Derive and Synthetix have withdrawn their 27 million USD merger proposal amid community pushback over merger valuation concerns and potential SNX token dilution. This decision marks a shift as both firms opt for independent paths in their operations.
The cancellation reflects a broader challenge in decentralized finance, where community sentiment is crucial. The CEO of Synthetix stated that the anticipated community support did not materialize, leading to a reconsideration of the merger.
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