PANews May 22 news, according to Cointelegraph, Synthetix announced the termination of the acquisition deal for Derive, which was valued at $27 million and originally intended to exchange 1 SNX for 27 DRV tokens. Due to concerns from the Derive community regarding the low valuation, unfavorable lock-up period, and potential token dilution, both parties ultimately decided to withdraw the proposal. Synthetix stated it will continue to explore other opportunities to build a decentralized derivatives platform on the Ethereum mainnet.