Synthetix and Derive cancel $27 million acquisition agreement

according to TheBlock, contributors from Synthetix and Derive have jointly withdrawn a $27 million transaction proposal. According to the proposal, Synthetix will acquire the decentralized options platform Derive (formerly known as Lyra).

The Derive team pointed out: After careful consideration and community feedback, the SIP-415 and DIP proposals to merge Synthetix and Derive have been mutually withdrawn. Earlier reports suggested that Synthetix proposed to acquire the options protocol Derive for $27 million in token exchange.