Onchain Options Exchange Aims for Ambitious Token Growth to Rival Industry Leaders

Token Supply Increase Proposal: Co-founder Nick Forster has proposed increasing the supply of DRV tokens by 500 million to enhance the platform's competitiveness and facilitate partnerships with major financial entities, citing the need to rival larger players in the options market.

Distribution and Vesting Plan: Nearly half of the new tokens would be allocated to the core team with a four-year vesting period and a market cap condition, while the overall dilution for investors would be limited to just over 8% annually for four years.

Controversy Over Supply Changes: The proposal is contentious as it contradicts previous commitments to maintain a steady token supply during the rebranding from LYRA to DRV, raising concerns about growth strategies amidst recent challenges, including a failed merger with Synthetix.

Strategic Goals: Derive aims to leverage the additional tokens to gain credibility and compete effectively in a market dominated by well-capitalized competitors, following a turbulent period marked by team and investor changes.