According to the SIP-415 proposal, the transaction will exchange DRV and SNX tokens at a ratio of 27:1, and Synthetix will issue 29.3 million SNX tokens (3 months of lock-up + 9 months of linear release) to complete the acquisition. The transaction is subject to approval by the Spartan Council of Synthetix and the governance body of Derive. The acquisition will enable Synthetix to integrate Derive's order book perpetual contract trading technology and development team, and accelerate the construction of the Ethereum mainnet derivatives protocol. The Derive team's experience in modular order book design and option mechanisms will directly enhance Synthetix's core competitiveness. Its developed App-chain technology stack can be deployed to the mainnet immediately. Derive was formerly known as Lyra and was once a Synthetix ecological project. This acquisition is the third ecological integration action of Synthetix in the past six months after the recovery of Kwenta and TLX. Founder Kain Warwick said this will simplify the protocol architecture and governance and promote the development of derivatives platforms. If the transaction is approved, Derive's treasury assets, intellectual property rights and governance systems will all be incorporated into the Synthetix protocol.