Derive proposes V3 on zkVM and shutting down Derive Chain
- —V3 is a zk exchange on zkVM with settlement on Ethereum L1
- —All V2 positions and balances migrate to the V3 genesis
- —Cross-chain bridge funds are moved to L1
- —Derive Chain will be gradually shut down
Why it matters: The migration will show whether the market is ready for zk exchanges with on-chain settlement instead of their own L1.
Source: PANews