MetaEra News, May 22 (UTC+8), Synthetix announced the termination of the $27 million acquisition deal for Derive, which was originally planned to exchange 1 SNX for 27 DRV tokens. Due to concerns from the Derive community regarding the low valuation, unfavorable lock-up period, and potential token dilution, both parties ultimately decided to withdraw the proposal. Synthetix stated that it will continue to explore other opportunities to build a decentralized derivatives platform on the Ethereum mainnet. (Source: PANews)