Ask about Derive · freeTotal Value Locked$185.05m
TVL by Chain
Ethereum$184.58m
OP Mainnet$423,551
Arbitrum$26,421
Base$15,413
Mode$0
Blast$0
Hyperliquid L1$0
Key Metrics
Fees 30d$628,836
Fees 30d by chain
Derive Chain$409,410
Derive V3$219,426
Fees 7d$132,184
Derive V3$132,184
Fees 24h$11,885
Derive V3$11,885
Cumulative Fees$15.54m
Derive Chain$13.51m
OP Mainnet$1.13m
Arbitrum$663,779
Derive V3$231,840
Revenue 30d$500,489
Revenue 30d by chain
Derive Chain$313,519
Derive V3$186,970
Revenue 7d$112,530
Derive V3$112,530
Revenue 24h$9,852
Derive V3$9,852
Cumulative Revenue$6.26m
Derive Chain$6.06m
Derive V3$197,271
Holders Revenue 30d$0
Holders Revenue 30d by chain
Derive Chain$0
Derive V3$0
Holders Revenue 7d$0
Derive V3$0
Holders Revenue 24h$0
Derive V3$0
Cumulative Holders Revenue$0
Derive Chain$0
Derive V3$0
DEX Volume 30d$4.51m
DEX Volume 30d by chain
Derive Chain$3.66m
Derive V3$855,732
DEX Volume 7d$226,691
Derive V3$226,691
DEX Volume 24h$26,428
Derive V3$26,428
Cumulative DEX Volume$19.63m
Derive Chain$18.73m
Derive V3$892,569
Perp Volume 30d$1.015b
Perp Volume 30d by chain
Derive Chain$787.5m
Derive V3$227.47m
Perp Volume 7d$133.75m
Derive V3$133.75m
Perp Volume 24h$15.58m
Derive V3$15.58m
Cumulative Perp Volume$15.965b
Derive Chain$15.721b
Derive V3$243.7m
Options Premium Volume 30d$78.99m
Options Premium Volume 7d$18.9m
Options Premium Volume 24h$1.04m
Cumulative Options Premium Volume$711.84m
Options Notional Volume 30d$4.059b
Options Notional Volume 7d$888.37m
Options Notional Volume 24h$47.33m
Cumulative Options Notional Volume$28.099b
Open Interest$73.68m
Options Open Interest$1.826b
Market Cap$392.11m
$DRV Price$0.39
Fully Diluted Valuation$588.36m
$DRV Volume 24h$10.35m
CEX Volume$6.95m
DEX Volume$3.38m(32.67% of total)
Staked$0(0% of mcap)
Treasury$193.91m
Majors$52,576
Stablecoins$5.84m
Own Tokens$188.01m
Others$8,163
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 Oct 19, 2026.
All-time high TVL: $198.49m on Oct 6, 2026. All-time low TVL: $635,355 on Sep 8, 2021.
Daily TVL, Sep 20, 2026 to Oct 19, 2026
| Date | TVL |
|---|---|
| Sep 20, 2026 | $193.26m |
| Sep 21, 2026 | $194.86m |
| Sep 22, 2026 | $195.36m |
| Sep 23, 2026 | $196.73m |
| Sep 24, 2026 | $193.25m |
| Sep 25, 2026 | $190.56m |
| Sep 26, 2026 | $189.73m |
| Sep 27, 2026 | $189.27m |
| Sep 28, 2026 | $188.92m |
| Sep 29, 2026 | $185.43m |
| Sep 30, 2026 | $184.51m |
| Oct 1, 2026 | $188.02m |
| Oct 2, 2026 | $186.5m |
| Oct 3, 2026 | $187.15m |
| Oct 4, 2026 | $187.51m |
| Oct 5, 2026 | $196m |
| Oct 6, 2026 | $198.49m |
| 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 | $182.66m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $69.25m |
| 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 19, 2026 (latest) | $182.66m |
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, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $396,747 | - | - |
| Dec 2024 | $996,502 | $210,087 | $0 |
| Jan 2025 | $1.58m | $513,748 | $0 |
| Feb 2025 | $486,162 | $254,825 | $0 |
| Mar 2025 | $336,666 | $147,211 | $0 |
| Apr 2025 | $253,467 | $112,032 | $0 |
| May 2025 | $317,192 | $143,968 | $0 |
| Jun 2025 | $207,322 | $91,551 | $0 |
| Jul 2025 | $265,246 | $114,551 | $0 |
| Aug 2025 | $335,340 | $153,798 | $0 |
| Sep 2025 | $339,587 | $151,087 | $0 |
| Oct 2025 | $415,834 | $192,483 | $0 |
| Nov 2025 | $286,633 | $133,203 | $0 |
| Dec 2025 | $232,301 | $134,235 | $0 |
| Jan 2026 | $324,252 | $236,884 | $0 |
| Feb 2026 | $247,270 | $152,228 | $0 |
| Mar 2026 | $708,611 | $479,121 | $0 |
| Apr 2026 | $550,570 | $395,482 | $0 |
| May 2026 | $698,013 | $529,963 | $0 |
| Jun 2026 | $634,241 | $495,442 | $0 |
| Jul 2026 | $485,136 | $390,540 | $0 |
| Aug 2026 | $547,971 | $433,873 | $0 |
| Sep 2026 | $654,410 | $515,198 | $0 |
| Oct 2026 (to date) | $335,644 | $280,103 | $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 Oct 19, 2026, Derive has $185.05m in total value locked. TVL has decreased 3.3% 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 99.7%.
How much has Derive generated in fees and revenue?
Over the past 30 days, Derive generated $628,836 in fees. Of that, $500,489 was protocol revenue. Based on the trailing year, the annualized rate is $5.84m in fees and $4.24m in revenue.
What is the DRV token price and valuation?
DRV is currently trading at $0.39. Its circulating market capitalization is $391.55m, ranking it #181. Its fully diluted valuation is $587.53m. Supply currently stands at 999.65m circulating, 1.5b total supply, 1.5b maximum supply.
How has DRV performed recently?
DRV is down 19.3% over the past 7 days and down 9.2% over the past 30 days. Its all-time high is $0.57, reached on Oct 9, 2026. The token is currently 31.2% 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 $4.51m in DEX volume over the past 30 days.
Does Derive have a treasury?
Derive has a tracked treasury currently valued at $193.91m. Its holdings include $5.84m in stablecoins, $52,576 in major assets, $188.01m in its own tokens, $8,163 in other assets.