[Derive Co-Founder Proposes a 50% Increase in DRV Token Supply] According to a report by Jinse Finance, Derive co-founder Nick Forster has proposed increasing the supply of the native token DRV for the on-chain options exchange to retain core contributors and secure deals with institutional partners. The proposal was published on Friday, September 12. As outlined in the proposal, Forster suggests issuing an additional 500 million DRV tokens, increasing the total supply by 50%. These tokens would be allocated to the Derive Foundation (to be renamed from the original Lyra Foundation to reflect the protocol's former name). The proposal estimates that existing holders could face a maximum annual dilution of 8.25% over the next four years. In the proposal, Forster wrote: 'Neither the foundation nor the BVI subsidiary has sufficient token budgets to execute strategic transactions at the scale required to align interests and drive protocol adoption.' Additionally, the proposal revealed that Derive has severed ties with team members and investors who supported a merger with Synthetix. The merger plan was jointly called off in May of this year after Derive investors criticized it for undervaluing the on-chain options platform.