Ask about Derive · freeTotal Value Locked$178.55m
TVL by Chain
Ethereum$178.21m
OP Mainnet$314,145
Arbitrum$26,396
Mode$0
Blast$0
Base$0
Hyperliquid L1$0
Key Metrics
Fees 30d$507,180
Fees 30d by chain
Derive V3$345,602
Derive Chain$161,578
Fees 7d$90,813
Derive V3$90,813
Fees 24h$10,164
Derive V3$10,164
Cumulative Fees$15.65m
Derive Chain$13.51m
OP Mainnet$1.13m
Arbitrum$663,779
Derive V3$345,602
Revenue 30d$416,994
Revenue 30d by chain
Derive V3$291,890
Derive Chain$125,104
Revenue 7d$75,113
Derive V3$75,113
Revenue 24h$7,935
Derive V3$7,935
Cumulative Revenue$6.36m
Derive Chain$6.06m
Derive V3$291,890
Holders Revenue 30d$253,249
Holders Revenue 30d by chain
Derive V3$162,573
Derive Chain$90,676
Holders Revenue 7d$74,924
Derive V3$74,924
Holders Revenue 24h$55,020
Derive V3$55,020
Cumulative Holders Revenue$1.77m
Derive Chain$1.61m
Derive V3$162,573
DEX Volume 30d$2.73m
DEX Volume 30d by chain
Derive Chain$1.63m
Derive V3$1.09m
DEX Volume 7d$183,538
Derive V3$183,538
DEX Volume 24h$68,677
Derive V3$68,677
Cumulative DEX Volume$19.83m
Derive Chain$18.73m
Derive V3$1.09m
Perp Volume 30d$675.31m
Perp Volume 30d by chain
Derive V3$358.56m
Derive Chain$316.75m
Perp Volume 7d$100.29m
Derive V3$100.29m
Perp Volume 24h$14.31m
Derive V3$14.31m
Cumulative Perp Volume$16.076b
Derive Chain$15.717b
Derive V3$358.56m
Options Premium Volume 30d$63.6m
Options Premium Volume 7d$9.94m
Options Premium Volume 24h$1.19m
Cumulative Options Premium Volume$725.34m
Options Notional Volume 30d$3.191b
Options Notional Volume 7d$439.04m
Options Notional Volume 24h$48.16m
Cumulative Options Notional Volume$28.791b
Open Interest$78.21m
Options Open Interest$2.043b
Market Cap$369.71m
$DRV Price$0.37
Fully Diluted Valuation$554.76m
$DRV Volume 24h$4.64m
CEX Volume$2.31m
DEX Volume$2.25m(48.38% of total)
Staked$0(0% of mcap)
Treasury$183.47m
Majors$54,383
Stablecoins$5.85m
Own Tokens$177.57m
Others$637.73
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 28, 2026.
All-time high TVL: $198.49m on Oct 6, 2026. All-time low TVL: $635,355 on Sep 8, 2021.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| 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 |
| Oct 28, 2026 | $178.31m |
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 28, 2026 (latest) | $178.31m |
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) | $459,957 | $382,949 | $277,927 |
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 28, 2026, Derive has $178.55m in total value locked. TVL has decreased 5.5% 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 $507,180 in fees. Of that, $416,994 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 $369.71m, ranking it #175. Its fully diluted valuation is $554.76m. Supply currently stands at 999.65m circulating, 1.5b total supply, 1.5b maximum supply.
How has DRV performed recently?
DRV is down 7.8% over the past 7 days and down 9.2% over the past 30 days. Its all-time high is $0.57, reached on Oct 9, 2026. The token is currently 35% 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 $183.47m. Its holdings include $5.85m in stablecoins, $54,383 in major assets, $177.57m in its own tokens, $637.73 in other assets.