Decentralized finance platform Synthetix is set to delve deeper into the world of crypto derivatives by re-acquiring the crypto options platform Derive. Synthetix announced its intention to acquire Derive in a token exchange deal, valuing Derive at approximately $27 million. The acquisition, priced at 1 SNX token to 27 DRV tokens, is pending approval from both communities. If approved, the merger will combine Derive's expertise in front-end and real-world assets with Synthetix's derivatives infrastructure. This move is part of Synthetix's broader strategy, which includes recent acquisitions of Kwenta and TLX, aiming for ecosystem consolidation. The re-acquisition signifies a step towards vertical reintegration, with Synthetix issuing up to 29.3 million of its Synthetix tokens to facilitate the process. Despite recent challenges like the depegging of its stablecoin sUSD, Synthetix remains optimistic about its future in the crypto derivatives market. Read more AI-generated news on: https://app.chaingpt.org/news