In the increasingly competitive on-chain derivatives track, centralized derivatives protocols #MYX have quickly become the focus of attention with a series of actions and unique advantages, especially after the launch of its node staking system, which has attracted widespread attention.
Institutions are gathering, building a deep closed-loop staking ecosystem.
#MYX 's node staking system is a major highlight, attracting participation from numerous top-tier institutions. Notable institutions such as Sequoia China, Linea, FL Foundation, and Woyong have joined as 'key players' in its node staking system.
Unlike ordinary PoS mining, MYX integrates trading matching rights, governance rights, and profit distribution rights into the nodes. Every week, 21 active nodes are elected through voting; these nodes not only take on the responsibility of on-chain matching and network operation, but staked users can also share in the transaction fees. This unique closed-loop design not only empowers nodes with more authority and responsibility but also provides staked users with tangible returns, creating a stable and vibrant staking ecosystem.
Data is impressive, and the growth curve indicates market recognition.
Since the mainnet launch of MYX Finance in February last year, it has demonstrated strong development momentum. Its trading volume, total value locked (TVL), and community size have all shown explosive growth, as if riding a rocket, soaring all the way.
During the testnet phase, MYX successfully attracted 60,000 users, laying a solid foundation for the explosive growth after the mainnet launch. After the mainnet went live, MYX launched the 'Cambrian Explosion' event, waiving all transaction fees, which greatly attracted user attention and participation, further enhancing its market recognition.
Unique route, distributed node matching breaks the industry's dilemma.
Currently, on-chain perpetual protocols face a dilemma: either imitate GMX v2 by adopting centralized matching methods or persist with the high-cost order book model like Hyperliquid.
MYX has taken a unique path by choosing distributed node matching.
By utilizing distributed node matching, MYX ensures decentralization while effectively lowering costs and significantly enhancing the system's openness.
When expansion is needed, simply adding nodes suffices, eliminating the difficult choices between performance and decentralization as seen in other protocols, and reducing reliance on market makers.
Although the current price trend is not as vigorous, to be honest, it is quite stable.
While staking and mining are running, the node elections are quite lively.
This project has not relied on airdrops, did not spend money to buy popularity, and still has continuous contributions.
I am willing to take my time to see if it can become a new consensus entry point for the perp track.
This innovative route design provides new ideas and directions to solve the industry pain points of on-chain perpetual protocols.
If MYX can successfully enter the contract area of CEX in the future, backed by its existing institutional support, impressive data performance, and unique route design, it will surely trigger a synergistic effect both on-chain and off-chain, stirring up new waves in the on-chain derivatives track, which is worth our continuous attention.