Ask about Derive · freeTotal Value Locked$177.58m
TVL by Chain
Ethereum$177.24m
OP Mainnet$314,129
Arbitrum$26,397
Mode$0
Blast$0
Hyperliquid L1$0
Base$0
Key Metrics
Fees 30d$507,426
Fees 30d by chain
Derive V3$345,848
Derive Chain$161,578
Fees 7d$91,060
Derive V3$91,060
Fees 24h$10,411
Derive V3$10,411
Cumulative Fees$15.65m
Derive Chain$13.51m
OP Mainnet$1.13m
Arbitrum$663,779
Derive V3$345,848
Revenue 30d$417,199
Revenue 30d by chain
Derive V3$292,095
Derive Chain$125,104
Revenue 7d$75,318
Derive V3$75,318
Revenue 24h$8,141
Derive V3$8,141
Cumulative Revenue$6.36m
Derive Chain$6.06m
Derive V3$292,095
Holders Revenue 30d$252,695
Holders Revenue 30d by chain
Derive V3$162,019
Derive Chain$90,676
Holders Revenue 7d$74,370
Derive V3$74,370
Holders Revenue 24h$54,466
Derive V3$54,466
Cumulative Holders Revenue$1.77m
Derive Chain$1.61m
Derive V3$162,019
DEX Volume 30d$2.73m
DEX Volume 30d by chain
Derive Chain$1.63m
Derive V3$1.09m
DEX Volume 7d$182,984
Derive V3$182,984
DEX Volume 24h$68,123
Derive V3$68,123
Cumulative DEX Volume$19.83m
Derive Chain$18.73m
Derive V3$1.09m
Perp Volume 30d$675.66m
Perp Volume 30d by chain
Derive V3$358.91m
Derive Chain$316.75m
Perp Volume 7d$100.64m
Derive V3$100.64m
Perp Volume 24h$14.66m
Derive V3$14.66m
Cumulative Perp Volume$16.076b
Derive Chain$15.717b
Derive V3$358.91m
Options Premium Volume 30d$63.6m
Options Premium Volume 7d$9.94m
Options Premium Volume 24h$1.19m
Cumulative Options Premium Volume$725.35m
Options Notional Volume 30d$3.192b
Options Notional Volume 7d$439.67m
Options Notional Volume 24h$48.8m
Cumulative Options Notional Volume$28.791b
Open Interest$78.39m
Options Open Interest$2.034b
Market Cap$365.11m
$DRV Price$0.37
Fully Diluted Valuation$547.85m
$DRV Volume 24h$4.29m
CEX Volume$2.3m
DEX Volume$2.08m(48.49% of total)
Staked$0(0% of mcap)
Treasury$181.94m
Majors$54,376
Stablecoins$5.85m
Own Tokens$176.04m
Others$635.35
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
Feb 2, 2026Round: Investors: Variant
Protocol Information
Trade options & perps. Earn yield with restaking derivatives.
- Derive V3 OptionsOptions
- Derive V2Derivatives
- Derive V1Options
- Derive OptionsOptions
- Derive V3 PerpsDerivatives
- Derive V3 SpotDexs
- Derive V2 SpotDexs
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
DEX Volume: Volume of all spot token swaps on the DEX
Perp Volume: Notional volume of all trades including leverage on the perp exchange
Options Premium Volume: Sum of value paid buying and selling options on the exchange
Options Notional Volume: Sum of the notional value of all options that have been traded on the exchange
Derive 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: $198.49m on Oct 6, 2026. All-time low TVL: $635,355 on Sep 8, 2021.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $188.92m |
| Sep 29, 2026 | $185.43m |
| Sep 30, 2026 | $184.51m |
| Oct 1, 2026 | $188.02m |
| Oct 2, 2026 | $186.5m |
| Oct 3, 2026 | $187.15m |
| Oct 4, 2026 | $187.51m |
| Oct 5, 2026 | $196m |
| Oct 6, 2026 | $198.49m |
| Oct 7, 2026 | $120.64m |
| Oct 8, 2026 | $116.26m |
| Oct 9, 2026 | $112.05m |
| Oct 10, 2026 | $111.58m |
| Oct 11, 2026 | $112.74m |
| Oct 12, 2026 | $113.53m |
| Oct 13, 2026 | $105.25m |
| Oct 14, 2026 | $120.28m |
| Oct 15, 2026 | $141.16m |
| Oct 16, 2026 | $185.35m |
| Oct 17, 2026 | $184.47m |
| Oct 18, 2026 | $182.66m |
| Oct 19, 2026 | $184.6m |
| Oct 20, 2026 | $184.57m |
| Oct 21, 2026 | $182.11m |
| Oct 22, 2026 | $184.48m |
| Oct 23, 2026 | $179.22m |
| Oct 24, 2026 | $177.68m |
| Oct 25, 2026 | $177.57m |
| Oct 26, 2026 | $176.92m |
| Oct 27, 2026 | $177.58m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $69.25m |
| Dec 31, 2024 | $117.21m |
| Jan 31, 2025 | $110.35m |
| Feb 28, 2025 | $89.57m |
| Mar 31, 2025 | $76.6m |
| Apr 30, 2025 | $73.42m |
| May 31, 2025 | $78.63m |
| Jun 30, 2025 | $74.48m |
| Jul 31, 2025 | $87.4m |
| Aug 31, 2025 | $89.15m |
| Sep 30, 2025 | $81.95m |
| Oct 31, 2025 | $76.76m |
| Nov 30, 2025 | $72.4m |
| Dec 31, 2025 | $70.89m |
| Jan 31, 2026 | $66.77m |
| Feb 28, 2026 | $69.02m |
| Mar 31, 2026 | $99.82m |
| Apr 30, 2026 | $121.79m |
| May 31, 2026 | $133.29m |
| Jun 30, 2026 | $110.65m |
| Jul 31, 2026 | $113.41m |
| Aug 31, 2026 | $159.52m |
| Sep 30, 2026 | $184.51m |
| Oct 27, 2026 (latest) | $177.58m |
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 | $5.3m |
| Dec 31, 2024 | $117.21m |
| Dec 31, 2025 | $70.89m |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $396,747 | - | - |
| Dec 2024 | $996,502 | $210,087 | $0 |
| Jan 2025 | $1.58m | $513,748 | $0 |
| Feb 2025 | $486,162 | $254,825 | $19,959 |
| Mar 2025 | $336,666 | $147,211 | $48,058 |
| Apr 2025 | $253,467 | $112,032 | $31,945 |
| May 2025 | $317,192 | $143,968 | $62,759 |
| Jun 2025 | $207,322 | $91,551 | $45,293 |
| Jul 2025 | $265,246 | $114,551 | $25,192 |
| Aug 2025 | $335,340 | $153,798 | $48,846 |
| Sep 2025 | $339,587 | $151,087 | $55,952 |
| Oct 2025 | $415,834 | $192,483 | $80,094 |
| Nov 2025 | $286,633 | $133,203 | $75,419 |
| Dec 2025 | $232,301 | $134,235 | $48,636 |
| Jan 2026 | $324,252 | $236,884 | $73,524 |
| Feb 2026 | $247,270 | $152,228 | $74,794 |
| Mar 2026 | $708,611 | $479,121 | $150,124 |
| Apr 2026 | $550,570 | $395,482 | $78,096 |
| May 2026 | $698,013 | $529,963 | $97,874 |
| Jun 2026 | $634,241 | $495,442 | $136,252 |
| Jul 2026 | $485,136 | $390,540 | $98,168 |
| Aug 2026 | $547,971 | $433,873 | $107,763 |
| Sep 2026 | $654,410 | $515,198 | $199,638 |
| Oct 2026 (to date) | $449,652 | $374,927 | $213,147 |
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
Frequently asked questions
What is Derive's TVL?
As of Oct 27, 2026, Derive has $177.58m in total value locked. TVL has decreased 6.2% over the past 30 days.
What chains does Derive operate on?
Derive operates on 9 chains: Ethereum, Arbitrum, OP Mainnet, Base, and Hyperliquid L1 and 4 others. Ethereum holds the largest share at 99.8%.
How much has Derive generated in fees and revenue?
Over the past 30 days, Derive generated $507,426 in fees. Of that, $417,199 was protocol revenue. Based on the trailing year, the annualized rate is $5.88m in fees and $4.3m in revenue.
What is the DRV token price and valuation?
DRV is currently trading at $0.37. Its circulating market capitalization is $367.63m, ranking it #176. Its fully diluted valuation is $551.64m. Supply currently stands at 999.65m circulating, 1.5b total supply, 1.5b maximum supply.
How has DRV performed recently?
DRV is down 7.7% over the past 7 days and down 13.9% over the past 30 days. Its all-time high is $0.57, reached on Oct 9, 2026. The token is currently 35.4% below that level.
Which protocols are included in Derive?
Derive is a parent protocol whose tracked products include Derive V3 Options, Derive V2, Derive V1, Derive Options, and Derive V3 Perps and 2 others.
How much trading volume does Derive process?
Derive processed $2.73m in DEX volume over the past 30 days.
Does Derive have a treasury?
Derive has a tracked treasury currently valued at $181.94m. Its holdings include $5.85m in stablecoins, $54,376 in major assets, $176.04m in its own tokens, $635.35 in other assets.