MYX Secures Consensys Backing Ahead of V2 Infrastructure Shift
Onchain derivatives protocol MYX has closed a strategic funding round led by Consensys, with participation from Consensys Mesh and Systemic Ventures, as it prepares to launch MYX V2. The round makes Consensys the largest investor in the project and marks a clear vote of confidence in MYX’s shift away from operating as a standalone trading venue.
The funding supports the rollout of MYX’s Modular Derivative Settlement Engine, a redesign that positions the protocol as infrastructure rather than a consumer-facing exchange. Instead of competing for users directly, MYX is aiming to become a shared clearing and settlement layer that other applications can build on.
From exchange to settlement layer
MYX V2 represents a structural change in how the protocol fits into the onchain derivatives landscape. Rather than running a vertically integrated perpetuals platform, MYX is decoupling execution from interface and liquidity distribution.
The idea mirrors earlier shifts in DeFi, where lending pools, AMMs, and oracles evolved into shared primitives used by many products. In derivatives, the same logic applies: fragmented liquidity and duplicated infrastructure across chains create inefficiencies that modular settlement aims to reduce.
By acting as a neutral settlement engine, MYX allows trading interfaces, automation tools, and strategy platforms to plug into perpetual liquidity without building their own clearing rails.
Execution without order books
At the core of MYX V2 is an execution model that does not depend on traditional order book depth. Pricing is anchored directly to oracle feeds, removing slippage that typically appears when trading size on thin or volatile markets.
The protocol introduces a Dynamic Margin system supporting leverage of up to 50x, designed to function independently of local liquidity conditions. Large positions can be opened and closed at predictable prices, even when order books would normally be shallow.
This design targets a common pain point in onchain perpetuals: traders either wait for liquidity to build or accept execution penalties. MYX’s approach removes that trade-off by separating execution quality from market depth.
Account abstraction and capital efficiency
MYX V2 integrates account abstraction using EIP-4337 and EIP-7702, alongside Chainlink’s permissionless oracle stack. Together, these components simplify transaction flows and reduce friction around margin management and asset onboarding.
The result is gasless, one-click trading while maintaining non-custodial control. Execution rules are enforced by deterministic economic models rather than discretionary market-making, which becomes particularly relevant during periods of stress.
For professional traders, the practical outcome is lower effective trading costs, faster execution, and reduced exposure to sudden liquidity gaps.
Why Consensys stepped in
Consensys’ involvement reflects a broader infrastructure thesis. Rather than backing another derivatives venue, the firm is betting on settlement as a foundational layer for Ethereum’s financial stack.
Ray Hernandez, Senior Vice President of Corporate Development at Consensys, said derivatives markets need to evolve beyond siloed venues toward shared, capital-efficient settlement systems. From that perspective, MYX is less an exchange and more a protocol component.
MYX CEO Ryan described V2 as “an engine, not an exchange,” emphasizing that permissionless oracles and account abstraction allow the protocol to improve user experience without compromising decentralization.
Who MYX V2 is built for
MYX is not positioning V2 as a retail-first product. Instead, it targets sustained derivatives activity from professional traders, structured strategies, and B2B integrations.
Trading applications and automation platforms can integrate directly with MYX to access perpetual exposure without managing settlement themselves. Institutional observers, meanwhile, gain visibility into a potential clearing layer emerging within Ethereum’s derivatives ecosystem.
The protocol is designed to support long-term usage rather than short-term volume spikes, with conservative margin assumptions and oracle-anchored pricing intended to hold up under real trading conditions.
As onchain derivatives mature, settlement reliability is becoming more important than front-end features. With fresh backing from Consensys and an infrastructure-first design, MYX is positioning itself where execution happens, not where users click.
