MYX Finance

MYX Price

About MYX Finance (MYX)

MYX Finance is a decentralized perpetual exchange designed to provide high capital efficiency and zero slippage trading for a wide range of digital assets.

• The protocol utilizes a unique Matching Pool Mechanism (MPM) to eliminate slippage by matching long and short positions directly.
• Traders can access up to 50x leverage on perpetual future contracts, primarily using USDC as margin.
• The platform achieves capital efficiency of up to 125x, allowing liquidity providers to maximize returns through specialized vaults.

What Is MYX Finance

MYX Finance is a trading protocol within the Decentralized Finance (DeFi) ecosystem that focuses on the execution of perpetual contracts. Its primary value proposition is the removal of traditional trading barriers such as high slippage and capital inefficiency. Value moves through the system via a peer-to-pool matching model where liquidity providers supply the assets necessary for trading activities.

The MYX token is used as an application utility token within the ecosystem. It serves roles in governance, allowing holders to influence protocol parameters, and as an incentive for participants. As the ecosystem grows, the protocol scales by increasing the depth of its liquidity pools and expanding the variety of supported trading pairs, which in turn increases the utility and demand for the underlying token.

What Makes MYX Finance Unique

• Matching Pool Mechanism (MPM): Unlike traditional automated market makers, MPM matches positions to ensure zero slippage, a term referring to the difference between the expected price of a trade and the price at which the trade is executed.
• High Capital Efficiency: The protocol is engineered to support up to 125x capital efficiency, significantly higher than many competing decentralized perpetual exchanges.
• Broad Leverage Options: Traders can utilize up to 50x leverage, providing substantial exposure to market movements with relatively small amounts of collateral.

What Can You Use MYX Finance for?

• Perpetual Trading: Users can open leveraged long or short positions on various cryptocurrencies to speculate on price movements.
• Liquidity Provision: Investors can deposit assets into Earn Vaults or Trench pools to capture protocol service fees and yield generated from trading activity.
• Referral Rewards: The platform includes a referral system where users can earn rebates by inviting others to trade on the protocol.
• Governance: Token holders can participate in the decision-making process for the protocol's future development and updates.

How Does MYX Finance Work?

MYX Finance operates using a peer-to-pool model centered around its Matching Pool Mechanism (MPM). When a trader opens a position, the protocol matches long and short interests internally. If there is an imbalance, the liquidity pool acts as the counterparty. This system is designed to maintain neutral exposure for liquidity providers while ensuring that traders receive exact oracle prices without the interference of a traditional order book or slippage.

Transaction costs on the platform are handled as protocol service fees rather than network gas, as MYX Finance is an application layer built on top of existing blockchains like BNB Chain. Users must still pay gas fees in the native network token (e.g., BNB) to interact with the smart contracts, but the MYX token itself powers the application-specific incentives.

Team Info and Investors

The development of MYX Finance is supported by a range of prominent venture capital firms and institutions in the cryptocurrency space. Documented investors and partners include ConsenSys, Hack VC, OKX Ventures, Redpoint, GSR, Foresight Ventures, HashKey Capital, and Leland Ventures. While the specific individual backgrounds of the founding team are not detailed in primary documentation, the project operates under a governance structure that aims to transition power to the community of token holders over time.

Where can you buy MYX Finance?

MYX tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade MYX Finance is Gate, where the most active trading pair MYX/USDT has a trading volume of $226,841.19 in the last 24 hours. Other popular options include Bitget and BingX.

What is the daily trading volume of MYX Finance (MYX)?

The trading volume of MYX Finance (MYX) is $7,503,204.90 in the last 24 hours, representing a 10.70% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for MYX Finance (MYX)?

MYX Finance (MYX) reached an all-time high of $19.03 and an all-time low of $0.04701. It’s now trading -99.60% below that peak and 53.90% above its lowest price.

What is the market cap of MYX Finance (MYX)?

Market capitalization of MYX Finance (MYX) is $17,013,139 and is ranked #984 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of MYX tokens (240 Million tokens are tradable on the market today).

What is the fully diluted valuation of MYX Finance (MYX)?

The fully diluted valuation (FDV) of MYX Finance (MYX) is $72,330,823. This is a statistical representation of the maximum market cap, assuming the maximum number of 1 Billion MYX tokens are in circulation today. Depending on how the emission schedule of MYX tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of MYX Finance compare against its peers?

With a price decline of -9.70% in the last 7 days, MYX Finance (MYX) is underperforming the global cryptocurrency market which is up 3.40%, while underperforming when compared to similar Decentralized Finance (DeFi) cryptocurrencies which are up 1.00%.

How to add MYX Finance (MYX) to MetaMask?

Adding MYX Finance (MYX) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import MYX as a token. You can copy MYX’s contract address (0xd82544bf0dfe8385ef8fa34d67e6e4940cc63e16) and import it manually, or if you've installed MetaMask's chrome extension, add MYX to MetaMask with one click on CoinGecko.

Add MYX to MetaMask.