MYX

MYX (MYX Finance) is a decentralized, non-custodial derivatives protocol for onchain trading of perpetual futures contracts. Its core design is the Matching Pool Mechanism (MPM), a peer-to-pool-to-peer model in which a shared pool holds collateral supplied by liquidity providers and the protocol matches opposing long and short positions internally rather than through an order book or a constant-product curve. The stated aims are to reduce or eliminate slippage, stabilise funding rates and raise capital efficiency, with open interest able to exceed locked funds while matched trades remain collateralised. Traders can take positions with leverage of up to 50x, with USDC described as the primary margin asset, and trading fees are volume-tiered, falling as low as 1 basis point per side at high utilisation.

The protocol also applies chain abstraction. A two-layer account model separates custody from execution: users keep funds in externally owned or smart wallets and delegate trading authority to an in-app delegate-trader key that signs orders, while a relayer network pays gas that is netted in the settlement currency. A chain-abstracted account-abstraction wallet recognises collateral deposited across more than twenty networks, including Solana, so traders can open positions without manually bridging or swapping into a platform-specific stablecoin. The protocol is live on Linea, Arbitrum and BNB Chain, with opBNB also cited among supported networks.

The MYX token has a fixed maximum supply of 1 billion and serves as the application's utility and governance asset. Holders can stake to earn a share of net trading fees, vote on parameters such as fee tiers, risk limits and supported chains through on-chain contracts with a public timelock, and access a VIP tier granting automatic fee discounts across supported chains without lock-ups. Published allocation is 40% ecosystem incentives, 20% core contributors, 17.5% investors, 14.7% airdrop, 4% initial liquidity provisioning, 2% community round and 1.8% foundation reserve.

Business model

MYX operates a protocol that charges volume-tiered trading fees on perpetual contract activity, which can fall to 1 basis point per side at high utilisation. Liquidity providers supply collateral to the shared matching pool and earn returns from trading activity, while MYX token holders can stake to receive a share of net trading fees. With V2, the protocol also positions itself as a modular settlement layer that third-party products, trading apps and automation platforms can integrate with rather than a single vertically integrated application.

Revenue is generated from perpetual contract trading fees charged per side on a volume-tiered schedule, a portion of which is distributed to MYX stakers as a share of net trading fees; liquidity providers are compensated from activity routed through the shared matching pool.

Traction

The MYX token trades on multiple centralised and decentralised venues, with data providers reporting aggregation across 27 exchanges and 34 markets and roughly $7.4-7.9 million of 24-hour trading volume, a market capitalisation in the $17-27 million range depending on the tracker's circulating supply figure, a fully diluted valuation near $73 million, total value locked of roughly $103,000 and approximately 59,700 token holders.

Latest developments

In February 2026 MYX announced the completion of a strategic funding round led by Consensys, with participation from Consensys Mesh and Systemic Ventures, making Consensys its largest investor. The proceeds support the rollout of the Modular Derivative Settlement Engine ahead of the MYX V2 launch, which reframes MYX from a vertically integrated dapp into a modular settlement layer with EIP-4337/EIP-7702 account abstraction, Chainlink permissionless oracles, gasless one-click trading and a Dynamic Margin system supporting up to 50x leverage.