Derive Launches V3 Upgrade Featuring Direct Ethereum Layer 1 Settlement

Key Facts

1Derive launched its V3 upgrade, replacing Derive Chain with a zkVM-based exchange architecture.

2The upgrade allows users to force withdrawals through Ethereum Layer 1 if processing stops, enhancing security.

Derive launched its V3 upgrade, replacing the previous Derive Chain with a zkVM-based exchange architecture. TokenPost reported that the new system integrates Ethereum Layer 1 for settlement and margining, marking a significant shift in the platform's technical framework.

The upgrade allows users to force withdrawals through Ethereum Layer 1 if processing stops, providing a critical security fail-safe. By transitioning to a zkVM-based system, Derive aims to improve decentralization and ensure users maintain control over their funds even during potential processing disruptions.