MYX Finance price

MYX

#1195

MYX is a non‑custodial derivatives exchange that enables on‑chain trading of perpetual contracts for virtually any token with an existing AMM market. The protocol was introduced to lower the capital cost of providing liquidity, remove network‑related barriers for traders, and streamline the trading flow so that advanced derivatives are as accessible as spot swaps.

Core Architecture Liquidity is organised through the Matching Pool Mechanism (MPM). Instead of maintaining individual maker books or constant‑product curves, a shared pool holds collateral supplied by liquidity providers. The smart‑contract engine matches long and short orders against this pool and nets funding transfers at each interval. By concentrating collateral and rebalancing exposures internally, the pool can support open interest that exceeds the funds locked while keeping every matched trade fully collateralised. Trading fees are volume‑tiered and can fall to 1 basis point per side when utilisation is high.

Chain Abstraction and Seamless UX MYX implements a two‑layer account model that separates custody from execution. Users retain control of their funds in standard EOAs or smart wallets but delegate trading authority to a delegate‑trader key generated in‑app. This key signs orders on the user’s behalf, eliminating the need to confirm every transaction. Gas costs are paid by a relayer network and netted in settlement currency, so orders feel instantaneous even on congested networks. Chain abstraction extends this approach to collateral. A chain-abstracted AA wallet recognises assets deposited on 20+ supported chains including Solana. Traders can open positions with any asset without manually bridging tokens or swapping into a platform‑specific stablecoin.

Token Distribution and Governance The fixed supply of MYX tokens is allocated as follows: * 40 % Ecosystem incentives * 20 % Core contributors * 17.5 % Investors * 14.7 % Airdrop * 4 % Initial liquidity provisioning * 2 % Community round * 1.8 % Foundation reserve Holders can stake tokens to earn a share of net trading fees and participate in parameter votes that adjust fee tiers, risk limits, and supported chains. Governance proposals are executed through on‑chain contracts with a public timelock.

Current Status and Roadmap The protocol is live on Linea, Arbitrum, and BNB Chain, and already recognises collateral deposited across more than twenty networks. Near‑term upgrades focus on cross‑margin between markets and full cross‑chain portfolio margining so that gains and losses in one position can offset requirements in another, regardless of the asset’s origin chain. Additional work is under way to automate the market‑creation workflow further and to expand chain abstraction to non‑EVM ecosystems such as Solana. By combining liquidity concentration, network‑agnostic collateral, and one‑click order execution, MYX aims to broaden access to sophisticated trading strategies without compromising user custody or the transparency of on‑chain settlement.