MYX, an onchain derivatives protocol, has completed a strategic funding round led by Consensys, with participation from Mesh, Systemic Ventures, and Ethereal Ventures. This investment positions Consensys as the largest backer of MYX Finance.
The capital infusion will support the deployment of the Modular Derivative Settlement Engine, establishing MYX as a core infrastructure layer for omnichain derivatives.
MYX is set to launch its V2 upgrade, transitioning from a standalone exchange to a modular settlement layer. This allows other platforms to build on its infrastructure, aiming to prevent liquidity fragmentation across blockchains.
Key features of V2 include gasless one-click trading and a Dynamic Margin system offering leverage up to 50x. The upgrade also integrates EIP-4337, EIP-7702, and Chainlink's oracle stack to simplify trading of long-tail assets and optimize capital efficiency.
"MYX V2 is more than just an exchange - it’s an engine," stated MYX CEO Ryan. "Integrating EIP-7702 and permissionless oracles means we can make onchain perps trading seamless while preserving decentralized sovereignty."
Consensys, a prominent provider of Ethereum development tools and wallet infrastructure, views this investment as a strategic move towards evolving derivatives infrastructure beyond siloed venues to modular, shared settlement layers. Ray Hernandez, Senior VP of Corporate Development at Consensys, emphasized the importance of "resilient, capital-efficient settlement infrastructure" for the scalability of Ethereum's financial ecosystem.