PANews reported on May 22 that according to Cointelegraph, Synthetix announced the termination of the acquisition of Derive at a valuation of US$27 million. The original plan was to exchange 1 SNX for 27 DRV tokens. Due to the Derive community's questioning of the low valuation, unfavorable lock-up period and potential token dilution, the two parties finally decided to withdraw the proposal. Synthetix said it will continue to explore other opportunities to build a decentralized derivatives platform on the Ethereum mainnet.