The first time I came across MYX Finance was during a late-night scroll on Twitter. At that time, I had just been 'harvested' by a certain CEX's perpetual contract, and my mind was filled with shadows of 'slippage', 'liquidation', and 'fee assassins'. Until I saw MYX Finance's slogan - 'The future of perpetuals on the BSC chain', filled with skepticism and curiosity, I clicked into the official website.
First Experience: Breaking the Cognitive 'MPM Mechanism'. As a novice, my biggest fear was 'one position blows, all positions gone'. But MYX's 'MPM mechanism' (Multi-Position Management) was an eye-opener for me. Simply put, it acts like a smart butler: my USDT principal is dynamically allocated to multiple contract positions, and the system automatically adjusts the margin ratio based on market fluctuations. For example, when the ETH position is highly volatile, excess funds from the BTC position are temporarily allocated to 'emergency rescue', instead of just watching everything blow up. This design of 'risk isolation + fund synergy' made me realize for the first time that 'contracts don't have to be a life-or-death gamble'.
Cross-Chain Freedom: Finally, no more chain-switching for arbitrage. The most frustrating part of trading contracts was the 'island of on-chain assets'. Want to trade SOL perpetuals? You have to first cross the USDT from BSC to Solana, and the transaction fees and time costs are overwhelming. MYX's chain abstraction technology directly connects multiple chains - I can actually trade ETH contracts on Arbitrum directly with USDT staked on BSC! This experience of 'one-time staking, cross-chain trading' is akin to switching from a regular train to a high-speed train.
Unexpected gain: The Keeper nodes allow me to 'earn passively'. One day, I suddenly found a few MYX tokens in my account. Upon checking, I realized it was the incentive for participating in the 'Keeper System'. It turns out that MYX's trading matching is executed by decentralized nodes, and users can become Keepers by staking tokens to earn a share of the transaction fees. Although the earnings are not much, this model of 'trading while mining' makes me feel that the platform and users are a community of interests, rather than adversaries.
Lessons and Insights
Of course, there are times when things go wrong. Once, I heavily invested in BTC without paying attention to MYX's 'Dynamic Margin Reminder', and almost triggered a forced liquidation. Later, I learned to use the platform's 'Risk Simulator' to test my position's endurance in advance. Now my strategy has changed to: 70% of funds managed automatically by MPM, and 30% manually with high leverage to 'take a chance', keeping me safe while still having fun.
Half a year has passed, and MYX has transformed from a 'let's give it a try' to my main contract platform. It may not be the most perfect, but the philosophy of 'leaving complexity to itself while giving simplicity to users' has indeed given retail investors like me the confidence to compete on the same stage as big players. If I could make a suggestion? I hope MYX can add a 'Panic Index Reminder' in the future - after all, no mechanism can stop the FOMO.