Program Purpose

The Staking Rewards Program is designed to reward DRV holders for staking their tokens on Derive. By converting your DRV into stDRV and holding stDRV, you can earn weekly rewards, enjoy fee discounts, and choose flexible unstaking options.

Program Scope

Staking: Earn rewards when you stake your DRV tokens, which are converted to stDRV at a 1:1 ratio.
Fee Discounts: In addition to earning rewards, stDRV holders enjoy fee discounts on the platform.

Reward Tokens

Rewards are paid out in stDRV tokens.
The weekly reward amount (currently 250,000 stDRV per week, subject to change) is updated regularly and can be viewed at derive.xyz/drv.

Eligibility

The program is open to all DRV holders, simply stake your DRV to participate.

How To Earn Rewards

Staking Your DRV: Convert your DRV to stDRV at a 1:1 ratio by staking on the platform.
Accumulating Rewards: Once you hold stDRV, you will earn weekly rewards proportional to your share of the total staked amount. Rewards are calculated at daily intervals and then aggregated for weekly distribution.

Fee Discounts

In addition to rewards, stDRV holders receive fee discounts on transactions across the platform. These fee discounts are from net fees and represent how much in fees will be discounted for a user for a single trade.

	28-day Volume		28-day Volume Share		stDRV Holdings	Perp Maker Fee	Perp Taker Fee	Option Maker Fee	Option Taker Fee	Spot Maker Fee	Spot Taker Fee
Discounted Fees	≥ 200M	OR	≥ 7.5%	AND	≥ 500,000 stDRV	0.00%	0.015%	0.00%	0.015%	0.00%	0.050%
Discounted Fees	≥ 200M	OR	≥ 7.5%	OR	≥ 500,000 stDRV	0.00%	0.020%	0.00%	0.020%	0.00%	0.050%
Discounted Fees	≥ 100M	OR	≥ 5%	OR	≥ 250,000 stDRV	0.00%	0.025%	0.00%	0.025%	0.050%	0.070%
Discounted Fees	≥ 25M	OR	≥ 2%	OR	≥ 100,000 stDRV	0.00%	0.030%	0.00%	0.030%	0.100%	0.100%
Base Fees	< 25M					0.01%	0.030%	0.01%	0.030%	0.150%	0.150%

Reward Distribution

Rewards are calculated, audited, and paid out on a weekly basis.
Typically, rewards are distributed one week after the reward epoch ends.

Staking Mechanics and Unstake Options

Staking Conversion: DRV staked is converted into stDRV at a 1:1 ratio.
Unstake Options:
- 28-Day Unlock: Unstake your tokens with a 28-day unlock period at a 1:1 ratio.
- Instant Unlock: Unstake your tokens instantly, subject to a 20% haircut.

Getting Started

Stake Your DRV: Visit the staking interface on Derive to convert your DRV to stDRV.
Track & Claim Your Rewards: Monitor your staking rewards and claim them at derive.xyz/drv.
Enjoy reduced fees: As a stDRV holder, benefit from reduced fees across the platform.