PANews reported on September 14th that Derive co-founder Nick Forster proposed increasing the supply of DRV, the native token of his on-chain options exchange, to retain core contributors and secure deals with institutional partners. The proposal calls for minting 500 million DRV tokens, increasing the supply by 50%, and distributing these tokens to the Derive Foundation (to be renamed the Lyra Foundation). Forster stated that the proposal estimates that existing holders would see their tokens diluted by up to 8.25% annually over four years. As part of the proposal, Forster said Derive has “entered into a key partnership that will bring institutional-grade liquidity and custody services to the ecosystem,” adding that the foundation is “in advanced talks with several of the largest liquidity providers and dealers to bring in deeper liquidity and launch new product lines.”PANews reported on September 14th that Derive co-founder Nick Forster proposed increasing the supply of DRV, the native token of his on-chain options exchange, to retain core contributors and secure deals with institutional partners. The proposal calls for minting 500 million DRV tokens, increasing the supply by 50%, and distributing these tokens to the Derive Foundation (to be renamed the Lyra Foundation). Forster stated that the proposal estimates that existing holders would see their tokens diluted by up to 8.25% annually over four years. As part of the proposal, Forster said Derive has “entered into a key partnership that will bring institutional-grade liquidity and custody services to the ecosystem,” adding that the foundation is “in advanced talks with several of the largest liquidity providers and dealers to bring in deeper liquidity and launch new product lines.”

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more