Derivatives protocol Derive launches new token DRV to enhance governance and incentives in the derivatives ecosystem

Derive launches a new token, DRV, to support its derivatives ecosystem. DRV will be launched on the Ethereum mainnet and will be mostly bridged to Derive L2 for users to claim. Users need to stake DRV into stDRV to participate in governance. The staked stDRV is non-transferable and has a 28-day unlock period, or they can choose to unlock immediately but bear a 20% loss. The governance system will be implemented on the Derive chain, including proposals, delegation, and voting. The DAO will allocate up to 1.15 million DRV per week for staking rewards, which will be halved after 6 months and eventually distributed in full through buybacks. In addition, 2.5 million DRV will be used for incentive protocols. Users can choose to pre-stake DRV during the migration process to receive a one-time 5% reward.