MYX

About MYX

MYX.finance operates as a decentralized derivatives exchange (DEX) that facilitates on-chain perpetual futures trading with up to 50x leverage. The company was founded in 2023 by Mark Zhang and is headquartered in Singapore. MYX has secured a total of $10.18 million in funding across several rounds, including a $5 million seed round in November 2023 with a $50 million valuation, led by HongShan (formerly Sequoia China). Another strategic funding round in March 2025 raised an additional $5 million.

The platform is built to address common issues in the DEX space such as liquidity fragmentation and usability barriers. It operates across multiple blockchains including BNB Smart Chain, Arbitrum, and Linea, employing a chain abstraction layer. This allows users to trade across different chains through a single unified account without needing to switch wallets or pay cross-chain bridge fees. The core of MYX's technology is its proprietary Matching Pool Mechanism (MPM) and a Peer-to-Pool-to-Peer (P2Pool2P) model. This system intelligently matches long and short positions, which enables trading with zero slippage and aims for high capital efficiency. Users retain control over their assets as the protocol is non-custodial, with all transactions handled by smart contracts.

Revenue is generated from a share of transaction fees and funding fees paid by traders. Liquidity providers on the platform, through the MLP (MYX Liquidity Provider) program, earn 40% of these transaction fees and portions of funding fees. The platform supports trading with various assets like USDC, USDT, ETH, and BTC. The business model is designed to provide a trading experience comparable to centralized exchanges (CEXs) in terms of efficiency and user interface, while preserving the security and transparency of a decentralized platform. The platform's native token, $MYX, is used for governance, staking rewards, and scaling the ecosystem.