Came across Bankless: Derive, a leading on-chain options platform, has officially launched V3, and trading is back open.
The key change: Derive has retired its own OP Stack-based Derive Chain and switched to a zkVM exchange. Matching remains off-chain (sub-millisecond), while margin and settlement are verified with ZK proofs in Ethereum mainnet contracts. State data is stored on Celestia, and if the operator goes down, users can still force withdrawals from L1. V2 balances and positions have been migrated automatically, but trigger and TWAP orders need to be resubmitted. New features: ETH and BTC can be used together as collateral; borrowing, previously limited to USDC on V2, now also supports ETH, WBTC, and HYPE. U.S. users still can’t access the platform. According to Alea Research, as of October 1, Derive’s 2026 options notional trading volume was about $14.2 billion—nearly three times its total for all of 2025.
Bringing custody of funds for on-chain options back from its own L2 to mainnet is a substantial move—you want speed, but you also need an escape hatch.
$ETH #期权 #DeFi #Derive
The key change: Derive has retired its own OP Stack-based Derive Chain and switched to a zkVM exchange. Matching remains off-chain (sub-millisecond), while margin and settlement are verified with ZK proofs in Ethereum mainnet contracts. State data is stored on Celestia, and if the operator goes down, users can still force withdrawals from L1. V2 balances and positions have been migrated automatically, but trigger and TWAP orders need to be resubmitted. New features: ETH and BTC can be used together as collateral; borrowing, previously limited to USDC on V2, now also supports ETH, WBTC, and HYPE. U.S. users still can’t access the platform. According to Alea Research, as of October 1, Derive’s 2026 options notional trading volume was about $14.2 billion—nearly three times its total for all of 2025.
Bringing custody of funds for on-chain options back from its own L2 to mainnet is a substantial move—you want speed, but you also need an escape hatch.
$ETH #期权 #DeFi #Derive