Derive DRV

Commentary versus actual token vesting

Derive launched as Lyra Finance in 2021 and has since restructured its token three times: 1) Lyra, 2021 to 2024 The original 1,000,000,000 LYRA split across nine buckets heavily skewed toward liquidity mining incentives and early ecosystem contributors. 2) Migration, January 2025 Following the protocol’s architecture pivot from a traditional AMM model to an order-book-based L2 (Derive Chain on the OP Stack), the DAO authorized a rebrand. In January 2025, the new $DRV token officially went live, allowing LYRA and stkLYRA holders to migrate 1:1 into $DRV. 3) Supply Expansion to 1.5B Cap To support L2 migration bonuses, ecosystem grants, and new staking models, the hard cap was recalibrated to 1,500,000,000 DRV. Of the new tokens, 260,000,000, 17.3 per cent of the enlarged supply, goes to continuing and future contributors on a six-month cliff and four-year vest, subject to market-capitalisation and liquidity.