Derive ($DRV) token airdrop guide

By
Angela Wang
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Derive ($DRV) is a self-custodial, high-performance crypto trading platform for options, perpetuals, and spot trading, built on an Optimistic rollup secured by Ethereum and governed by the Derive DAO. Participants can how claim their airdrop rewards! Here is our Derive ($DRV) token airdrop guide.

Check out our step by step guide!

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What is Derive ($DRV)?

Derive is a self-custodial, high-performance crypto trading platform for options, perpetuals, and spot trading. It operates on an Optimistic rollup secured by Ethereum and is governed by the Derive DAO. Here are some of Derive’s main features:

  1. Derive Chain: A settlement layer for transactions, built on the OP Stack and secured by Ethereum.
  2. Derive Protocol: Enables permissionless, self-custodial margin trading of perpetuals, options, and spot.
  3. Derive Exchange: An orderbook that efficiently matches orders and settles them to the Derive Protocol.
  4. Cross-Margin: Utilizes all asset balances as collateral across all perpetual and options positions within a subaccount.
  5. Cross-Asset Collateral: Supports various base assets as collateral, enabling strategies like selling a BTC call with WBTC collateral.
  6. Portfolio Margin: Uses a scenario-based model to determine margin requirements based on the maximum potential loss of an entire portfolio.
  7. DRV Token: Derive’s native utility token, integral to the platform’s ecosystem, earned through trading activities, staking, and governance participation.
  8. Platform Accessibility: Self-custodial platform, meaning users retain control over their private keys and funds.
  9. Automated Market Makers (AMMs): Provides liquidity in decentralized exchange pools, earning fees from trading activities.

How to get the Derive ($DRV) token airdrop

Time needed: 25 minutes

Here is a guide on how to get the Derive ($DRV) token airdrop

  1. Connect to Derive

    Go to Derive and connect your wallet

  2. Trade on Derive

    Trade options and perpetuals on Derive to earn OP and your DRV allocation. For every $1 in fees (after subtracting the base fee), you earn 10k DRV points. If you rank amongst the top 25 traders in any even week, you will also earn 2x the fees.

  3. Deposit tokens to Derive

    Depositing tokens to Derive allows you to earn 1 point per US$1 deposited per day.

  4. Invite friends

    Invite your friends with your referral code to earn USDC, OP and DRV. For every trader you refer, both you and the trader will receive: 50 OP bonus, 10% of referred fees paid in USDC, 20% of referred fees paid in DRV and 10% of secondary referred fees paid in DRV.

  5. How to claim the Derive ($DRV) token airdrop

    Go to https://www.derive.xyz/home and click “Claim airdrop” on the top right hand corner. Enter your wallet address and click “Check”.

  6. Stake and delegate your airdropped $DRV tokens

    You can choose to sell your Derive ($DRV) tokens on the market. However, this will mean you will not get any future rewards. On the other hand, you can stake or delegate your airdropped ($DRV) tokens to earn $stDRV rewards. To stake your $DRV, go to the staking page, select the amount you wish to stake and confirm the transaction.

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