Derivatives protocol Derive has released a new Token DRV, aiming to enhance the governance and incentives of the Derivatives ecosystem

Odaily Planet Daily News Derive launches a new Token DRV to support its Derivatives ecosystem. DRV will be launched on the ETH mainnet and mostly bridged to Derive L2 for users to claim. Users need to stake DRV as stDRV for governance, and staked stDRV is non-transferable, with a 28-day unlocking period. Alternatively, users can choose to unlock immediately but will incur a 20% loss. The governance system will be implemented on-chain in Derive, including proposals, delegation, and voting. The DAO will allocate up to 1.15 million DRV per week for stake rewards, which will be halved after 6 months and eventually distributed entirely through buyback. Additionally, there will be 2.5 million DRV allocated for incentivizing protocol usage. Users can choose to pre-stake DRV during the migration process to receive a one-time 5% bonus.