Derive DRV

Sell signal activeRank#47in Low payout▼9Score21

Distribution stopped since Nov 4. paid to holders $0 in the week to 2026-11-11 vs $49.8k per week from 2026-08-13 to 2026-11-04 (0%) while REV7 is $111k ($129k the week before); last payout 2026-10-28. Still open: the payout has not recovered. See Signals.

Options, Derive V3, Derive Chain, OP Mainnet +1, 191 days of data

Low payout: less than $100k to holders in 30 days, or payouts on fewer than 8 of the 30 days (for a token that pays in cycles of a week or longer: more than one of the payouts its cycle predicts missed); ranked within this group

Active signals 1

Distribution stoppedsince Nov 4
Paid to holders this week $0, 0% of its usual $50k per week. Revenue this week $111k. Last payout Oct 28.
Payout to holders stopped: revenue this week $111k, 0.9× the week before, paid to holders 0% of its usual week. Still open: the payout has not recovered.

Market cap

$322.5M

price $0.30 · 7d −13.5% · 30d −32.2%

FDV $451.3M (1.4× market cap)

source defillama

Buyback revenue / year

$1.8M

holders revenue of the last 30 days, $146k, × 365 ÷ 30

Buybackbuyback share 33%

Buys back 0.6% of its market cap a year, using 33¢ of every $1 it earns.

Multiple

181×

median of all tokens 20.3×, against 181× here

Run-rate

∞

last 7 days $0 × 52 = $0 a year

What we checked

Valuation
Multiple 181×, 8.9× more expensive than the median of all tokens (20.3×; its category is too small for a peer group). The group's largest earner Hyperliquid trades at 20.2×: 9.0× dearer per dollar returned to holders. On total revenue: 59.2×, 3.3× dearer than the revenue peer median.
Distribution
Buyback: Revenue buys the token on the market; the tokens stay in circulation (treasury, stakers or LPs). Holders got $146k of $448k revenue in 30 days → buyback share 33%. DefiLlama: “Fees going to governance token holders”
Sustainability
Holders were paid on 6 of 30 days (20%); largest single day 38% of the month's holders revenue; paid to holders this week: 0% of the best week in 90 days (more than half below peak). Revenue −13% over 7 days and −21% over 30 days, price −32% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

Distribution stoppedactive since Nov 4; paid to holders $0 in the week to 2026-11-11 vs $49.8k per week from 2026-08-13 to 2026-11-04 (0%) while REV7 is $111k ($129k the week before); last payout 2026-10-28. Still open: the payout has not recovered. See Signals
Payout >50% below peakthis week's holders revenue is 0% of its best week in the last 90 days ($97k)
Small peer group52 peers in universe; median taken from the universe level

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d): $146k / $448k; last 30 closed days
To holders: Buys back 0.6% of its market cap a year
FDV / dilution: $451.3M / 1.4×; FDV ÷ market cap
Price 7d / 30d: −13.5% / −32.2%
Revenue growth 7d / 30d: −13% / −21%; versus the period before
Divergence: 0.00; revenue growth minus price growth, 30d
DEX liquidity: $6.9M; DexScreener, representative pools
24h volume: $3.5M; all markets, CoinGecko
Unlocks 30d: —; no unlock schedule for this token
Revenue multiple: 59.2×; market cap ÷ revenue per year
Fee multiple: 47.9×; market cap ÷ fees per year
Distance to peak: 0%; this week ÷ best week of 90 days
Data since: May 5; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 181× (scored) · peer median 20.3×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
Date	Signal	Price then	After 7d	After 30d	Since	Outcome
November 5, 2026	Distribution stoppedactive	$0.371	—	—	−19%	30-day check: day 7
November 4, 2026	Distribution cutclosed Nov 5: the payout stopped completely (Distribution stopped opened)	$0.324	−4%	—	−7%	30-day check: day 8
October 31, 2026	Day jumpvoided Oct 31: revenue on the day was below the $50,000 minimum for this signal	$0.321	−3%	—	−6%	not counted

Versus peers

universe (whole universe) · 53 tokens (52 with a multiple) · median multiple 20.3× · Hyperliquid is valued 52.5× higher. Per dollar that counts for holders, Derive is 9.0× dearer.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
PaperStrategy	Buyback + burn	0.2×	0.1×	42%	$780k	$1.9M	+17%
Pharaoh Exchange	ve / bribes	0.3×	0.2×	100%	$1.3M	$2.6M	−52%
OTC	Buyback + burn	0.5×	0.2×	43%	$292k	$1.9M	+111%
RamsesX	Mixed	0.7×	0.5×	97%	$368k	$2.2M	+8%
nest	Distribution	0.8×	0.4×	100%	$869k	$4.4M	+32%
Sapling	Buyback + burn	0.9×	0.7×	82%	$100k	$1.1M	−30%
ORE Protocol	Buyback + burn	1.0×	1.0×	99%	$4.3M	$51.7M	+37%
StonkFun	Buyback + burn	1.7×	1.0×	60%	$1.7M	$34.5M	−88%
up	ve / bribes	2.0×	1.0×	100%	$313k	$3.9M	−68%
Fake World Assets	Buyback + burn	2.4×	1.7×	80%	$149k	$3.9M	−70%
THORSwap	Mixed	3.7×	2.1×	75%	$312k	$10.4M	+55%
Marinade	Buyback	5.1×	2.5×	50%	$193k	$11.9M	−13%
Chainflip	Buyback + burn	5.4×	5.4×	100%	$520k	$34.4M	+59%
Pons	Buyback + burn	5.7×	5.7×	118%	$1.7M	$99.8M	−84%
Pump	Buyback	5.8×	2.6×	44%	$21.9M	$1.54B	−24%
Usual	Mixed	6.3×	3.3×	70%	$378k	$21.6M	+80%
Aero	ve / bribes	8.7×	4.0×	96%	$7.4M	$372.0M	−6%
Tornado Cash	Mixed	9.6×	7.2×	100%	$278k	$24.4M	−21%
SSV Network	Mixed	12.4×	9.3×	100%	$275k	$31.1M	−10%
Spark	Buyback	13.0×	3.7×	29%	$340k	$53.8M	+133%
Lighter	Buyback	14.6×	11.8×	81%	$4.4M	$775.1M	+14%
edgeX	Buyback	16.0×	7.0×	44%	$622k	$120.8M	−43%
Lido	Buyback	18.6×	6.2×	34%	$0	$255.2M	+6%
Geodnet	Buyback + burn	18.8×	15.1×	80%	$744k	$170.5M	0%
PancakeSwap	Buyback + burn	19.5×	12.8×	65%	$2.4M	$563.6M	−29%
Hyperliquidleader	Buyback + burn	20.2×	20.2×	100%	$68.8M	$16.94B	−3%
Bankr	Distribution	20.3×	8.8×	86%	$237k	$25.1M	−85%
deBridge	Buyback	20.8×	15.6×	75%	$340k	$86.1M	−13%
ApeX Protocol	Mixed	21.2×	15.9×	100%	$145k	$28.2M	−21%
Yield Basis	ve / bribes	22.1×	7.8×	100%	$148k	$14.0M	41.0×
Sky	Mixed	26.7×	8.4×	42%	$5.5M	$1.34B	−3%
Raydium	Buyback	27.1×	16.8×	62%	$1.3M	$425.4M	−65%
Curve Finance	ve / bribes	29.3×	11.1×	94%	$2.6M	$374.4M	+44%
Collector Crypt	Buyback + burn	35.3×	0.9×	3%	$392k	$168.2M	−5%
GMX	Distribution	37.0×	13.5×	73%	$354k	$79.6M	+15%
Maple Finance	Buyback	37.2×	7.4×	20%	$326k	$147.5M	+14%
Uniswap	Buyback + burn	37.3×	37.3×	100%	$8.2M	$3.71B	−20%
Convex Finance	ve / bribes	47.5×	13.8×	95%	$881k	$155.5M	0%
Orca	Buyback	47.8×	7.9×	16%	$130k	$75.6M	−36%
Aster	Buyback + burn	50.2×	∞	—	$2.8M	$1.69B	—
Jupiter	Buyback	50.2×	15.9×	32%	$1.4M	$856.4M	−32%
dYdX	Distribution	51.6×	25.8×	100%	$240k	$75.2M	−15%
Venice	Buyback + burn	68.7×	68.7×	100%	$1.1M	$941.4M	+22%
Kinetiq	Mixed	84.8×	37.3×	59%	$133k	$103.2M	−37%
Railgun	Distribution	86.5×	28.1×	66%	$202k	$116.7M	−9%
Pendle	ve / bribes	104×	37.2×	72%	$411k	$260.0M	+39%
Render Network BME	Burn	122×	86.6×	95%	$751k	$832.8M	+240%
Chainlink	Buyback	152×	147×	100%	$4.3M	$7.66B	−2%
Meteora	Distribution	180×	5.2×	18%	$458k	$161.9M	−60%
Derivethis token	Buyback	181×	59.2×	33%	$146k	$322.5M	−21%
NEAR Protocol	Buyback	206×	194×	94%	$1.8M	$4.51B	−18%
Liquity	Distribution	1.2k×	8.2×	80%	$128k	$15.8M	+409%
BONK.fun	Mixed	∞	11.7×	95%	$1.5M	$233.7M	−67%

Score build-up21 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

21of 100#47▼9top 63% one or more parts are the neutral 50

Valuation 8.8Momentum 8.6Divergence 0.0Quality 3.3= 20.7

Valuation35%

25Valuation 25.0: HR half 0.0 (multiple 181.10×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 50.0 (revenue peer group fell back to the universe → neutral 50; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%capped

34Momentum 34.4: m = 0.5·g7 −0.145 + 0.3·(ln(day jump 0.72) clamped ±1.5 = −0.327) + 0.2·g30 −0.238 = −0.218; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%capped

0Divergence 0.0: d = g30 − p30 = 0.000; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

17Quality 16.6: mean of days HR>0 20% → 0.0 (0 at ≤30%, 100 at ≥90%), largest day 38% of HR30 → 49.8 (0 at ≥60%, 100 at ≤15%), distance to peak 0.00 → 0.0 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

HR7 is below 50% of its 90-day peak: momentum and divergence are capped at 50. This is not a penalty; the distance already counts in quality.

Penaltiesnone

No penalty applies — 10 rules checked, 3 wait for research data

Where the numbers come from

Revenue source: 6 active children; DefiLlama adapter per child
Price and market cap: defillama / defillama; latest fetch
Scored on: November 11, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token6 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

Derive Options
Options · Derive Chain
type unclear · source text
“Fees going to governance token holders”
Fees going to governance token holders
adapter on GitHub ↗
Derive V2
Derivatives · Derive Chain
type unclear · source text
“Fees going to governance token holders”
Fees going to governance token holders
adapter on GitHub ↗
Derive V3 Options
Options · Derive V3
type buyback · source label
“Token Buy Back: USDC spent buying DRV on the Derive orderbook and, during the v3 migration, on CoW Swap.”
DRV bought back with a share of fees from all Derive markets (options, perps and spot), held by the Derive DAO treasury.
Token Buy Back
USDC spent buying DRV on the Derive orderbook and, during the v3 migration, on CoW Swap.
adapter on GitHub ↗
Derive V3 Perps
Derivatives · Derive V3
type unclear · source text
“Fees going to governance token holders”
Fees going to governance token holders
adapter on GitHub ↗
Derive V3 Spot
Dexs · Derive V3
type unclear · source text
“Money going to governance token holders”
Money going to governance token holders
adapter on GitHub ↗
Derive V1
Options · OP Mainnet, Arbitrum
type unclear · source text
“Fees going to governance token holders”
Fees going to governance token holders
adapter on GitHub ↗