Ask about Derive · freeTotal Value Locked$177.93m
TVL by Chain
Ethereum$177.59m
OP Mainnet$314,016
Arbitrum$26,402
Mode$0
Blast$0
Base$0
Hyperliquid L1$0
Key Metrics
Fees 30d$534,197
Fees 30d by chain
Derive V3$313,324
Derive Chain$220,873
Fees 7d$106,217
Derive V3$106,217
Fees 24h$10,853
Derive V3$10,853
Cumulative Fees$15.63m
Derive Chain$13.51m
OP Mainnet$1.13m
Arbitrum$663,779
Derive V3$323,337
Revenue 30d$435,228
Revenue 30d by chain
Derive V3$265,862
Derive Chain$169,366
Revenue 7d$90,166
Derive V3$90,166
Revenue 24h$9,178
Derive V3$9,178
Cumulative Revenue$6.34m
Derive Chain$6.06m
Derive V3$274,296
Holders Revenue 30d$232,321
Holders Revenue 30d by chain
Derive Chain$124,768
Derive V3$107,553
Holders Revenue 7d$59,009
Derive V3$59,009
Holders Revenue 24h$0
Derive V3$0
Cumulative Holders Revenue$1.72m
Derive Chain$1.61m
Derive V3$107,553
DEX Volume 30d$2.82m
DEX Volume 30d by chain
Derive Chain$1.84m
Derive V3$985,740
DEX Volume 7d$156,436
Derive V3$156,436
DEX Volume 24h$19,382
Derive V3$19,382
Cumulative DEX Volume$19.73m
Derive Chain$18.73m
Derive V3$994,065
Perp Volume 30d$761.35m
Perp Volume 30d by chain
Derive Chain$441.26m
Derive V3$320.09m
Perp Volume 7d$108.2m
Derive V3$108.2m
Perp Volume 24h$9.82m
Derive V3$9.82m
Cumulative Perp Volume$16.045b
Derive Chain$15.717b
Derive V3$328.01m
Options Premium Volume 30d$63.77m
Options Premium Volume 7d$11.62m
Options Premium Volume 24h$1.47m
Cumulative Options Premium Volume$722.47m
Options Notional Volume 30d$3.377b
Options Notional Volume 7d$641.11m
Options Notional Volume 24h$49.65m
Cumulative Options Notional Volume$28.684b
Open Interest$74.94m
Options Open Interest$1.958b
Market Cap$360.06m
$DRV Price$0.36
Fully Diluted Valuation$540.27m
$DRV Volume 24h$8.8m
CEX Volume$6.34m
DEX Volume$2.44m(27.74% of total)
Staked$0(0% of mcap)
Treasury$178.68m
Majors$51,424
Stablecoins$5.84m
Own Tokens$172.78m
Others$3,973
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 25, 2026.
All-time high TVL: $198.49m on Oct 6, 2026. All-time low TVL: $635,355 on Sep 8, 2021.
Daily TVL, Sep 26, 2026 to Oct 25, 2026
| Date | TVL |
|---|---|
| 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 | $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 |
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 25, 2026 (latest) | $177.57m |
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 | $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 (to date) | $427,141 | $357,128 | $158,681 |
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 25, 2026, Derive has $177.93m in total value locked. TVL has decreased 6.6% 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 $534,197 in fees. Of that, $435,228 was protocol revenue. Based on the trailing year, the annualized rate is $5.87m in fees and $4.29m in revenue.
What is the DRV token price and valuation?
DRV is currently trading at $0.36. Its circulating market capitalization is $358.76m, ranking it #178. Its fully diluted valuation is $538.33m. Supply currently stands at 999.65m circulating, 1.5b total supply, 1.5b maximum supply.
How has DRV performed recently?
DRV is down 4.9% over the past 7 days and down 17.4% over the past 30 days. Its all-time high is $0.57, reached on Oct 9, 2026. The token is currently 37% 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 $2.82m in DEX volume over the past 30 days.
Does Derive have a treasury?
Derive has a tracked treasury currently valued at $178.68m. Its holdings include $5.84m in stablecoins, $51,424 in major assets, $172.78m in its own tokens, $3,973 in other assets.