Ask about Derive · freeTotal Value Locked$182.2m
TVL by Chain
Ethereum$181.86m
OP Mainnet$314,270
Arbitrum$26,408
Mode$0
Blast$0
Hyperliquid L1$0
Base$0
Key Metrics
Fees 30d$527,136
Fees 30d by chain
Derive V3$527,136
Fees 7d$164,988
Derive V3$164,988
Fees 24h$28,390
Derive V3$28,390
Cumulative Fees$15.83m
Derive Chain$13.51m
OP Mainnet$1.13m
Arbitrum$663,779
Derive V3$527,136
Revenue 30d$434,567
Revenue 30d by chain
Derive V3$434,567
Revenue 7d$128,617
Derive V3$128,617
Revenue 24h$21,608
Derive V3$21,608
Cumulative Revenue$6.5m
Derive Chain$6.06m
Derive V3$434,567
Holders Revenue 30d$171,779
Holders Revenue 30d by chain
Derive V3$171,779
Holders Revenue 7d$0
Derive V3$0
Holders Revenue 24h$0
Derive V3$0
Cumulative Holders Revenue$1.78m
Derive Chain$1.61m
Derive V3$171,779
DEX Volume 30d$1.28m
DEX Volume 30d by chain
Derive V3$1.28m
DEX Volume 7d$172,151
Derive V3$172,151
DEX Volume 24h$6,511
Derive V3$6,511
Cumulative DEX Volume$20.01m
Derive Chain$18.73m
Derive V3$1.28m
Perp Volume 30d$697.99m
Perp Volume 30d by chain
Derive V3$674.61m
Derive Chain$23.38m
Perp Volume 7d$295.97m
Derive V3$295.97m
Perp Volume 24h$60.72m
Derive V3$60.72m
Cumulative Perp Volume$16.387b
Derive Chain$15.712b
Derive V3$674.61m
Options Premium Volume 30d$68.13m
Options Premium Volume 7d$17.23m
Options Premium Volume 24h$2.04m
Cumulative Options Premium Volume$745.36m
Options Notional Volume 30d$3.105b
Options Notional Volume 7d$878.52m
Options Notional Volume 24h$167.02m
Cumulative Options Notional Volume$29.779b
Open Interest$76.83m
Options Open Interest$1.833b
Market Cap$395.6m
$DRV Price$0.37
Fully Diluted Valuation$558.62m
$DRV Volume 24h$21.95m
CEX Volume$16.9m
DEX Volume$6.38m(29.05% of total)
Staked$0(0% of mcap)
Treasury$182.1m
Majors$56,150
Stablecoins$4.96m
Own Tokens$177.08m
Others$632.74
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 Nov 5, 2026.
All-time high TVL: $198.49m on Oct 6, 2026. All-time low TVL: $635,355 on Sep 8, 2021.
Daily TVL, Oct 7, 2026 to Nov 5, 2026
| Date | TVL |
|---|---|
| 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 |
| Oct 29, 2026 | $179.05m |
| Oct 30, 2026 | $179.87m |
| Oct 31, 2026 | $183.45m |
| Nov 1, 2026 | $177.6m |
| Nov 2, 2026 | $178.86m |
| Nov 3, 2026 | $173.85m |
| Nov 4, 2026 | $176.44m |
| Nov 5, 2026 | $182.67m |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| 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 31, 2026 | $183.45m |
| Nov 5, 2026 (latest) | $182.67m |
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, Dec 2024 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| 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 | $558,167 | $459,647 | $222,907 |
| Nov 2026 (to date) | $96,129 | $75,713 | $0 |
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 Nov 5, 2026, Derive has $182.2m in total value locked. TVL has decreased 8.2% 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 $527,136 in fees. Of that, $434,567 was protocol revenue. Based on the trailing year, the annualized rate is $5.95m in fees and $4.39m in revenue.
What is the DRV token price and valuation?
DRV is currently trading at $0.37. Its circulating market capitalization is $395.6m, ranking it #168. Its fully diluted valuation is $558.62m. Supply currently stands at 1.062b circulating, 1.5b total supply, 1.5b maximum supply.
How has DRV performed recently?
DRV is down 0.7% over the past 7 days and down 10.3% over the past 30 days. Its all-time high is $0.57, reached on Oct 9, 2026. The token is currently 34.6% 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 $1.28m in DEX volume over the past 30 days.
Does Derive have a treasury?
Derive has a tracked treasury currently valued at $182.1m. Its holdings include $4.96m in stablecoins, $56,150 in major assets, $177.08m in its own tokens, $632.74 in other assets.