Synthetix proposes a $27 million token swap to acquire the Derive options platform, reuniting two previously separated projects.

This unusual DeFi acquisition would see Derive's treasury, code, and operations integrated into Synthetix, with DRV holders receiving 27 SNX tokens per DRV (subject to vesting). However, the proposal faces backlash from the Derive community, citing concerns over unfavorable valuation and limited benefits for DRV holders. DRV's price has dropped significantly following the announcement, while SNX has risen.