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A Major Shift for MYXMYX V2: Technical UpgradesDecoupling Liquidity from Execution
Leading onchain derivatives protocol $MYX has closed a strategic funding round led by Ethereum heavyweight Consensys (of Metamask-fame), positioning the firm as $MYX’s largest investor as it prepares for a fundamental architectural shift.
The funding, which included further participation from Consensys Mesh and Systemic Ventures, arrives prior to the rollout of $MYX V2. The V2 update marks the platform’s transition from a standalone dapp to a ‘modular derivative settlement engine’; a move designed to provide core infrastructure for the growing omnichain derivatives market.
A Major Shift for $MYX
The launch of $MYX V2 represents a strategic pivot toward modularity.
Rather than operating as a siloed decentralized exchange (DEX), $MYX is positioning itself as a clearing and settlement layer that other platforms can integrate. This new approach aims to solve the chronic issue of liquidity fragmentation across the decentralized finance (DeFi) ecosystem (something widely discussed for years in the industry).
“As onchain markets mature, derivatives infrastructure needs to evolve beyond siloed venues toward modular, shared settlement layers,” said Ray Hernandez, Senior VP of Corporate Development at Consensys.
“We believe that resilient, capital-efficient settlement infrastructure is foundational to the long-term health and scalability of Ethereum’s financial ecosystem. $MYX’s approach reflects this shift, prioritizing composability and transparent settlement at the infrastructure layer.”
$MYX V2: Technical Upgrades
In order compete with the speed and ease of centralized exchanges, $MYX V2 incorporates several technical upgrades:
- Account Abstraction: By integrating EIP-4337 and EIP-7702, the protocol enables gasless, one-click trading, dramatically lowering the barrier for entry for professional users.
- Permissionless Oracles: Using Chainlink’s latest stack, the protocol can rapidly list long-tail assets, bypassing the slow listing processes that often plague onchain platforms.
- Dynamic Margin System: The new architecture supports up to 50x leverage without having to rely on traditional order book depth.
Decoupling Liquidity from Execution
One of the V2 engine’s biggest claims is the ability to offer oracle-anchored pricing that eliminates slippage for large orders. By decoupling execution quality from local liquidity depth, $MYX aims to allow professional traders to enter and exit large positions at predictable prices, even in volatile or newly emerging markets.
“$MYX V2 is more than just an exchange – it’s an engine,” said $MYX CEO Ryan.
“Integrating EIP-7702 and permissionless oracles means we can make onchain perps trading seamless while preserving decentralized sovereignty.”
The protocol’s design focuses on institutional and professional utility, aiming to reduce effective trading costs below those of underlying spot markets. By serving as a “plug-and-play” settlement rail, $MYX hopes to attract B2B partners, such as trading apps and automation platforms, that require deep perpetual liquidity without the need to build their own backend infrastructure.
