On-chain options protocol Derive has completed the V3 migration, and trading has resumed

On-chain options protocol Derive announced that Derive V3 has been launched, the migration has been successfully completed, and trading has resumed. The team stated that this rebuild aims to continue the growth of its on-chain options business, with custody located on Ethereum, margin and settlement using zero-knowledge proofs, and order matching latency below 1 millisecond.

According to the announcement, V3 supports the launch of no-code vaults and charges fees, and funds can also be released through ETH and BTC risk offset. Related features also cover yields and lending for ETH, WBTC, HYPE, and USDC, and accelerate the onboarding of crypto assets with real-world assets. Developers can build applications on Derive with less configuration and earn fees.

Derive stated that new markets, vaults, and partner integrations will be launched on this basis in the coming weeks. The project indicated that its on-chain options business has been operating for over 5 years.