Singapore — Onchain derivatives protocol MYX has closed a strategic funding round led by Consensys, with participation from Consensys Mesh and Systemic Ventures. With the round complete, Consensys becomes MYX’s largest investor, backing the protocol ahead of its upcoming MYX V2 launch.
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The funding supports the rollout of MYX’s Modular Derivative Settlement Engine—a deliberate move away from operating as a standalone perpetuals DEX and toward becoming shared infrastructure for omnichain derivatives.
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From Venue to Settlement Layer
MYX V2 reflects a broader shift underway in onchain markets. Rather than competing as another vertically integrated trading venue, MYX is repositioning itself as a clearing and settlement layer that other protocols, trading apps, and automation platforms can build on.
The goal: prevent derivatives liquidity from fragmenting across chains and applications, and replace siloed perps venues with shared settlement primitives—similar to how traditional finance separates exchanges from clearing houses.
Removing Friction at the Protocol Level
At the infrastructure layer, MYX V2 integrates account abstraction via EIP-4337 and EIP-7702, alongside Chainlink’s latest permissionless oracle stack.
Together, these components are designed to eliminate long-standing pain points in onchain derivatives trading:
Gasless, one-click execution with non-custodial control
Faster listings for long-tail and emerging assets
Simplified transaction flows and improved capital efficiency
MYX V2 also introduces a Dynamic Margin system supporting up to 50× leverage without depending on traditional order book depth.
Oracle-Anchored Execution, Not Liquidity Games
A core design choice in MYX V2 is decoupling execution quality from local liquidity. Instead of routing trades through thin order books—where size often means slippage—MYX anchors pricing directly to oracle feeds.
This allows large positions to be opened and closed at predictable prices, even in volatile or newly launched markets. For professional traders, the result is cleaner execution, lower effective trading costs, and reduced exposure to market-maker behavior during stress events.
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These mechanics are enforced at the protocol level through deterministic models and conservative margin assumptions, rather than discretionary liquidity provision.
“MYX V2 is more than just an exchange—it’s an engine,” said Ryan, CEO of MYX. “By integrating account abstraction and permissionless oracles, we’re making onchain perps seamless while preserving decentralized sovereignty.”
From Consensys’ perspective, the investment aligns with how Ethereum’s financial stack is evolving.
“As onchain markets mature, derivatives infrastructure needs to move beyond siloed venues toward modular settlement layers,” said Ray Hernandez, Senior VP of Corporate Development at Consensys. “Capital-efficient, composable clearing infrastructure is foundational to Ethereum’s long-term scalability. MYX reflects that shift.”
Who MYX V2 Is Built For
The V2 architecture positions MYX as infrastructure rather than a retail trading app:
Professional traders gain access to high leverage with slippage-free execution
Institutional observers can track the emergence of a new clearing layer within Ethereum’s derivatives stack
B2B partners can plug into perpetual liquidity without building their own settlement rails
While MYX supports rapid access to emerging assets, the protocol is designed for sustained, high-volume derivatives activity—not short-term speculative spikes.
