MYX Finance: The Story of the Fastest Growing DEX in 2024

The evolution of the crypto world, centered around currency decentralization since Bitcoin's inception by Satoshi Nakamoto, has seen a shift towards financial decentralization with the emergence of Ethereum. This transition has brought decentralized protocols like lending and AMM SWAP to the forefront, providing convenience to Web3 users.

Since Bitcoin’s debut and Satoshi Nakamoto’s introduction of currency decentralization in the crypto realm, the focus has shifted toward financial decentralization with the introduction of Ethereum. This transition has highlighted decentralized protocols like lending and AMM SWAP, which enhance the Web3 user experience.

Trading, a key aspect of the crypto space, has largely relied on centralized exchanges (CEXes) due to limitations in DeFi infrastructure. However, innovations like Layer 2 and Dencun Upgrade are now propelling decentralized trading to the forefront. DEXes such as Uniswap and dYdX are presenting promising alternatives to CEXes and reshaping the landscape of cryptocurrency trading.

Unlike AMM and order book models introduced by Uniswap and dYdX, MYX leverages its innovative next-generation P2POOL2P engine, MPM, to become a new species of pool-model perpetual DEX, breaking through the bottleneck of low on-chain capital efficiency and allowing on-chain traders to enjoy 0 slippage and CEX-level fees for the first time. In light of this, MYX Finance embarked on this journey with our unique product, clear strategy, firm commitment, and full confidence.

Over the past months, Guided by “User-Centric” philosophy, we have achieved great strides in improving our platform, and become the fastest growing DEX in 2024! As we look back, we are filled with a profound sense of gratitude for our community and team, and we feel obliged to share insights of the MYX journey that you may not know before.

MYX Finance’s Story

Our story began back in 2023, when some likeminded financial elites and DeFi experts gathered together. After years of working in top CEXs, traditional finance and crypto funds, we identified inborn flaws in CEXes, like lack of privacy, asset security risks, compliance risks, limited asset availability, lack of composability and more.

On the other hand, DEX naturally possesses advantages such as transparency, privacy, composability, and fairness. As a crypto protocol, MYX utilizes tokenomics design to address the trilemma of interests, balancing the interests of users, employees, and investors. In an ideal crypto world, MYX’s vision is to connect the interests of all community members, unleashing a more powerful force.

“2024’s Breakout DEX: MYX Finance”

After extensive research and development, MYX testnet was launched in August