Total Value Locked$134,281
TVL by Chain
Ethereum$88,996
Arbitrum$26,396
OP Mainnet$18,889
Key Metrics
Cumulative Fees$1.8m
Cumulative Fees by chain
OP Mainnet$1.13m
Arbitrum$663,779
Cumulative Options Premium Volume$52.31m
Cumulative Options Notional Volume$1.741b
Staked$0
Total Raised$6.3m
Jul 26, 2021$3.3mRound: SeedInvestors: AllianceDAO, Anthony Sassano, Anton Bukov, Apollo Capital, Divergence Ventures, Framework Ventures, Jinglan Wang, Jordan Momtazi, Kain Warwick, Orthogonal Trading, ParaFi Capital, Robot Ventures, Ryan Sean Adams, Stani Kulechov, Tyler Scott Ward
Nov 30, 2022$3mRound: StrategicInvestors: Framework Ventures, GSR
Protocol Information
The first complete decentralized options protocol built on Ethereum
Audits:
Methodology
TVL: TVL counts the option market locked synth value, along with USDC in safety module.View code on GitHubFees: Fees paid by usersView code on GitHubOptions Premium Volume: Sum of value paid buying and selling options on the exchangeView code on GitHubOptions Notional Volume: Sum of the notional value of all options that have been traded on the exchangeView code on GitHubCompetitors
Derive V1 history
TVL is the default DefiLlama definition, which excludes Staking. Daily values are UTC snapshots from Sep 1, 2021 to Oct 27, 2026.
All-time high TVL: $126.15m on Dec 19, 2021. All-time low TVL: $115,947 on Aug 13, 2026.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $134,465 |
| Sep 29, 2026 | $134,473 |
| Sep 30, 2026 | $134,464 |
| Oct 1, 2026 | $134,439 |
| Oct 2, 2026 | $134,454 |
| Oct 3, 2026 | $134,365 |
| Oct 4, 2026 | $134,370 |
| Oct 5, 2026 | $134,363 |
| Oct 6, 2026 | $134,378 |
| Oct 7, 2026 | $134,369 |
| Oct 8, 2026 | $134,335 |
| Oct 9, 2026 | $134,323 |
| Oct 10, 2026 | $134,340 |
| Oct 11, 2026 | $134,336 |
| Oct 12, 2026 | $134,333 |
| Oct 13, 2026 | $134,350 |
| Oct 14, 2026 | $134,354 |
| Oct 15, 2026 | $134,332 |
| Oct 16, 2026 | $134,320 |
| Oct 17, 2026 | $134,385 |
| Oct 18, 2026 | $134,343 |
| Oct 19, 2026 | $134,347 |
| Oct 20, 2026 | $134,361 |
| Oct 21, 2026 | $134,340 |
| Oct 22, 2026 | $134,333 |
| Oct 23, 2026 | $134,301 |
| Oct 24, 2026 | $134,325 |
| Oct 25, 2026 | $134,313 |
| Oct 26, 2026 | $134,333 |
| Oct 27, 2026 | $134,276 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1.34m |
| Dec 31, 2024 | $1.27m |
| Jan 31, 2025 | $1.25m |
| Feb 28, 2025 | $1.26m |
| Mar 31, 2025 | $1.21m |
| Apr 30, 2025 | $1.13m |
| May 31, 2025 | $1.22m |
| Jun 30, 2025 | $1.2m |
| Jul 31, 2025 | $1.19m |
| Aug 31, 2025 | $1.25m |
| Sep 30, 2025 | $1.28m |
| Oct 31, 2025 | $1.27m |
| Nov 30, 2025 | $1.22m |
| Dec 31, 2025 | $1.11m |
| Jan 31, 2026 | $964,647 |
| Feb 28, 2026 | $1.07m |
| Mar 31, 2026 | $989,404 |
| Apr 30, 2026 | $933,901 |
| May 31, 2026 | $867,946 |
| Jun 30, 2026 | $135,049 |
| Jul 31, 2026 | $134,840 |
| Aug 31, 2026 | $134,466 |
| Sep 30, 2026 | $134,464 |
| Oct 27, 2026 (latest) | $134,276 |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $114.46m |
| Dec 31, 2022 | $12.15m |
| Dec 31, 2023 | $3.4m |
| Dec 31, 2024 | $1.27m |
| Dec 31, 2025 | $1.11m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/derive-v1
Frequently asked questions
What is Derive V1's TVL?
As of Oct 27, 2026, Derive V1 has $134,281 in total value locked. TVL has decreased 0.1% over the past 30 days.
What chains does Derive V1 operate on?
Derive V1 operates on 3 chains: Ethereum, Arbitrum, and OP Mainnet. Ethereum holds the largest share at 66.3%.
How does Derive V1's TVL compare to similar protocols?
Among Options protocols tracked by DefiLlama, Derive V1 ranks #25 by TVL. The category holds $206.21m across 73 protocols, and Derive V1 accounts for 0.1% of that total. Similar protocols include Premia V2, Hegic, SOFA.org, Siren, Pods Finance, Cega V1, Thetanuts Finance, TYMIO, Cega V2, and Opium.