MYX Finance Innovative Perpetual Contract Trading Platform Analysis

Introduction to MYX Finance and its Core Mechanism

MYX Finance breaks the traditional order book matching model by using the Matching Pool Mechanism to automatically match long and short orders, with the liquidity pool serving as the passive counterparty to achieve instant execution, eliminating slippage risk. All contracts on the platform use USDC as collateral, supporting up to 50x leverage, allowing traders to enjoy high capital efficiency and smooth operations.

Trading Process and Order Types

MYX offers order types similar to centralized exchanges, including opening and closing positions for long and short trades, making the trading experience more intuitive for Web3 users. All trades are automatically adjusted for supply and demand through the matching pool, maintaining market balance and enhancing trading depth and liquidity.

Liquidity Pool and Risk Control

The liquidity pool acts as a counterparty in the MYX ecosystem, temporarily holding the positions of the counterpart and locking collateral to ensure security. Subsequently, LPs (Liquidity Providers) will gradually transfer positions to other users, utilizing funding rates to promote long-short balance, which not only ensures liquidity but also brings additional returns to LPs.

Automatic Deleveraging (ADL) Mechanism

In the face of severe market volatility, MYX has launched an automatic deleveraging system that forcibly liquidates the most profitable positions, proportionally reducing contract holdings to prevent systemic risks, ensure the stable operation of the platform, and guarantee the safety of trading in a high-leverage environment.

Keeper Network and decentralized fair matching

MYX replaces centralized matching with Keeper Network, executing transactions through multiple guardian nodes to ensure that the transaction process is open, transparent, and that prices are real and cannot be manipulated. Nodes participate in elections by staking MYX tokens and receive fees and rewards, achieving community self-governance.

Seamless trading experience and token economy

MYX has launched the Seamless Key technology, eliminating wallet signatures and Gas fees, making the trading process more akin to the convenience of centralized exchanges. The token MYX is used for ecosystem incentives and governance, with a total supply of 1 billion, of which 54.7% is allocated for community and ecosystem development to ensure the platform’s long-term healthy growth.

Summary

MYX Finance is reshaping the decentralized derivatives market through technological innovation, not only addressing DEX trading slippage and fairness issues but also combining the smooth user experience of CEX. As the platform ecosystem continues to grow, MYX is expected to become an important cornerstone of on-chain derivatives trading.