Ask about Derive · freeTotal Value Locked$157.73m
TVL by Chain
Ethereum$157.39m
OP Mainnet$314,153
Arbitrum$26,381
Mode$0
Blast$0
Base$0
Hyperliquid L1$0
Key Metrics
Fees 30d$561,798
Fees 30d by chain
Derive V3$561,798
Fees 7d$133,913
Derive V3$133,913
Fees 24h$24,454
Derive V3$24,454
Cumulative Fees$16m
Derive Chain$13.51m
OP Mainnet$1.13m
Derive V3$692,142
Arbitrum$663,779
Revenue 30d$454,926
Revenue 30d by chain
Derive V3$454,926
Revenue 7d$107,674
Derive V3$107,674
Revenue 24h$19,983
Derive V3$19,983
Cumulative Revenue$6.63m
Derive Chain$6.06m
Derive V3$565,839
Holders Revenue 30d$123,235
Holders Revenue 30d by chain
Derive V3$123,235
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$1m
DEX Volume 30d by chain
Derive V3$1m
DEX Volume 7d$397,058
Derive V3$397,058
DEX Volume 24h$82,704
Derive V3$82,704
Cumulative DEX Volume$20.41m
Derive Chain$18.73m
Derive V3$1.68m
Perp Volume 30d$781.23m
Perp Volume 30d by chain
Derive V3$781.23m
Perp Volume 7d$196.5m
Derive V3$196.5m
Perp Volume 24h$29.34m
Derive V3$29.34m
Cumulative Perp Volume$16.635b
Derive Chain$15.721b
Derive V3$913.39m
Options Premium Volume 30d$116.33m
Options Premium Volume 7d$64.11m
Options Premium Volume 24h$4.44m
Cumulative Options Premium Volume$813.47m
Options Notional Volume 30d$3.313b
Options Notional Volume 7d$717.08m
Options Notional Volume 24h$127.96m
Cumulative Options Notional Volume$30.685b
Open Interest$80.82m
Options Open Interest$1.62b
Market Cap$314.49m
$DRV Price$0.30
Fully Diluted Valuation$444.09m
$DRV Volume 24h$7.08m
CEX Volume$4.31m
DEX Volume$3.31m(46.79% of total)
Staked$0(0% of mcap)
Treasury$148.13m
Majors$44,940
Stablecoins$5.05m
Own Tokens$143.01m
Others$21,657
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 13, 2026.
All-time high TVL: $198.49m on Oct 6, 2026. All-time low TVL: $635,355 on Sep 8, 2021.
Daily TVL, Oct 15, 2026 to Nov 13, 2026
| Date | TVL |
|---|---|
| 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 |
| Nov 6, 2026 | $173.41m |
| Nov 7, 2026 | $173.46m |
| Nov 8, 2026 | $171.98m |
| Nov 9, 2026 | $169.17m |
| Nov 10, 2026 | $170.19m |
| Nov 11, 2026 | $168.19m |
| Nov 12, 2026 | $164.01m |
| Nov 13, 2026 | $161.26m |
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 13, 2026 (latest) | $161.26m |
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) | $269,034 | $213,123 | $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 13, 2026, Derive has $157.73m in total value locked. TVL has increased 31.1% 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 $561,798 in fees. Of that, $454,926 was protocol revenue. Based on the trailing year, the annualized rate is $6.04m in fees and $4.49m in revenue.
What is the DRV token price and valuation?
DRV is currently trading at $0.29. Its circulating market capitalization is $312.58m, ranking it #182. Its fully diluted valuation is $441.39m. Supply currently stands at 1.062b circulating, 1.5b total supply, 1.5b maximum supply.
How has DRV performed recently?
DRV is down 7.6% over the past 7 days and down 27.3% over the past 30 days. Its all-time high is $0.57, reached on Oct 9, 2026. The token is currently 48.3% 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 $1m in DEX volume over the past 30 days.
Does Derive have a treasury?
Derive has a tracked treasury currently valued at $148.13m. Its holdings include $5.05m in stablecoins, $44,940 in major assets, $143.01m in its own tokens, $21,657 in other assets.