MYX Finance Raises $5 Million in Strategic Funding Round Stocks Surge
1min read MYX Finance, a derivatives trading protocol, has successfully completed a $5 million strategic funding round. This round saw participation from several top institutions, including FL Foundation, Woyong, D11-Labs, HashKey Capital, and metalpha. Notably, D11-Labs and HashKey Capital had previously invested in MYX Finance's seed round, demonstrating their continued support for the project.
The funds raised will be used to accelerate MYX Finance's vision of building a "Chain Abstract Liquidity Layer." This layer aims to address two major challenges faced by decentralized exchanges (DEXs): liquidity and usability. By providing users with a centralized exchange (CEX)-level trading experience while retaining the composability and scenario innovation potential of DEXs, MYX Finance seeks to bridge the gap between traditional and decentralized trading platforms.
MYX Finance has established itself as the fastest-growing multi-chain derivative DEX protocol in 2024 and is the largest DEX project within the Linea ecosystem. In November 2023, the protocol completed a $50 million valuation seed round led by HongShan (Sequoia China), further solidifying its position in the market.
Looking ahead, MYX Finance is set to conduct its Token Generation Event (TGE) in the first quarter of this year. The project has already launched a Pre-TGE Pioneer Reward multi-task on Galxe, where community users can participate in various tasks such as social media community tasks, trading tasks, and MLP purchase tasks. By completing these tasks, users can share 200,000 MYX tokens, fostering community engagement and participation.
