What is Derive?

Derive is a decentralized protocol that facilitates programmable on-chain options, perpetuals, and structured products. It operates on Derive Chain, an Ethereum rollup utilizing the OP stack, and functions as a permissionless smart contract platform.

The governance model is based on DRV token holders, who oversee the Derive DAO, which earns trading and gas fees. These trading fees contribute to an insurance fund designed to enhance the protocol's robustness. Additionally, Derive has developed an AI-powered trading application aimed at professional traders, allowing for the execution of trades across various products including spot, perpetuals, and options.