Consensys leads strategic funding for MYX as V2 launches modular derivatives settlement
On Feb 18, on-chain derivatives protocol MYX closed a strategic funding round led by Consensys, with participation from Consensys Mesh and Systemic Ventures; Consensys is now MYX’s largest investor. The capital is earmarked to launch MYX V2 and deploy a Modular Derivative Settlement Engine that repositions MYX from a vertically integrated DApp into a modular settlement layer usable by other platforms. MYX V2 integrates account abstraction (EIP-4337 and EIP-7702) and Chainlink’s permissionless oracle stack to speed asset listings, improve capital efficiency and simplify trading flows. Key features touted include gasless one‑click trading, non‑custodial control, a Dynamic Margin system supporting up to 50x leverage without relying on order‑book depth, and oracle‑anchored pricing designed to eliminate slippage for large orders. The architecture decouples execution quality from local liquidity, targeting professional traders and on‑chain perpetuals use cases. Funding is explicitly intended to support MYX’s transition into core omnichain derivatives infrastructure ahead of the V2 launch. Traders should watch for improved capital efficiency, faster listings of long‑tail assets, and potential composability opportunities that could change how liquidity and settlements route across chains.
Bullish
The funding and technical roadmap increase MYX’s capacity to act as core infrastructure for on‑chain derivatives, which is generally positive for the protocol’s token/project adoption and utility. Integrating Chainlink oracles and account abstraction can materially improve execution quality, capital efficiency and asset onboarding speed — features that attract professional traders and higher on‑chain volumes. In the short term, the announcement may boost sentiment and speculative interest in MYX and any related tokens, leading to price uplift as traders anticipate improved product-market fit. Over the medium to long term, if V2 delivers reduced slippage, gasless UX and reliable oracle pricing, it could drive sustained increases in on‑chain perpetuals activity routed through MYX, supporting higher protocol usage and token demand. Risks that could temper upside include execution delays, tougher-than-expected integration with other chains or platforms, and competition from incumbent on‑chain derivatives venues. Overall, net impact on the mentioned project is positive, so the classification is bullish.