Synthetix and Derive cancel $27 million acquisition agreement

Odaily News Contributors from Synthetix and Derive have jointly withdrawn a $27 million transaction proposal, under which Synthetix would acquire decentralized options platform Derive (formerly Lyra). The Derive team noted: "After thoughtful discussion and community feedback, the SIP-415 and DIP proposals to merge Synthetix and Derive have been mutually withdrawn."
Earlier news, Synthetix proposed to acquire the options protocol Derive through a token exchange of $27 million. (The Block)