In the increasingly competitive field of on-chain derivatives, the centralized derivatives protocol MYX has quickly become a hot topic in the community due to a series of operations and unique advantages. Especially its launched node staking system has attracted widespread attention.
Institutions are clustering, and the staking ecosystem is very strong.
MYX's node staking system is its major highlight, attracting many top institutions to participate. Prominent institutions like Sequoia China, Linea, FL Foundation, and Woyong have all joined and become 'key players' in the node staking system.
Unlike ordinary PoS mining, MYX integrates trading matching rights, governance rights, and revenue distribution rights into the nodes. Every week, 21 active nodes are elected through voting. These nodes are responsible for on-chain matching and network operation, and staking users can also share in the transaction fees. This design not only gives nodes more power and responsibility but also brings tangible benefits to staking users, building a stable and vibrant staking ecosystem.
The data is impressive, and the market recognition is high.
Since MYX Finance launched on the mainnet in February last year, it has shown particularly strong growth. Trading volume, total locked value (TVL), and community size have all skyrocketed.
During the testnet phase, MYX attracted 60,000 users, laying a good foundation for the explosion after the mainnet launch. After the mainnet launch, MYX also launched the 'Cambrian Explosion' event, waiving all transaction fees, which significantly boosted user attention and participation, and market recognition rose accordingly.
Unique approach, distributed node matching breaks the deadlock.
Currently, on-chain perpetual protocols are quite entangled; either adopting a centralized matching method like GMX v2, or sticking to a high-cost order book model like Hyperliquid.
MYX, however, has taken a different path by choosing distributed node matching. Through this approach, MYX ensures the characteristics of decentralization, reduces costs, and greatly enhances system openness. If expansion is needed, it only requires adding nodes, without having to make tough choices between performance and decentralization like other protocols, nor overly relying on market makers.
Current situation and future outlook.
Although MYX's price trend is not as strong as it was at the beginning, it is quite stable. Staking and mining are running normally, and node elections are quite lively. This project, which hasn't dumped airdrops or spent money to buy hype but has consistently had people working seriously, I think can be held onto and observed gradually. It might become a new consensus entry point in the perp track.
This innovative route design provides new ideas for solving the industry's pain points in on-chain perpetual protocols. If MYX can successfully land in the CEX contract area in the future, with its existing institutional support, impressive data performance, and unique route design, it will surely stir up new waves in the on-chain derivatives track, and is worth our continued attention.
