Derive proposes V3 migration to zkVM architecture
Derive has proposed the launch of Derive V3, which will operate on a zkVM architecture settled on the Ethereum mainnet. The migration will transition V2 accounts, balances, positions, and assets to the new V3 genesis state. Following the migration, the Derive Chain will be phased out, and funds will be managed via Ethereum L1 smart contracts with data availability supported by Celestia.
Summaries are written by AI from the original article. Not investment advice.