MYX Secures Strategic Funding Round Led by Consensys
MYX, a pioneering onchain derivatives protocol, recently announced the successful completion of a strategic funding round. Consensys, a prominent blockchain technology company, took the lead in this investment, joined by Mesh, Systemic Ventures, and Ethereal Ventures.
The investment from Consensys solidifies their position as the largest supporter of MYX Finance. This strategic partnership paves the way for significant developments within the derivatives protocol.
The funding injection will specifically aid in the deployment of the Modular Derivative Settlement Engine, positioning MYX as a pivotal infrastructure layer for omnichain derivatives.
Exciting developments are on the horizon for MYX, with the upcoming launch of its V2 upgrade. This transition will transform the protocol from a standalone exchange to a modular settlement layer, allowing other platforms to seamlessly build on top of it and prevent liquidity fragmentation across multiple chains.
Key features of the new version include gasless one-click trading and a Dynamic Margin system that supports leverage up to 50x, catering to the diverse needs of traders.
V2 also integrates EIP-4337, EIP-7702, and Chainlink’s permissionless oracle stack, streamlining trading processes, optimizing capital utilization, and simplifying transaction workflows.
MYX CEO Ryan emphasized the significance of V2, stating, “MYX V2 is more than just an exchange – it’s an engine. By incorporating EIP-7702 and permissionless oracles, we aim to make onchain perpetual trading seamless while upholding decentralized sovereignty.”
Consensys, known for providing essential development tools and wallet infrastructure within the Ethereum ecosystem, has made a strategic investment in MYX. This move signifies a deeper integration between established Ethereum developers and emerging DeFi derivatives platforms.
Ray Hernandez, Senior VP of Corporate Development at Consensys, highlighted the importance of evolving derivatives infrastructure towards shared settlement layers in the onchain market. He stressed the need for resilient, capital-efficient settlement systems to ensure the long-term health and scalability of Ethereum’s financial ecosystem.
He added, “MYX’s approach aligns with this shift, emphasizing composability and transparent settlement at the infrastructure layer, setting new standards for perpetual settlement in the space.”
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