Synthetix terminates $27 million acquisition plan for Derive

Odaily Planet Daily News: Due to negative feedback from the community, the decentralized financial platform Synthetix has cancelled its $27 million acquisition plan for the cryptocurrency options platform Derive. Derive community members expressed concerns about the token exchange rate and the overall revenue of the platform from the acquisition. Some users claim that Derive's income is actually higher than Synthetix's, and there is no clause in the agreement that restricts Synthetix from issuing additional tokens to dilute the value. Ben Celermajer, the strategic director of Synthetix, stated that although some community members believe the transaction is reasonable, the two parties have agreed to terminate the acquisition plan, which was originally intended to promote cooperation, as it did not meet the expected response. （Cointelegraph）