# MYX Finance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/myx-finance

- Industry: Financial Services
- Headquarters: China
- Website: www.myx.finance/
- Total disclosed funding: $5M
- Latest round: Seed (Nov 28, 2023)
- Investors on record: 12

## About

Based in the US, MYX Finance is a decentralized exchange (DEX) specializing in perpetual futures trading, offering users a zero slippage trading experience through its innovative Multi-Pricing Mechanism (MPM).MYX Finance was founded in 2023 and is headquartered in China. The company operates as a decentralized exchange focusing on perpetual futures trading. Mark Zhang, who serves as the CEO, founded the company and has been instrumental in its development. In November 2023, MYX Finance successfully raised USD 5 mn in Seed funding, led by HongShan and supported by a range of investors including ConsenSys Ventures and OKX Ventures. This funding round marks the total amount raised by the company to USD 5 mn, with a current valuation of USD 50 mn.MYX Finance operates as a decentralized exchange (DEX) specializing in perpetual futures trading, emphasizing a unique zero slippage experience enabled by its proprietary Multi-Pricing Mechanism (MPM). Traders can engage in efficient trading without incurring slippage costs typically associated with traditional markets. Features include high leverage options of up to 50x on USDC-collateralized perpetual futures contracts and a competitive fee structure that attracts both individual traders and institutional investors. The platform caters to users across North America, Europe, and parts of Asia, ensuring a seamless and secure trading experience while allowing users to maintain control of their assets via smart contract technology.MYX Finance generates revenue primarily through transaction fees on trading activities. The platform offers a competitive pricing structure with a maker's fee of 0.018%, and active traders can benefit from rebates that reduce fees to as low as -0.01%. The exchange facilitates direct transactions for both individual and institutional users, enabling trading of perpetual futures contracts without intermediaries. Additionally, MYX employs long-term airdrop programs to enhance user engagement and retention, contributing positively to its revenue model.In November 2023, MYX Finance raised USD 5 mn in Seed funding, which will be utilized to transform decentralized derivatives trading. The company aims to launch new products designed to enhance the trading experience for its users. MYX Finance is also targeting expansion into emerging markets, although specific regions have yet to be disclosed. The recent funding is pivotal in supporting these initiatives, as the company seeks to strengthen its position within the decentralized finance space.

## Funding rounds

- Seed, Nov 28, 2023, $5M — Redpoint Ventures, Foresight Ventures, ConsenSys Ventures, Hack VC, HSG, Cypher Capital, HashKey Capital, Leland Ventures, OKX Ventures, Lecca Ventures, GSR, Bing Ventures

## Investors

- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Seed
- Foresight Ventures (https://capitalatlas.ai/funds/foresight-ventures) — Seed
- ConsenSys Ventures (https://capitalatlas.ai/funds/consensys-ventures) — Seed
- Hack VC (https://capitalatlas.ai/funds/hack-vc) — Seed
- HSG (https://capitalatlas.ai/funds/hsg) — Seed
- Cypher Capital (https://capitalatlas.ai/funds/cypher-capital) — Seed
- HashKey Capital (https://capitalatlas.ai/funds/hashkey-capital) — Seed
- Leland Ventures (https://capitalatlas.ai/funds/leland-ventures) — Seed
- OKX Ventures (https://capitalatlas.ai/funds/okx-ventures) — Seed
- Lecca Ventures (https://capitalatlas.ai/funds/lecca-ventures) — Seed
- GSR — Seed
- Bing Ventures (https://capitalatlas.ai/funds/bing-ventures) — Seed