SINGAPORE — February 18, 2026
Executive Summary
MYX has completed a strategic funding round led by Consensys, with participation from Consensys Mesh and Systemic Ventures, ahead of the launch of MYX V2. With the close of the round, Consensys has become the largest investor in the protocol. According to the company, the capital will support the rollout of MYX’s Modular Derivative Settlement Engine and formalize its transition from a vertically integrated decentralized application into infrastructure designed for omnichain derivatives. The V2 release introduces structural changes to how perpetual derivatives are cleared, margined, and executed onchain, integrating account abstraction standards and permissionless oracle infrastructure to address liquidity fragmentation, slippage exposure, and capital inefficiencies that have historically constrained decentralized derivatives markets.
Announcement Overview
MYX announced the completion of a strategic funding round led by Consensys, reinforcing its position ahead of the planned launch of MYX V2. Participation in the round included Consensys Mesh and Systemic Ventures, and the company confirmed that Consensys is now its largest investor. The funding supports the deployment of MYX’s Modular Derivative Settlement Engine, which the company describes as a shift away from siloed decentralized exchange architecture toward shared settlement infrastructure.
The protocol’s V2 release repositions MYX from an application-level perpetual exchange into a modular settlement layer capable of serving external products, trading interfaces, and automation platforms. Rather than operating solely as an end-user venue, MYX V2 is designed to function as clearing and settlement infrastructure within Ethereum’s broader derivatives ecosystem. The company indicated that this transition aligns with a wider industry movement favoring composable financial primitives over isolated liquidity venues.
According to MYX, the funding round provides both capital support and strategic alignment as it advances toward V2 deployment. The company stated that the protocol-level changes embedded in V2 are intended to address structural inefficiencies in onchain derivatives, including liquidity fragmentation across chains, reliance on order book depth for execution quality, and limitations in capital deployment efficiency under traditional perpetual exchange designs.
Key Announcement Details
- Announcement Type: Strategic funding round completion and protocol infrastructure transition
- Funding Structure: Strategic round (non-public valuation disclosed)
- Lead Investor: Consensys
- Participating Investors: Consensys Mesh, Systemic Ventures
- Largest Shareholder Update: Consensys confirmed as largest investor in MYX post-round
- Use of Proceeds: Deployment and scaling of MYX V2 Modular Derivative Settlement Engine
- Protocol Upgrade: MYX V2
- Product Classification: Onchain perpetual derivatives protocol
- Architecture Transition: From vertically integrated decentralized application (dApp) to modular settlement infrastructure layer
- Settlement Model: Modular Derivative Settlement Engine
- Infrastructure Orientation: Omnichain derivatives clearing and settlement layer
- Primary Ecosystem Alignment: Ethereum financial infrastructure stack
- Ethereum Standards Integrated: EIP-4337 (account abstraction), EIP-7702 (transaction flow enhancement)
- Oracle Infrastructure Partner: Chainlink
- Oracle Model: Permissionless oracle stack with oracle-anchored pricing
- Execution Model: Gasless, one-click perpetual trading
- Custody Model: Fully non-custodial user control
- Margin Framework: Dynamic Margin system
- Maximum Leverage Supported: Up to 50x
- Slippage Mechanism: Oracle-anchored pricing eliminating order-book-based slippage
- Liquidity Architecture: Liquidity depth decoupled from execution quality
- Risk Framework: Deterministic economic models with conservative security assumptions
- Capital Efficiency Objective: Reduced effective trading costs versus underlying spot markets
- Target User Segment (Primary): Professional and active derivatives traders
- Target User Segment (Secondary): Institutional observers and infrastructure participants
- B2B Integration Scope: Trading applications, automation platforms, and external protocol integrations
- Strategic Positioning: Shared clearing and settlement infrastructure within Ethereum derivatives stack
- Headquarters Location: Singapore
- Announcement Date: February 18, 2026
- Company Classification: Decentralized finance (DeFi) derivatives infrastructure provider
Strategic Context
Onchain derivatives have historically operated within vertically integrated decentralized exchange frameworks, where liquidity pools, matching engines, settlement logic, and user interfaces are bundled within a single venue. According to MYX, this architecture has produced predictable constraints, including liquidity fragmentation across networks, slippage exposure for large trades, and inefficiencies in capital utilization when traders rely on order book depth as a proxy for execution certainty.
The MYX V2 release reflects a structural repositioning. Rather than compete solely as a perpetual exchange venue, MYX is positioning its settlement engine as infrastructure that other protocols and products can integrate directly. The company described this transition as part of a broader evolution within decentralized finance toward shared clearing primitives, composable margin systems, and infrastructure-level design that reduces duplication of liquidity across siloed exchanges.
The funding round led by Consensys reinforces this transition at a time when Ethereum-based markets are increasingly focused on scaling composable financial rails rather than isolated trading interfaces. MYX indicated that the V2 architecture is designed to function under deterministic economic models, enforceable margin constraints, and oracle-anchored pricing logic rather than discretionary liquidity provisioning.
Technical Architecture and Protocol Evolution
MYX V2 introduces a Modular Derivative Settlement Engine that separates execution logic from interface layers and local liquidity conditions. Instead of relying on traditional order books to determine price discovery and trade execution, MYX anchors pricing directly to oracle inputs. This mechanism is designed to eliminate slippage that typically arises when large orders exceed visible order book depth in decentralized markets.
At the protocol layer, MYX integrates EIP-4337 and EIP-7702, two Ethereum Improvement Proposals associated with account abstraction and transaction flow flexibility. Account abstraction enables advanced wallet functionality, transaction bundling, and more seamless user interaction patterns, while preserving non-custodial control. According to the company, these standards reduce friction associated with multi-step transactions and manual gas management in derivatives trading.
The integration of Chainlink’s permissionless oracle stack provides price feeds designed to anchor settlement values independently of local liquidity distortions. By anchoring perpetual pricing directly to oracle references rather than transient market microstructure, MYX stated that it can enable predictable execution regardless of momentary order book conditions.
The protocol also introduces a Dynamic Margin system capable of supporting leverage levels of up to 50x. Rather than relying on conventional order book depth to absorb risk, MYX uses deterministic economic models to enforce margin requirements and liquidation parameters. According to the company, this architecture allows traders to open and close positions at predictable prices, without laddering orders or accepting execution degradation during volatile periods.
Execution Model and Trading Mechanics
The V2 design enables gasless, one-click trading while maintaining non-custodial account control. MYX stated that the goal is to streamline transaction flows without compromising user sovereignty. The gasless functionality is facilitated through account abstraction features that allow transaction costs to be abstracted away from end-user workflows.
By decoupling liquidity depth from execution quality, MYX eliminates a common constraint in decentralized perpetual markets: the need for deep local liquidity to support size. In traditional models, thin order books result in slippage and execution penalties, particularly when trading newly listed or volatile assets. MYX V2 instead anchors pricing to oracle feeds, ensuring that execution remains consistent even when order book depth is shallow.
According to the company, this mechanism reduces effective trading costs relative to underlying spot markets, particularly in conditions where spot liquidity is fragmented or thin. The protocol asserts that positions can be opened and closed at predictable prices regardless of transient liquidity imbalances.
The company emphasized that these mechanics are not discretionary or market-maker dependent. Settlement, pricing, and margin enforcement are embedded within deterministic protocol logic designed to perform under stressed conditions. The system relies on conservative security assumptions and predefined economic parameters rather than external liquidity incentives.
Market Positioning and Participant Impact
The launch of MYX V2 positions the protocol as infrastructure serving multiple participant categories. Professional traders gain access to high leverage and slippage-resistant execution models anchored to oracle pricing. Institutional observers may view the settlement layer as a structural evolution within Ethereum’s derivatives stack, particularly as modular infrastructure models become more prevalent.
B2B trading applications and automation platforms can integrate directly into MYX’s settlement engine without constructing independent clearing rails. This integration model reduces duplication of liquidity and allows external products to access perpetual derivatives exposure through shared infrastructure.
MYX stated that V2 is not designed solely for short-term retail speculation. Instead, the architecture is intended to support sustained derivatives activity across cycles, emphasizing settlement design, oracle security, and composable integration pathways. The protocol’s design prioritizes structural resilience rather than volume spikes driven by speculative listing cycles.
Leadership Commentary
“MYX V2 is more than just an exchange – it’s an engine. Integrating EIP-7702 and permissionless oracles means we can make onchain perps trading seamless while preserving decentralized sovereignty. We’re grateful to all our investors for aligning with our vision to redefine perpetual settlement standards,” said Ryan, CEO of MYX.
“As onchain markets mature, derivatives infrastructure needs to evolve beyond siloed venues toward modular, shared settlement layers,” said Ray Hernandez, Senior VP of Corporate Development at Consensys. “We believe that resilient, capital-efficient settlement infrastructure is foundational to the long-term health and scalability of Ethereum’s financial ecosystem. MYX’s approach reflects this shift, prioritizing composability and transparent settlement at the infrastructure layer.”
Broader Industry Implications
The transition toward modular settlement infrastructure mirrors broader structural developments in decentralized finance. As capital becomes increasingly mobile across chains, vertically integrated trading venues face limitations in maintaining deep liquidity across fragmented environments. MYX’s approach suggests a model where clearing and settlement are abstracted from user interfaces and distributed across composable infrastructure layers.
By positioning itself as infrastructure rather than solely as an exchange venue, MYX aligns with a design philosophy that treats derivatives settlement as a foundational financial primitive. The funding round led by Consensys underscores investor interest in infrastructure-level innovation within Ethereum’s financial ecosystem.
The integration of account abstraction standards and permissionless oracle systems further reflects an effort to align protocol mechanics with evolving Ethereum infrastructure standards. These components reduce operational friction while preserving decentralized custody principles.
About MYX
MYX is a decentralized perpetual derivatives protocol founded to address structural inefficiencies in onchain trading. Headquartered in Singapore, the company operates within the Ethereum ecosystem and focuses on perpetual derivatives infrastructure rather than isolated exchange interfaces. MYX initially launched as a decentralized perpetual exchange built around its proprietary Matching Pool Mechanism, designed to match long and short positions while minimizing slippage.
With the launch of MYX V2, the protocol transitions into a Modular Derivative Settlement Engine serving omnichain derivatives use cases. The V2 architecture integrates Ethereum account abstraction standards including EIP-4337 and EIP-7702, alongside Chainlink’s permissionless oracle infrastructure. The protocol supports up to 50x leverage through a Dynamic Margin system and enables gasless, one-click trading while maintaining non-custodial control.
The recent strategic funding round led by Consensys, with participation from Consensys Mesh and Systemic Ventures, formalizes Consensys as the largest investor in MYX. The funding supports the deployment of infrastructure intended to function as a shared clearing and settlement layer within Ethereum’s derivatives ecosystem.
Additional information about the protocol and its technical architecture is available at https://myx.finance/.
Media Contact
For additional information, visit myx.finance.
Source Attribution
Source: Company announcement