Swap MYX at the Best Rate

What is MYX?

MYX is a BEP-20 token attached to a derivatives protocol. MYX Finance runs perpetual futures markets where users trade with leverage while keeping custody of their assets, and the token concentrates the protocol's incentives: staking, tiered fee discounts and votes on parameters. The platform opened in February 2024, and the token generation event followed on 6 May 2025.

How MYX works

Instead of an order book, MYX Finance matches long and short exposure against pooled liquidity, a design it calls the Matching Pool Mechanism, aimed at cutting slippage and the capital cost of market making. Trading is offered with leverage of up to 50x, and positions settle on-chain across BNB Chain, Arbitrum and Linea.

The token's published roles are staking for a share of net trading fees, a tiered system that discounts fees based on MYX held, and votes on protocol parameters. Those mechanics are described by the market trackers cited for this page; the protocol's own documentation site was unreachable when this entry was reviewed.

MYX supply and tokenomics

Total supply is fixed at 1 billion MYX on the BNB Chain contract. Reported allocations put roughly 40% with ecosystem incentives, 20% with the team and advisors, 17.5% with investors and 14.7% with airdrop campaigns, with the remainder across liquidity and community rounds, under multi-year vesting. The token generation event ran through Binance Wallet on PancakeSwap on 6 May 2025.

Who builds MYX

MYX Finance was founded by Mark Zhang, previously head of futures products at the Huobi exchange, and incubated by D11 Labs. It raised a 5 million dollar seed round in November 2023 at a 50 million dollar valuation, led by HongShan, formerly Sequoia China, with Consensys and Hack VC among the participants, and a further strategic round in early 2024.

MYX risks and considerations

MYX had a turbulent first year of trading. In September 2025 the price rose more than tenfold within a week while over 89 million dollars of short positions were liquidated between 6 and 10 September, and analysts described the move as a short squeeze in a thin float, since more than 80% of the supply was still locked at the time.

That same week, the analytics firm Bubblemaps traced about 9.8 million MYX, roughly 1% of supply, claimed by around one hundred addresses funded from the same exchange on the same day, and suggested it could be the largest airdrop sybil operation seen to date. MYX Finance denied wrongdoing, saying rewards followed trading volume. Vesting unlocks continue to add circulating supply on the published schedule.