Organization Name – Myx Finance
Category – 
Banking & DeFi
MYX Finance is a Singapore‑headquartered decentralized perpetual derivatives exchange founded in 2023, designed to blend CEX‑style performance with on‑chain non‑custodial trading. Its flagship… Matching Pool Mechanism (MPM) replaces order books by matching longs and shorts within liquidity pools, enabling traders to open positions instantly—even if no peer counterparty exists—with low slippage and high capital efficiency. When no match is available, the platform’s liquidity pool acts as temporary counterparty; as opposing traders enter the market, the pool exits exposure and recovers capital, minimizing idle assets. Traders can trade perpetual contracts like BTC/USDT with up to 50× leverage, funding fees recalculated hourly to incentivize balance between long and short positions while avoiding dominance of one side. Fees are ultra‑low (~1 bp) with maker rebates, and execution is seamless across chains such as BNB Chain, Linea and Arbitrum. On trading products like BTC/USDT, MYX offers deep liquidity, real‑time price feeds via Pyth Oracle for price fairness, fast trade matching, minimal gas and signature overhead, and capital efficiency unmatched in most DEXs. Users retain full custody of assets, with transactions executed via smart contracts—there’s no central order book or custody risk. Since mainnet launch in early 2024 (specifically Feb 18), the platform grew explosively: achieving $100 million daily volume within 36 days and averaging ~$200 million daily, far outpacing competitors like dYdX and GMX in early traction. Seed funding of $5 million led by investors including ConsenSys, Sequoia China (HongShan), Hack VC and others supported development of key features such as VIP systems, referral networks, copy‑trading, cross‑chain collateral support and planned portfolio margining. In mid‑2025, MYX launched its token via TGE on Binance Wallet (May 6), distributing 90 million tokens and debuting trading pairs like MYX/USDT—leading to tens of millions in daily volume. The Keeper Network staking mechanism introduced token locking and yield, removing circulating tokens and further boosting value. MYX joined BNB Chain Foundation’s $100 M incentive pool through a strategic investment in late‑2023, validating its vision. Token governance is on-chain, enabling holders to vote on parameters like fee tiers, supported collateral, and chain expansion. The platform is audited by security firms and operates multi‑chain abstractions, allowing traders to access perpetual markets across EVM chains. Roadmap priorities include expanding chain-abstracted leverage, launching cross‑margin portfolio support, copy‑trading tools, smoother UI, and non‑EVM chain integrations. As of mid‑2025, MYX has positioned itself as a top-tier capital‑efficient perpetual DEX for pro traders seeking on‑chain custody, zero‑slippage execution, deep liquidity and institutional-grade performance—all while retaining transparency and decentralization. Read More
Banking & DeFi
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