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Derive
Derive's company profile covering information about verified team members and major milestones.
Company Info
Derive is a decentralized crypto derivatives exchange focused on on-chain options trading, perpetual futures, and spot markets. Formerly known as Lyra, the platform is designed for professional crypto traders looking for institutional-grade execution combined with self-custody and DeFi transparency. Built on Ethereum infrastructure and powered by the OP Stack, Derive delivers high-speed crypto trading with advanced portfolio margin systems, cross-margin capabilities, and multi-asset collateral support. Traders can use BTC options, ETH options, crypto perpetuals, yield strategies, and risk management tools while still keeping control of their own assets.
Key Features of Derive
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- Uses portfolio margining to improve capital efficiency across positions.
- Supports crypto options trading for BTC, ETH, and altcoins with advanced trading strategies.
- Includes an RFQ system for large block trades and complex trading strategies.
- Built on an Ethereum Layer 2 network using OP Stack for lower fees and faster transactions.
- Uses audited smart contracts and transparent risk management systems.
- Uses portfolio margining to improve capital efficiency across positions.
Derive Milestones
| Year | Key Achievements |
| 2021 |
Founded as Lyra Finance. |
| Raised $3.3M in a seed round led by Framework Ventures and ParaFi Capital. | |
| Launched on the Optimism mainnet as the first major options AMM. | |
| 2022 |
Raised an additional $3M to support scaling and growth. |
| Introduced the “Avalon” upgrade. | |
| 2023 |
Announced and launched the “Lyra Chain.” |
| Moved from a general Layer 2 network to a dedicated chain built for high-throughput trading. | |
| 2024 |
Lyra officially rebranded to Derive in August 2024. |
| Expanded from options trading into a full derivatives suite. | |
| Partnered with Ethena for yield and collateral integration through $USDe. | |
| 2025 | Launched the $DRV token in January 2025. |
| Migrated from the original $LYRA token. | |
| Added RFQ (Request-for-Quote) support for institutional-sized block trades. |
FAQs
Company Details
Launch Date
Jan-2021
Company Size
Small (11-50)
Total Employees
- + 7
Nick Forster, Michael Spain, Jake Fitzgerald and 7 Others
Contact Details
United States Capitol, Washington, District of Columbia 20004, United States
Social Media
Primary Category
Board Members and Advisors
Dominic Romano...
Co-founder
Hitesh Donga
Head of Product
Josh Kim
Head of Engineering
Dillon Lin
Head of Growth
Andras Caron
Head of marketing
Ian Randle
Head of Operations
Sean Dawson
Head of Research
All Members
Nick Forster
Co-Founder & CEO
Michael Spain
Co-founder
Jake Fitzgeral...
Co-founder
Result Not Found
The requested search filter did not yield relevant results.
| # | Investor Name | Investor Category | Funding Date | Funding Round | Invested By | Fund Raised |
|---|---|---|---|---|---|---|
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