MYX Finance

Description

MYX is a non‑custodial derivatives exchange that enables on‑chain trading of perpetual contracts for virtually any token with an existing AMM market. The protocol was introduced to lower the capital cost of providing liquidity, remove network‑related barriers for traders, and streamline the trading flow so that advanced derivatives are as accessible as spot swaps. Core Architecture Liquidity is organised through the Matching Pool Mechanism (MPM). Instead of maintaining individual maker books or constant‑product curves, a shared pool holds collateral supplied by liquidity providers. The smart‑contract engine matches long and short orders against this pool and nets funding transfers at each interval. By concentrating collateral and rebalancing exposures internally, the pool can support open interest that exceeds the funds locked while keeping every matched trade fully collateralised. Trading fees are volume‑tiered and can fall to 1 basis point per side when utilisation is high.