Onchain derivatives protocol MYX has closed a strategic funding round led by Consensys as it prepares to roll out its much-anticipated V2 upgrade.
The round also saw participation from Consensys Mesh and Systemic Ventures. Following the raise, Consensys has officially become MYX’s largest investor — a move that signals strong institutional confidence in the protocol’s next phase of growth.
A Shift Toward Modular Infrastructure
The fresh capital will support the launch of MYX’s Modular Derivative Settlement Engine, a core component of MYX V2. With this upgrade, MYX is no longer positioning itself as just another vertically integrated decentralized app. Instead, it is transforming into a modular settlement layer that other platforms and products can build on top of.
In simple terms, MYX wants to become the infrastructure layer powering omnichain derivatives — rather than just being a single trading venue.
What Changes With MYX V2?
The V2 upgrade introduces several technical improvements designed to address long-standing pain points in onchain trading.
At the protocol level, MYX integrates account abstraction using EIP-4337 and EIP-7702. It also plugs into Chainlink’s latest permissionless oracle stack. Together, these upgrades aim to reduce common friction points such as delayed listings for long-tail assets, inefficient capital usage, and complicated transaction flows.
One of the headline features is gasless, one-click trading — while still maintaining full non-custodial control for users.
MYX V2 also introduces a Dynamic Margin system that supports leverage of up to 50x, without depending on traditional order book depth. Instead of relying on liquidity stacks that can thin out during volatile periods, MYX anchors pricing directly to oracle feeds. This approach removes slippage for large orders and significantly lowers execution risk, especially for professional traders moving size.
Redefining Execution Quality
In traditional onchain perpetual markets, traders often face a tough trade-off: access versus execution quality. Thin order books can lead to slippage, forcing traders to split positions or accept unfavorable pricing.
MYX says V2 removes that trade-off entirely.
Because pricing is anchored to oracle data rather than temporary market depth, traders can open and close positions at predictable prices — even in new or volatile markets. There’s no need to wait for deeper liquidity, ladder into positions, or absorb slippage when entering larger trades.
According to the team, this model delivers materially lower effective trading costs compared to underlying spot markets. It also offers immediate exposure to emerging assets and maintains consistent execution during periods of market stress.
Importantly, these mechanics aren’t dependent on market makers or discretionary interventions. They are governed by deterministic economic models, robust margin systems, and conservative security assumptions designed to hold up under real-world trading conditions.
With fresh backing from Consensys and a major architectural overhaul underway, MYX is positioning itself as foundational infrastructure in the next generation of omnichain derivatives trading.
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