MYX Token MYX Token

$3.10 +2.19% MYX
Volume (24h)
$14,420,237
24h High
$3.60
24h Low
$2.98
Circulating Market Cap
$608,139,342
Total Market Cap
$3,187,832,060
Bid / Ask
$3.10 / $3.11
24h Trades
281,211

What is MYX Finance (MYX)?

MYX Finance is a decentralised perpetual derivatives exchange operating across multiple blockchain networks, including BNB Chain, Arbitrum, Linea, and opBNB. It was launched in 2023 and offers high-leverage on-chain trading of perpetual contracts with up to 125x leverage.

At its core is a proprietary Matching Pool Mechanism (MPM) which replaces the traditional order book model. Instead of matching buyers and sellers directly, MPM aggregates open positions from liquidity providers into a pool that hedges long and short trades internally. This allows for instant execution, zero slippage, and higher capital efficiency.

MYX Finance also supports cross-chain, gasless trading via a unified account system, enabling seamless user interaction across supported networks without wallet switching or network fees.

What is MYX (MYX) used for?

The MYX token is integral to the protocol and ecosystem, serving multiple technical functions:

  • Governance: MYX holders can vote on decisions affecting the development and parameters of the protocol via the MYX DAO.
  • Staking: MYX can be staked to earn rewards and receive a share of protocol revenue.
  • Liquidity Incentives: The token is used to incentivise liquidity provision across the platform’s pools.
  • Node Operation: Operators of Keeper nodes must stake MYX to participate in executing and validating on-chain transactions, which are key to the exchange’s infrastructure.

Who created MYX Finance (MYX)?

MYX Finance was founded by Mark Zhang, who also serves as its CEO. The project has secured investment from firms including HashKey Capital, ConsenSys, and D11 Labs.