Synthetix makes $27M bid to re-acquire crypto options platform Derive

Decentralized finance platform Synthetix is planning to venture further into crypto derivatives with plans to re-acquire the crypto options platform Derive. Synthetix said in a May 14 blog post that it plans to acquire Derive in a token exchange deal, pricing 1 SNX token to 27 DRV tokens, which would value Derive at around $27 million.  The transaction is subject to approval from both the Synthetix and Derive communities, which will take a vote on the proposal, called SIP-415, next week. If approved, the acquisition will combine Derive’s front-end and real-world asset (RWA) expertise with Synthetix’s derivatives infrastructure source: https://cointelegraph.com/news/synthetix-27-million-bid-reacquire-derive?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound