Ask about Derive · freeTotal Value Locked$177m
TVL by Chain
Ethereum$176.66m
OP Mainnet$314,172
Arbitrum$26,396
Mode$0
Blast$0
Hyperliquid L1$0
Base$0
Key Metrics
Fees 30d$511,870
Fees 30d by chain
Derive V3$335,437
Derive Chain$176,433
Fees 7d$104,529
Derive V3$104,529
Fees 24h$11,492
Derive V3$11,492
Cumulative Fees$15.64m
Derive Chain$13.51m
OP Mainnet$1.13m
Arbitrum$663,779
Derive V3$335,437
Revenue 30d$420,572
Revenue 30d by chain
Derive V3$283,955
Derive Chain$136,617
Revenue 7d$88,437
Derive V3$88,437
Revenue 24h$9,040
Derive V3$9,040
Cumulative Revenue$6.35m
Derive Chain$6.06m
Derive V3$283,955
Holders Revenue 30d$198,229
Holders Revenue 30d by chain
Derive V3$107,553
Derive Chain$90,676
Holders Revenue 7d$25,141
Derive V3$25,141
Holders Revenue 24h$0
Derive V3$0
Cumulative Holders Revenue$1.72m
Derive Chain$1.61m
Derive V3$107,553
DEX Volume 30d$2.79m
DEX Volume 30d by chain
Derive Chain$1.76m
Derive V3$1.03m
DEX Volume 7d$129,958
Derive V3$129,958
DEX Volume 24h$31,112
Derive V3$31,112
Cumulative DEX Volume$19.76m
Derive Chain$18.73m
Derive V3$1.03m
Perp Volume 30d$686.87m
Perp Volume 30d by chain
Derive V3$344.25m
Derive Chain$342.62m
Perp Volume 7d$103.45m
Derive V3$103.45m
Perp Volume 24h$16.28m
Derive V3$16.28m
Cumulative Perp Volume$16.061b
Derive Chain$15.717b
Derive V3$344.25m
Options Premium Volume 30d$63.33m
Options Premium Volume 7d$11.76m
Options Premium Volume 24h$893,676
Cumulative Options Premium Volume$724.16m
Options Notional Volume 30d$3.204b
Options Notional Volume 7d$615.72m
Options Notional Volume 24h$55.23m
Cumulative Options Notional Volume$28.743b
Open Interest$77.96m
Options Open Interest$2.021b
Market Cap$362.34m
$DRV Price$0.36
Fully Diluted Valuation$543.7m
$DRV Volume 24h$3.85m
CEX Volume$2.26m
DEX Volume$1.83m(47.6% of total)
Staked$0(0% of mcap)
Treasury$175.16m
Majors$53,627
Stablecoins$5.84m
Own Tokens$169.27m
Others$627.89
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 | $178.19m |
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) | $178.19m |
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) | $450,445 | $376,038 | $212,362 |
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 $177m in total value locked. TVL has decreased 6.5% 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 $511,870 in fees. Of that, $420,572 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 $0.36. Its circulating market capitalization is $364.4m, ranking it #176. Its fully diluted valuation is $546.79m. Supply currently stands at 999.65m circulating, 1.5b total supply, 1.5b maximum supply.
How has DRV performed recently?
DRV is down 8.3% over the past 7 days and down 11% over the past 30 days. Its all-time high is $0.57, reached on Oct 9, 2026. The token is currently 36% 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 $2.79m in DEX volume over the past 30 days.
Does Derive have a treasury?
Derive has a tracked treasury currently valued at $175.16m. Its holdings include $5.84m in stablecoins, $53,627 in major assets, $169.27m in its own tokens, $627.89 in other assets.