Derive Governance | DAO Radar

Derive

Derive (formerly Lyra) is a decentralized options protocol on Optimism. DRV stakers earn rewards and participate in governance decisions.

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Snapshot·Derive Snapshot

1 active

closedTreasury

[DIP] Transfer Ownership of Protocol Parameters and Treasury Assets to Derive BVI Subsidiary

Simple Summary Transfer ownership of protocol parameters and treasury assets into Derive Subsidiary (BVI) Ltd (the “BVI Subsidiary”), a subsidiary of Derive Foundation (the “Foundation”). Permit BVI Subsidiary to manage protocol parameters and use the treasury for DAO-approved programs. # Abstract The multi-signature smart contract that manages protocol parameters and holds a variety of treasury assets at the direction of the DAO currently sits outside the purview of the Foundation....

proposal/0x76E6…6D52/Feb 6

closedTreasury

[Fixed] DIP: Strategic Mint for Institutional Expansion

Abstract This proposal authorizes the mint of 500 million DRV tokens (a 50% increase from the current 1B supply - or 33% dilution to existing DRV holders). We estimate that this will lead to, at most, dilution of 8.25% per year for 4 years. These tokens will be allocated to the Derive Foundation (to be renamed from the Lyra Foundation) to fund institutional partnerships, market maker incentives, integrations, and development resources. This allocation will position Derive to become a...

proposal/0x9Ba8…796C/Sep 23

closedTreasury

[DIP] Derive DAO increase revenue allocation for weekly buybacks

Simple Summary This proposal seeks to increase the weekly revenue allocation for $DRV token buybacks from 25% to 80%. # Abstract The objective of this proposal is to authorize the buyback and accumulation of $DRV tokens from the open market. This initiative aims to establish a fair market price for $DRV tokens and safeguard the Derive protocol against potential hostile takeovers exploiting undervaluation. Reference: [DIP] DRV Token Launch and Functionality (25% of protocol revenue will be...

proposal/0x1A21…dF89/May 15

closedTreasury

[DIP] Derive DAO Treasury DeFi Token Reallocation for Enhanced $DRV Buybacks

Simple Summary This proposal seeks to swap DeFi tokens held in the Derive DAO treasury for USDC and allocate the proceeds to increase weekly $DRV token buybacks. Additionally, it includes the return to Derive DAO treasury of legacy unclaimed rewards from Lyra on Optimism and Arbitrum. # Abstract This proposal aims to sell DeFi tokens held in the Derive DAO treasury and convert them into USDC. The resulting USDC will be used to augment the weekly $DRV buybacks, which have been conducted...

proposal/0x1A21…dF89/May 2

closedGrants

Establish and confirm Grants Distribution through Derive Governance

Simple Summary Establish and confirm grants distribution through Derive Governance Abstract This is a formal proposal to establish and confirm Derive Grants through Derive Governance. Derive was awarded a large sum of $OP tokens to reward community contributions and builders. Specification This proposal sets in stone a governance mechanism that gives authority to the Derive Core team for decision-making on liquidity incentives, Builder Grants, and Protocol incentives until such...

proposal/0xF68D…6454/Apr 16

closedTreasury

[DIP] Renew Lyra Foundation Funding

Simple Summary Grant 60,000,000 DRV to the Lyra Foundation in order to continue supporting the growth of the Derive Ecosystem. Abstract Grant 60,000,000 DRV to the Lyra Foundation in order to continue promoting the Derive Ecosystem. Specification We propose that of the 60,000,000 DRV be granted to the Foundation with the following conditions: - 10,000,000 with a 3 month cliff - 50,000,000 is locked with 1 year cliff + 1 year linear vest Note that we do not anticipate any immediate...

proposal/0x7f82…59E9/Mar 3

closedTreasury

Permit Early Licensing of Lyra v2-core for New Options Protocol on Hyperliquid

Summary Hyperdelta is an in-development option platform in the Hyperliquid ecosystem. Hyperdelta proposes to adapt Derive’s mature smart contract infrastructural foundation as a base for its protocol. It would require a licensing agreement to cover the next 9 months while the v2-core repository is still licensed under a BUSL. To make it worthwhile for the Derive community, Hyperdelta would commit to a 6% token allocation aidropped to stDRV holders once the token launches. This would...

proposal/0x8Ca2…8B89/Feb 16

closedTreasury

[DIP] Grant the Lyra Foundation further funding

Simple Summary Grant the Lyra Foundation a further 300,000 USDC to fund ongoing operations. # Abstract The Lyra Foundation was established after a June 2023 LRFC passed, with its stated mandate to help bootstrap the v2 launch and support the Protocol’s decentralized growth. Since then, the Foundation has helped...

proposal/0x9Ba8…796C/Nov 1

closedElections/Delegation

[DIP] DRV Pre-staking token bonus

Simple Summary Reduce the parameter for the pre-staking bonus from the previous DIP, and modify the language for ease of implementaiton. # Motivation The DRV Token Launch and Functionality DIP mentioned a pre-staking bonus of 5% for those that elect to pre-stake before the TGE. This value is too high given the amount of tokens being grandfathered in. The cost to the DAO could potentially be up to 30M DRV. #...

proposal/0x9Ba8…796C/Oct 6

closedProtocol Upgrade

[DIP] DRV Token Launch and Functionality

Simple Summary Outline the functionality of DRV - the token for Derive, a composable ecosystem of derivatives. This DIP is also the first formal mention of the new brand, with the following migrations in terminology: - Lyra → Derive - LEAP → DIP (Derive Improvement Proposal) - LDX → DRV - stkLyra → stDRV # Abstract This proposal outlines the tokenomics strategy for the Derive network, focusing on the migration and claiming process, staking mechanisms, governance and liquidity/trading...

proposal/0x76E6…6D52/Sep 24

closedTreasury