Yahoo Crypto Market • October 8th 2026, 6:30 PM
Derive V3 Goes Live, Moving Onchain Options Custody to Ethereum
Key Summary
Derive, the largest onchain options venue, has launched its V3, moving onchain options custody to Ethereum and adding ETH, WBTC, and HYPE borrowing. The rebuild retires Derive Chain, its OP Stack rollup, for a zkVM exchange that keeps user funds in Ethereum L1 contracts.
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Architecture and Features
Derive's V3 architecture retains the core of the existing system, with order matching staying offchain. The rebuild focuses on a zkVM exchange that keeps user funds in Ethereum L1 contracts.V2 Migration Completion
Derive's V2 migration is now complete, and trading is back on. The V2 migration was a significant undertaking that involved the retirement of Derive Chain, the OP Stack rollup.New Features and Additions
Derive V3 adds ETH, WBTC, and HYPE borrowing to its platform. These additions provide users with more options for borrowing and lending on the Ethereum network.Custody and Security
Derive's V3 architecture prioritizes custody and security, keeping user funds in Ethereum L1 contracts. This approach ensures that user assets are protected and secure.Conclusion
Derive's V3 launch marks an important milestone in the evolution of onchain options trading. With its zkVM exchange and focus on custody and security, Derive is well-positioned to lead the market in the future.#DeriveV3#Ethereum#US#Crypto