Derive just did something backwards: they killed their own OP Stack chain for V3.
Oct 8 migration complete. Funds now held by Ethereum L1 contracts. Matching stays offchain. Margin + settlement verified via ZK proofs on mainnet. Positions auto-migrated, but limit orders and TWAP need resubmission.
The upgrade isn't about keeping a chain alive on slides. It's about letting users force-withdraw from L1 even if the operator goes dark.
Speed offchain. Exit onchain. That tradeoff is worth more than "fully onchain" buzzwords.
$ETH #DeFi
Oct 8 migration complete. Funds now held by Ethereum L1 contracts. Matching stays offchain. Margin + settlement verified via ZK proofs on mainnet. Positions auto-migrated, but limit orders and TWAP need resubmission.
The upgrade isn't about keeping a chain alive on slides. It's about letting users force-withdraw from L1 even if the operator goes dark.
Speed offchain. Exit onchain. That tradeoff is worth more than "fully onchain" buzzwords.
$ETH #DeFi