MYX Finance Launches Staking Node System, VIP Discounts

MYX Finance, a derivative trading protocol, has announced the launch of two significant feature upgrades: the Keeper Network staking node system and a new VIP level system. The Keeper Network staking node system allows users to stake MYX tokens to 21 community-elected Keeper nodes, which are responsible for executing transaction tasks to ensure efficient and secure transactions. This system also introduces a fee buyback mechanism, where net transaction fee revenue is used to buy back MYX tokens, which are then distributed to staking nodes. This mechanism aims to increase node rewards and token value, creating a positive cycle of staking incentives and MYX deflation.

The more active a user's trading is, the higher the node rewards they receive, further incentivizing participation in the network. Additionally, MYX Finance has introduced a VIP mechanism based on holdings, providing advanced VIP user fee discounts on centralized exchanges (CEX). Users only need to hold 10 MYX tokens to automatically obtain the base VIP level, with no lockup or trading volume requirements. The more MYX tokens a user holds, the higher the fee discounts they enjoy, surpassing traditional CEX mechanisms and enhancing MYX's utility value and market demand.

Through these upgrades, MYX Finance is accelerating the construction of an inclusive on-chain derivatives ecosystem. The Keeper Network staking node system and the new VIP level system are designed to drive both node incentives and token empowerment, fostering a more robust and user-friendly trading environment. These enhancements are expected to further solidify MYX Finance's position in the derivatives trading space, attracting more users and increasing the overall liquidity and security of the platform.

Ask Aime: What's the impact of MYX Finance's new features on the derivatives market?