MYX has completed a funding round led by Consensys ahead of the launch of MYX V2. The deal also included participation from Systemic Ventures and Consensys Mesh.
MYX CEO Ryan noted that version V2 combines EIP-7702 and permissionless oracles. This should make onchain perpetual trading more convenient while maintaining decentralized control over assets.
MYX V2 also implements account abstraction through EIP-4337 and EIP-7702 at the protocol level. In addition, a new permissionless oracle infrastructure from Chainlink is used. The company believes that this architecture removes long-standing limitations of onchain trading, such as slow listing of niche assets, inefficient capital usage, and complex transaction scenarios.
The closing of the round will support the launch of the Modular Derivative Settlement Engine. The platform is taking a step toward core infrastructure for omnichain derivatives. MYX positions itself as a modular settlement layer on which other projects can build their products.
This approach reflects a broader trend in the industry. The market is gradually moving away from isolated DEX to shared clearing and settlement infrastructure. This helps avoid fragmentation of derivatives liquidity across different networks.
MYX V2 Offers One-Click Gas-Free Trading
The MYX team stated that version V2 supports trading with no fees. At the same time, users retain non-custodial control over their assets. A Dynamic Margin system has also been implemented, supporting leverage up to 50x without relying on the depth of a traditional order book.
The architecture allows for pricing tied to oracles. This eliminates slippage on large orders and reduces execution risks for professional traders.
“MYX V2 is more than just an exchange. It’s a full-fledged engine. We are grateful to investors for supporting our vision for new settlement standards for perpetuals,” said Ryan, CEO of MYX.
MYX aims to remove the trade-off between accessibility and execution quality that onchain traders face. The platform separates liquidity depth from execution quality. Now, traders don’t have to wait for order books to fill, split positions, or deal with slippage on large trades, especially in new or volatile markets.
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Pricing is directly tied to oracles, not to current market depth. This allows positions to be opened and closed at predictable prices regardless of local liquidity.
For active and professional traders, this means faster entries, more precise exits, and reduced execution risks without loss of leverage or capital efficiency. The company claims that actual trading costs may be lower than on the spot market. Users get quick access to new assets and stable execution even during periods of high volatility.
These mechanisms do not depend on market makers or manual intervention. They are based on deterministic economic models, a well-designed margin system, and conservative safety assumptions tailored for real trading conditions.
Consensys Views MYX Approach as a Sign of Market Maturity
Ray Hernandez, senior vice president of corporate development at Consensys, noted that the MYX strategy reflects a new stage in the development of onchain markets. According to him, as the industry matures, composability and transparent settlements at the infrastructure level are coming to the forefront.
He also emphasized that derivatives infrastructure should move away from isolated venues and toward modular and shared settlement layers.
In Hernandez’s opinion, a sustainable and capital-efficient settlement system is the foundation for long-term development and scaling of the Ethereum financial ecosystem. The launch of V2 strengthens MYX’s positioning as an infrastructure solution for a wide range of market participants.
Professional traders gain access to high leverage and execution without slippage. Institutional investors can track the formation of a new clearing and settlement layer within the Ethereum derivatives ecosystem. B2B partners, including automation platforms and trading apps, can connect directly to perpetual liquidity without the need to build their own settlement infrastructure.
MYX claims fast access to new assets, while V2 is primarily aimed at retail speculative trading. The platform is designed for sustainable derivatives activity through a thoughtful settlement system, reliable oracles, and composable integrations.
MYX V2 aims to play a key role in the next stage of onchain derivatives development. The project is backed by Consensys and is betting on an infrastructure approach to trade execution.
