TABLE OF CONTENTS
What is MYX Finance ?
MYX Finance is a DEX specialized in perpetual contracts, designed to offer an alternative to centralized platforms. Its objective is clear : to provide traders with zero-slippage execution, highly competitive fees, and a seamless experience. Unlike traditional AMMs or order books, MYX relies on a proprietary mechanism designed to optimize liquidity.
The major innovation of MYX Finance is its chain-abstracted model. Through this approach, users can access assets from dozens of different blockchains without complex bridges or manually switching networks. This simplification reduces friction, particularly for novice traders.
Recently launched, the protocol has quickly gained visibility in the DeFi ecosystem. It attracts both experienced traders and beginners thanks to an interface without gas fees, private keys, or mandatory signatures. By removing these constraints, MYX approaches the ergonomics of CEX platforms while retaining the advantages of a decentralized platform.
How does MYX Finance work ?
MYX Finance’s operation is based on an innovative architecture that combines several trading mechanisms and risk management approaches. The central element is the Matching Pool Mechanism (MPM), a proprietary engine that replaces traditional order book or AMM models. This system aggregates liquidity more efficiently and enables zero-slippage order execution, even for large volumes.
MYX also adopts a Peer-to-Pool-to-Peer (P-Pool-P) model. This framework directly connects traders, liquidity pools, and counterparties, ensuring constant and deep liquidity across its perpetual markets. This is a major advantage compared to traditional DEXs where market depth varies significantly depending on the pairs.
To secure its ecosystem, the protocol integrates advanced risk management tools. These include :
Time Traveller : retroactive execution in case of market anomalies.
Live Surveillance : real-time monitoring of assets and liabilities.
Auto-Deleveraging (ADL) : automatic reduction of open interest during volatility spikes.
Risk Reserve : reserve funds to cover unexpected losses.
These mechanisms enhance the stability and trust in the protocol.
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MYX Token : Price, Utility and Tokenomics
The MYX token is at the center of the MYX Finance ecosystem. It combines utility, governance, and incentive functions to support the development of the protocol and align user interests. Since its launch, it has experienced rapid adoption, reinforced by the growth of the perpetual DEX.
What is MYX ?
The MYX is a utility token issued on the BNB Smart Chain. Its total supply is fixed at 1 billion tokens, with a portion already in circulation. The project uses it as an engine for growth and community engagement. MYX connects the various actors in the ecosystem : traders, liquidity providers, and the development team.
Its design is based on a model built for sustainability. The distribution includes allocations for the team, investors, treasury, and rewards for the community. This structure aims to balance incentives while ensuring progressive adoption.
What is the MYX crypto used for ?
The MYX crypto has several concrete use cases :
Governance : token holders vote on protocol-related proposals (adding features, evolution strategy, technical choices).
Fee discounts : the VIP system offers advantageous conditions to traders who hold or stake MYX.
Staking and rewards : users who lock their tokens benefit from yields and participate in securing the protocol.
Internal payments : MYX is also used to access exclusive services or features within the DEX.
These utilities strengthen its role in creating long-term value for the protocol.
MYX price and evolution
Currently, the price of MYX is trading between $16 and $17, showing a gain of +1283% over 7 days in September 2025. The MYX cryptocurrency has a market capitalization of approximately $3.6 billion, with around 197 million tokens in circulation.
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MYX Finance vs its competitors (Hyperliquid, dYdX, GMX…)
The perpetual DEX market is dominated by a few major protocols that concentrate liquidity and users. Among them, Hyperliquid, dYdX, and GMX are the most well-known. Each offers a different approach to decentralized trading.
MYX Finance seeks to differentiate itself through two key innovations : multi-chain abstraction and zero-slippage trading. While its competitors prioritize either liquidity (dYdX) or yield for LPs (GMX), MYX attempts to combine accessibility, efficiency, and market diversity.
Comparison table : MYX vs its competitors
| Protocol | Main Mechanism | Strengths | Main Limitations |
| MYX Finance | Matching Pool + P-Pool-P | Zero-slippage trading, multi-chain abstraction, simplified experience | Young project, still fragile reputation |
| Hyperliquid | On-chain order book | Very high volumes, close to CEXs | No multi-chain abstraction |
| dYdX | Order book + Cosmos | Strong liquidity, historical adoption | Technical complexity, no multi-chain support |
| GMX | AMM + Real Yield | Direct revenue for LPs, attractive tokenomics | Less asset diversity, lower volumes |
| Perpetual Prot. | vAMM AMM | Simple interface, accessibility | Limited liquidity, low market share |
The team behind MYX Finance
The success of a DeFi protocol largely depends on the competence and credibility of its team. MYX Finance is led by Mark Zhang (Yihao Zhang), founder and CEO. Before launching MYX, he held leadership positions at top CEXs such as Huobi and OKEx, giving him solid expertise in derivatives products and trading systems.
Around him, the team brings together profiles from traditional finance, blockchain, and centralized exchanges. This diversity allows them to combine an innovative vision with a deep understanding of market mechanisms.
In November 2023, MYX raised several million dollars in a funding round led by Sequoia China, with participation from investors such as Consensys and Hack VC. This strategic support confirms the confidence of major ecosystem players in the project’s viability.
The team’s experience and the presence of institutional investors strengthen MYX Finance’s credibility, even though the protocol remains young and still needs to prove its ability to establish itself sustainably in the market.
Advantages and Disadvantages of MYX Finance
Like any DeFi protocol, MYX Finance presents notable strengths but also limitations. Understanding these points is essential to evaluate its relevance compared to other perpetual DEXs.
Advantages of MYX Finance
Zero-slippage trading : orders are executed at the exact expected price, even for high volumes.
Competitive fees : the VIP system based on the MYX token allows fees close to 0.01%.
Simplified experience : no gas fees, no private keys or complex signatures, making it easier for beginners to adopt.
Multi-chain abstraction : support for assets from dozens of blockchains, significantly expanding the choice of markets.
Advanced risk management tools : mechanisms like Time Traveller, Live Surveillance, and ADL provide better protection for traders and LPs.
Disadvantages of MYX Finance
MYX token volatility : its price experiences extreme variations, with rapid rises followed by violent corrections.
Controversies : accusations of market manipulation and wash trading activities have already raised doubts.
Strong competition : Hyperliquid, dYdX, and GMX have advantages in terms of reputation and volumes.
Protocol youth : MYX still needs to prove itself in terms of security, resilience, and long-term sustainability.
In summary, MYX offers an innovative approach but remains exposed to risks related to its development stage and increased competition in the perpetuals sector.
What future for MYX Finance and the MYX crypto ?
The future of MYX Finance DEX will depend on its ability to maintain its pace of innovation and retain its community. The protocol has already attracted attention with its multi-chain approach and zero-slippage trading, two arguments that position it as a serious competitor to Hyperliquid or dYdX. If these strengths continue to evolve, the MYX crypto could consolidate its role in the DeFi ecosystem.
The team plans to add features such as advanced orders and even more comprehensive risk management tools. These developments aim to bring the experience closer to that of a CEX, while retaining the advantages of decentralization. This would strengthen MYX Finance DEX‘s position among both professional traders and beginners.
Nevertheless, several challenges persist : restoring trust after certain controversies, managing the volatility of the MYX token, and remaining competitive in a market where each protocol innovates rapidly. If these obstacles are overcome, MYX Finance could become a key player in the perpetuals sector and confirm the legitimacy of its MYX token in the long term.
Our review on MYX Finance and its MYX token
MYX Finance DEX stands out with a clear proposition : zero-slippage perpetual trading, reduced fees, and multi-chain integration that expands the range of available assets. Its operation, combining technical innovation and risk management tools, positions it as an emerging player against established competitors such as Hyperliquid or dYdX.
The MYX token plays a central role in the ecosystem and has attracted attention since its spectacular surge in September 2025. This performance illustrates its potential but also highlights strong volatility. In a market where risks are high, it remains essential to remind the importance of caution : each investor must do their own DYOR and only expose amounts they can afford to lose.
