Derive Protocol (formerly Lyra), a derivatives protocol, recently announced a significant update regarding the governance proposal and release plan for their token DRV. DRV is expected to be launched in the fourth quarter with a total supply of 1 billion tokens. Notably, users holding LYRA or stkLYRA will have a 1:1 entitlement to apply for DRV, with the number of tokens based on their balance at the snapshot moment. DRV will be issued on the Ethereum mainnet, with most tokens being cross-ported to the Derive L2 network for collection. Furthermore, users can stake collected DRV as stDRV exclusively on Derive L2. Only stDRV holders will have the right to participate in DAO governance. These measures aim to enhance community engagement and decision-making power, further propelling the development of the Derive Protocol.