Synthetix terminates $27 million Derive acquisition due to community opposition
According to online reports, Cointelegraph reported that decentralized financial platform Synthetix canceled its $27 million acquisition of crypto options platform Derive due to negative feedback from the community. Members of the Derive community expressed concerns about the token exchange ratio and the overall revenue of the acquisition on the platform. The acquisition plan was originally planned to exchange SNX and DRV tokens at a ratio of 1:27.
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