Overview
MYX announced the completion of a strategic funding round led by Consensys, the company behind the MetaMask wallet, as it repositions itself to deliver core trading infrastructure across multiple blockchains. Systemic Ventures and Consensys’s venture capital arm also took part in the financing, MYX said.
What MYX says the funds will do
MYX intends to channel the fresh capital into deeper research and development across several technical areas. According to MYX CEO Ryan, the investment "enables deeper R&D into our execution, risk engine, and chain abstraction framework, and strengthens our ability to extend derivatives access to non-crypto-native participants." The company did not disclose the total amount raised in this round.
The group did note that in a separate strategic raise in September, it had accumulated $5 million in funding that also involved Consensys.
MYX V2: product and platform implications
MYX described V2 as a major technology upgrade that will convert its traditional trading interface into a professional-grade execution engine designed to make advanced crypto trading faster and less costly. Key features MYX highlights for V2 include so-called "one-click" and "gasless" transactions, which are intended to remove the need for separate fees or additional on-chain signing steps when executing trades.
MYX says its services are designed to let positions be opened or closed at more predictable prices regardless of available liquidity on a given exchange. The company claims this will reduce effective trading costs relative to underlying spot markets, deliver immediate access to newly emerging assets, and provide consistent execution during periods of market stress.
Positioning and integration
Consensys is now the largest investor in MYX, the firm said. MYX is promoting an infrastructure-first approach so other applications can connect directly to its execution engine. The stated benefits of this model include the potential to cut costs and improve security for a next generation of digital financial products by allowing those applications to leverage MYX’s execution, risk, and chain abstraction systems.
Implications for product and markets
From a product-design perspective, MYX V2 aims to lower friction for both crypto-native and non-crypto-native participants through simplified transaction flows and abstracted chain interactions. For markets, the company argues predictable pricing and resilient execution could change how derivatives access and execution are provisioned across exchanges and trading venues.
Disclosure
No further financial details about the current funding round were disclosed by MYX.