TechFlow reports that the decentralized derivatives protocol MYX has announced the official launch of its mainnet. Leveraging its proprietary MPM mechanism, MYX achieves zero-slippage trading and highly efficient long/short position matching, significantly enhancing capital efficiency and fund turnover—performance comparable to centralized exchanges. During the testnet phase, MYX successfully attracted 60,000 users, demonstrating strong market appeal. Notably, the mechanism delivers substantial returns for liquidity providers (LPs), outperforming similar products in the sector. This achievement highlights MYX’s exceptional capability in building a secure, efficient, and transparent trading platform, while showcasing significant profitability potential, aiming to redefine decentralized derivatives protocols.
With the mainnet launch, MYX will introduce a Gem system, under which trading users will earn Gems according to set rules. These Gems will serve as key eligibility tokens for future airdrop programs.
Previously, MYX successfully raised $5 million in seed funding led by HongShan, with participation from prominent investors including Consensys, Hack VC, OKX Ventures, Foresight Ventures, Redpoint China, HashKey Capital, GSR Markets, Alti5, Leland Ventures, Cypher Capital, Bing Ventures, and Lecca Ventures.
