PANews reported on September 14th that Derive co-founder Nick Forster proposed increasing the supply of DRV, the native token of his on-chain options exchange, to retain core contributors and secure deals with institutional partners. The proposal calls for minting 500 million DRV tokens, increasing the supply by 50%, and distributing these tokens to the Derive Foundation (to be renamed the Lyra Foundation). Forster stated that the proposal estimates that existing holders would see their tokens diluted by up to 8.25% annually over four years.

As part of the proposal, Forster said Derive has “entered into a key partnership that will bring institutional-grade liquidity and custody services to the ecosystem,” adding that the foundation is “in advanced talks with several of the largest liquidity providers and dealers to bring in deeper liquidity and launch new product lines.”