Altcoin Arena: MYX Finance

What Is MYX?

1. What Is MYX?

MYX is a decentralized, non-custodial derivatives exchange that allows users to trade perpetual contracts for any token with an existing Automated Market Maker (AMM) market. Using blockchain technology, it leverages a Matching Pool Mechanism (MPM) to provide efficient liquidity and a seamless trading experience, enabling advanced derivatives trading with lower capital requirements.

2. Why MYX Was Created

Traditional derivatives platforms often demand high capital to provide liquidity, limiting participation and efficiency. MYX was created to reduce liquidity costs, remove technical barriers, and make advanced derivatives trading accessible, offering transparent, on-chain settlement without compromising custody or security.

3. How MYX Works

1. Liquidity Pooling: MYX organizes liquidity through a shared collateral pool using the Matching Pool Mechanism, efficiently matching long and short orders.
2. Chain-Abstracted Wallets: Users can deposit assets from over 20 supported blockchains, enabling trading without bridging or converting tokens.
3. Delegate-Trader Keys: A two-layer account system separates custody from execution, allowing delegated trading authority without manual confirmations.
4. Gasless Transactions: A relayer network covers gas fees, reducing costs and ensuring faster execution during network congestion.
5. Volume-Tiered Fees: Trading fees decrease for higher volume, incentivizing active participation and lowering costs for frequent traders.
6. Cross-Chain Trading: Users can trade assets from different blockchains seamlessly, enhancing liquidity and available trading pairs.

4. Key Features of MYX

• Matching Pool Mechanism for efficient liquidity provisioning
• Support for assets from 20+ blockchains via chain-abstracted wallets
• Delegate-trader keys for simplified order execution
• Gasless transactions through a relayer network
• Volume-tiered fees to reward active traders
• Cross-chain trading for diverse assets and liquidity

5. Who Can Use MYX?

• Retail traders seeking accessible advanced derivatives trading
• Institutional traders needing efficient liquidity and cross-chain capabilities
• Developers integrating MYX into dApps or custom solutions
• Liquidity providers aiming to earn fees from the matching pool

6. What Is the $MYX Token?

$MYX is the native utility token of the MYX platform. It is used for transaction fees, as collateral within the platform, and can be staked to earn a share of redistributed burns. $MYX also enables governance participation, letting holders vote on proposals affecting fees, risk limits, and supported chains. A deflationary mechanism burns a portion of transactions, reducing supply over time. The total supply is capped at 1 billion tokens, with allocations for ecosystem incentives, contributors, investors, community rounds, and foundation reserves.