Synthetix, a main protocol of derivatives Defirifies, proposed an acquisition of $ 27 million from the crypto options derived through a token swap agreement.
Announced on May 14, the plan aims to strengthen the scope of Synthetix in the cryptography derivative sector by reinstating an old spin-off of the ecosystem.
The proposed acquisition values derive – well known as Lyra, or about 27 million dollars, with an exchange ratio of 1 SNX at 27 DRV tokens.
Community vote to decide 27 million dollars acquisition next week
The agreement, formalized as part of the Synthetix 415 improvement proposal (SIP-415), is awaiting approval from the Synthetix and drift communities, with the vote that should take place next week.
If Greenlit, the merger will combine actual derive assets (RWA) and frontal commercial expertise with the basic infrastructure of synthetix derivatives.
This decision follows the recent Acquisitions of Synthetix of Kwenta and TLX, signaling a strategic thrust towards vertical reintegration into its ecosystem.
“The reunition under a single banner simplifies our architecture and our governance and unlocks the next phase,” said Synthetix founder Kain Warwick.
He compared the rejuvenation to successful startups “come back to join the family business”.
The proposal positions Synthetix to directly control a series of derivative products, including perpetuals, options and channels specific to the application – each already linked to SNX, the project’s native token.
As part of our full -fledged conduct towards Synthetix V4 on Ethereum MAINNET, a new proposal has just fallen:
Synthetix to acquire @Derivexyz Exchange of Perps and options
Let’s do it (1/6)
– Synthetix
(@Synthetix_io) May 14, 2025
(@Synthetix_io) On the social media platform X, Synthetix stressed that the consolidation movement is essential for competition with the best derivative players such as Hyperliquid, Binance, Dydx and Deribit, which was recently acquired by Coinbase.
To finance the acquisition, Synthetix will strike up to 29.3 million SNX tokens. These will be distributed with a three-month locking period, followed by a nine-month linear acquisition calendar.
At the time of writing this document, SNX was negotiated at $ 0.94, up 11.5% on the day. However, the token remains considerably down compared to its peak in February 2021 by $ 28.53, a drop of 97%, by Coingecko.
Synthetix pushes a new pace plan to restore Susd Peg
Last month, the founder of Synthetix, Kain Warwick, urged SNX stakers to participate in the new Pool Susd 420, a jealous mechanism introduced to restore the dollar ankle of the Susd Stablecoin.
The swimming pool offers a share of 5 million SNX tokens to users who lock their SUSD for 12 months, aimed at reducing the supply of token and stabilizing its value.
Despite the incentive, Warwick admitted that the process was still “very manual” and does not have an appropriate user interface, which is currently in development.
He warned that if voluntary participation remains low even after the launch of the user interface, more aggressive measures could follow.
SUSD, a crypto-collateralized stablecoin supported by SNX, had trouble maintaining its ankle, recently falling as low as $ 0.68 before going back to $ 0.77.
Warwick stressed that the solution lies in the SNX community, the combined richness of which could solve the problem.
The initiative is part of the SIP-420, which also transfers the risk of debt of stakers to the protocol itself.
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