MYX Mainnet Launch Announcement

We are proud to announce that the mainnet of the decentralized derivatives protocol MYX is now officially live! Through our innovative MPM mechanism, we have achieved zero slippage transactions and efficient matching of long and short positions, significantly enhancing capital efficiency and liquidity turnover, performance comparable to centralized exchanges.

During the testnet phase, we successfully attracted 60,000 users, proving our market appeal. It is particularly worth mentioning that this mechanism has provided our Liquidity Providers (LPs) with considerable returns, standing out among similar products. This achievement not only demonstrates our exceptional ability to build a safe and efficient trading platform but also showcases our significant profitability. We aim to redefine the concept of decentralized derivatives protocols.

With the launch of the mainnet, we will introduce the Gem system, where users participating in transactions will receive Gems according to the rules. These Gems will serve as an important voucher for future airdrop plans.

TL; DR

1. During our testnet phase, the unique MPM mechanism successfully attracted 60,000 users, proving our significant market appeal. This mechanism not only significantly enhanced capital efficiency and liquidity turnover, comparable to centralized exchanges, but also provided our liquidity providers with considerable returns. These achievements demonstrate our significant advantages in improving performance and enhancing profitability.
2. With the launch of our mainnet, we will introduce the Gem system, where users participating in transactions will receive Gems according to the rules. These Gems will serve as an important voucher for future airdrop plans. Additionally, we are introducing VIP and referral systems to enhance user experience and provide more real value.
3. We will also launch the ‘Time Traveller V1.0’ feature, aimed at addressing the issue of trade interruptions caused by network issues, keeper failures, and oracle price problems, which can lead to liquidation. ‘Time Traveller V2.0’ will further allow the use of historical prices to process unexecuted orders, protecting user interests and ensuring smooth trading.
4. Our plan includes enhancing trading mechanisms, expanding support for more cryptocurrencies and blockchains, and introducing features such as cross-margin leverage and account abstraction, aimed at simplifying trading processes and reducing transaction fees. We believe these measures will bring more growth and development opportunities for our users and platform, while better meeting user needs.

Testnet Summary:

Phase 1 Testnet Data


Phase 2 Testnet Data


During our two phases of testnets, we achieved significant milestones, successfully attracting 60,000 users to join our community. This impressive number not only reflects the active participation of community members but also clearly shows the strong interest in our platform. Thanks to our unique MPM mechanism, we accomplished a significant enhancement in capital efficiency and liquidity turnover, performing on par with centralized exchanges. This underscores our capability to handle large-scale transactions.

More importantly, our MPM mechanism provided our Liquidity Providers (LPs) with considerable returns, which is particularly outstanding among similar products. This not only demonstrates our efficiency in capital utilization but also brought substantial profits to our users, fully proving our efforts in improving technical performance and maximizing user benefits.

Furthermore, the implementation of our BUG bounty program further highlights our attention to community feedback. By encouraging the participation of community members and developers, we not only enhanced the security of our platform but also optimized the overall architecture. These meticulously planned actions laid a solid foundation for the smooth launch of our MYX mainnet and provided strong support for our continuous development in the decentralized finance sector, showcasing our innovative spirit and unwavering determination in the field of decentralized derivatives protocols.

New Mainnet Features:

We are proud to introduce a series of exciting new features and improvements for our community members, aimed at enhancing user experience and strengthening the performance and security of our platform. Here are the key highlights of our latest rollout:

1. Gem System: We are launching a brand-new Gem System, where all users participating in transactions will receive gems according to set rules. These gems will serve as crucial vouchers in future airdrop plans.
2. Time Traveller Feature: Our mainnet will introduce the ‘Time Traveller V1.0’ feature, specifically designed to address trade interruptions and liquidation issues caused by network problems, keeper malfunctions, and oracle price issues. Moreover, ‘Time Traveller V2.0’ will allow us to use historical prices to process unexecuted orders, further protecting users’ interests and ensuring smooth transactions.
3. KEEPER Status Monitoring: By real-time monitoring of KEEPER’s status, we have ensured the stable operation of our trading system. This measure significantly enhances the reliability of our platform, safeguarding the security of user transactions.
4. Risk Reserve Fund: In response to extreme market conditions, we have established a 2m risk reserve fund. The presence of this safety net offers an additional layer of protection for our users’ assets and transaction safety.
5. Platform Performance Improvements: Through optimizations in our trading architecture, we have successfully increased the transaction processing speed and system responsiveness, providing users with a smoother and more efficient trading experience.
6. Interactive Experience Enhancements: Our user interface has been completely redesigned and is now more intuitive and easier to use. This improvement significantly enhances the convenience of user operations, making it easier for users to trade and manage their assets.

We remain committed to continuous innovation and improvement, ensuring that MYX is not only a powerful decentralized trading platform but also user-friendly, safe, and reliable. Thank you for the support and trust of our community; we look forward to a brighter future together.

BMYX Role:

1. BMYX is not just an early narrative token; it also symbolizes the value recognition of early supporters and their deep involvement in our project.
2. We are actively preparing to infuse BMYX with more functions and value. A series of innovative empowerment plans will be unveiled soon. Stay tuned for more surprises and updates we will be releasing.
3. Looking ahead, BMYX will play an increasingly important role, becoming one of the key vouchers in our airdrop activities, bringing more exciting rewards to holders.

Shells Journey:

1. We are deeply grateful for the enthusiastic support and help from users during the testing phase. Every contribution has been crucial to our development.
2. As a reward for the community members’ long-term support, Shells will be part of our core airdrop program.
3. Please note that only users holding OAT are eligible to participate in our airdrop activities. We will release specific airdrop rules and conditions in the near future.
4. To ensure the fairness and transparency of the airdrop, we will check eligible addresses at the time of the airdrop to protect the rights of all genuine users.

Special Offers:

Currently, all users enjoy VIP3 privileges, which include a fee of 0.04% (taker) and 0.02% (maker). This privilege will continue for one month after the VIP system goes live. Subsequently, we will readjust the trading fee rates based on each user’s trading volume one month after the VIP system launches.

Future Development Plans

1. Expansion of Supported Currencies and Chains: We plan to deploy the MYX protocol across multiple blockchains and expand the variety of supported tokens to increase the diversity and flexibility of transactions.
2. VIP Mechanism: Our upcoming VIP system is focused on reducing transaction fees while aiming to greatly enhance the overall trading experience for users.
3. Invitation System: The soon-to-be-launched invitation mechanism aims to reward users who actively bring in new traders. This mechanism not only enhances the overall activity of the community but also provides tangible rewards for users who contribute positively to the platform’s growth. We encourage users to leverage their social networks to attract more traders to join and collectively promote the platform’s development.
4. Copy Trading Fund: We will introduce a copy trading fund designed to significantly lower the entry barrier, allowing everyone to easily follow the operations of professionals and profit from them, while an on-chain transparency mechanism ensures the authenticity of the strategies.
5. Innovation in Trading Mechanisms: We will introduce features such as cross-margin leverage and account abstraction to simplify the trading process and better meet the trading needs of our users.

Summary

With the successful launch of the MYX mainnet, we have symbolically completed the transition from preliminary testing to full operational functionality, witnessing the true value of community strength. Throughout this process, the support of every community member and user has been a key driving force for us. Your feedback, insights, and encouragement have profoundly driven our technological development and innovation pursuits. The significant achievements during the testnet phase, such as the notable growth in user base and the successful implementation of the MPM mechanism, have laid a solid foundation for our continued development in the decentralized finance sector. We sincerely thank you for your trust and support and look forward to creating new chapters together with you on the MYX journey.

Website : MYX Finance