Options flow on Derive this month has been telling three very different stories. ETH is the conviction long: +$2.4M net bullish premium, mostly put underwriting between $1.8k and $2k and synthetic longs. Positive flows every single week. BTC came in hot with an early month bull put spread, went quiet, then started chasing ATM calls once spot pushed toward $66k. +$2.0M overall. HYPE is the interesting one: -$0.9M. Overwriters sold the $71 top almost perfectly, and dip buyers have been fighting the tape ever since.

The word ‘dryad’ is derived from the Greek word ‘drus’ meaning oak (origin of 'Druid'). Dryads were originally oak tree spirits, although over time they have come to represent all types of tree spirits and nymphs.   art: Dryad by Lorenzo Mastroianni

$XAUT (@tethergold) is now live on Derive | spot, perps, and options, tradable on the orderbook and via RFQ. This is step one into listing RWA options - more tba. Initial expiries: Jul 24, Jul 31, Aug 7, Aug 28, Sep 25

Not all Yields are created equal. PST derives its yield from real world payment financing. One which is more stable and sustainable while remaining fully transparent and verifiable onchain. As @DrPayFi calls it: very strong yield premium, perfect for looping strategies.

Carl Friedrich Gauss (1777–1855) derived the exact value of cos(2π/17) This remarkable expression was part of his proof that a regular 17-gon is constructible with compass and straightedge; one of the great achievements in the history of mathematics. cos(2π/17) = [-1 + √17 + √(34 - 2√17) + 2√17 + 3√17 - √(34 - 2√17) - 2√34 + 2√17] / 16

World LibertyFi has generated nearly $12M in fees in the past month. Derived from yields from USD1 backing assets investments, DefiLlama data shows that @worldlibertyfi has generated $11.74M in rev/fees in the past 30 days alone. At the same time, $WLFI's native stablecoin, $USD1, holds a market cap of around $4.76B, making it larger than other alt stablecoins like @Ripple's $RLUSD and @PayPal's $PYUSD.

Weekly Buyback #76# Complete 131,584 DRV was purchased at an average price of $0.13. Derive DAO has bought back a total of 26,465,908 DRV. Buybacks are allocated 35% of protocol fees.