$DRV

Michael Spain

• 3 min read
$DRV
$DRV Token Launch Jan 15

TL;DR

  • The DRV token will launch on January 15 2025, at 12:00:00 AM UTC.
  • DRV is Derive’s governance and utility token, with a total supply capped at 1,000,000,000.
  • LYRA holders can migrate DRV 1:1 with no changes to total supply.
  • Staking DRV earns stDRV rewards and enables participation in protocol governance.
  • Our token launch program is live on December 3 2024, at 12:00:00 AM UTC until January 15 2025 at 12:00:00 AM UTC. It’s the last lap.

It’s time.

The Derive token launch will take place on January 15 2025 at 12:00:00 AM UTC. Users can claim their airdrop allocation and migration allocations via the dApp. DRV will launch on Derive Chain and will remain the governance and utility token for Derive. The total supply of DRV is 1,000,000,000, and no new tokens will be minted.

How do I get a larger allocation?

Trade. We're upping everything; 5x trading rewards, 20k OP per week, 50% off perp fees and airdrop bonuses for the last 6 weeks leading up to the token launch.

Wen?

Today. This program runs from December 4 12:00 AM UTC, 2023, to January 15 12:00 AM UTC, 2025.

What’s new?

A lot.

Token Launch Rewards

  • 5x Trading Rewards: Earn 50k points per $1 in fees for the last 6 weeks of the airdrop.
  • 20k OP Per Week: Rewarded pro-rata for fees paid every week.
  • 50% Off Perp Fees: Trade at half the cost.
Token Launch Rewards

Token Launch Bonuses

  • Loyalty Bonus: Allocated to Derive traders who traded $1m volume since May 8. 2.5% of the airdrop.
  • Ethena Bonus: Allocated to the Ethena community that deposit $10k of USDe / sUSDe and trade $1m volume. 2.5% of the airdrop. First 1000 traders only.
  • Hyperliquid Bonus: Allocated to the Hyperliquid community that deposit $10k and trade $1m volume. 2.5% of the airdrop. First 1000 traders only.
  • Ether.Fi Bonus: Allocated to the Ether.Fi community that deposit $10k and trade $1m volume. 2.5% of the airdrop. 4x Ether.Fi points boost. First 1000 traders only.

You can qualify for multiple bonuses if you meet the conditions for each.

Token Launch Bonuses

Additional Bonuses

Additional bonuses will be unveiled in the coming weeks, offering more ways to sprint ahead 🐎 derive.xyz/drv.

Migration Allocation

LYRA holders, including stkLYRA, will receive a 1:1 allocation of DRV tokens based on a snapshot taken before the token launch. Migration details:

  • Snapshot Date: May 8, 12:00:00 AM UTC
  • Users can claim DRV directly on Derive L2.
  • A four-week pre-staking window allows users to stake their DRV for stDRV, earning a 2.5% bonus.

Staked DRV (stDRV) is required for governance participation and unlocks weekly staking rewards. stDRV carries a 28-day unlock period, but users can opt for an instant unlock with a 20% penalty.

How to Claim DRV

  1. Visit the official claiming portal on derive.xyz.
  2. Connect your wallet to check your allocation.
  3. Opt to pre-stake DRV for stDRV to earn the 2.5% bonus or claim DRV directly.

Tokenomics & Governance

DRV’s total supply is capped at 1,000,000,000 tokens. DRV powers governance, staking, and ecosystem rewards, aligning incentives for long-term growth.

Staking Rewards

  • Weekly staking rewards start at 1,150,000 DRV and reduce to 600,000 DRV after six months.
  • Over time, emissions will shift to a 25% protocol revenue buyback model for sustainability.

Governance

Governance will operate exclusively on Derive’s Layer 2 network. Only stDRV holders can:

  • Vote on proposals.
  • Delegate voting power (partial or full).
  • Submit new proposals.

For a complete breakdown, read the DIP: DRV Token Launch and Functionality.

The token launch program is now live, join the race at 🐎 derive.xyz/drv.