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.

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.