Derive community releases V3 launch proposal, plans to migrate V2 assets and discontinue Derive Chain.

BlockBeats news, September 15: The Derive community has released a governance proposal to "Launch Derive V3," planning to deploy the V3 protocol based on zkVM and settled on the Ethereum mainnet, writing V2 accounts, balances, positions, ERC-20 assets in wallets, stDRV, pending rewards, and native ETH into the V3 genesis state, and halting the Derive Chain after a successful migration.

V3 adopts an architecture of off-chain matching and on-chain zero-knowledge proof verification, with calculations such as margin, pricing, and settlement completed in zkVM, the Ethereum mainnet responsible for verifying proofs, and state differences published to Celestia. The proposal states that the new version will increase transaction throughput and support features such as cross-margining of thousands of positions within a single portfolio, borrowing and lending of non-cash assets, cross-currency margin, and RWA risk isolation.

If the proposal is approved, the project team will issue a notice at least 14 days before the migration. Cross-chain will be suspended 4 hours before migration, and trading will stop 5 minutes before, with unrealized profit and loss settled; V2 state will be automatically migrated, with no need for users to redeposit. Withdrawals will be temporarily closed in the initial period after trading resumes, with most assets expected to resume withdrawals within a few hours to 2 days, and some assets may take up to an additional week to migrate. stDRV will be deployed to the Ethereum mainnet, and DRV will also be integrated with Robinhood Chain.