The perpetual contract exchange MYX has completed a $5 million seed round financing, led by Sequoia China

2023-11-28 20:46:26

Collection

ChainCatcher news, the decentralized perpetual contract exchange MYX incubated by D11 Labs announced the completion of a $5 million seed round financing at a valuation of $50 million. This round was led by HongShan (formerly Sequoia China), with participation from Consensys, Hack VC, OKX Ventures, Foresight Ventures, Redpoint China, HashKey Capital, GSR Markets, Alti5, Leland Ventures, Cypher Capital, Bing Ventures, and Lecca Ventures. The funds raised in this round will be used to accelerate MYX's technological innovation and market expansion, promoting the rapid launch and scalable development of its mainnet products.

At the same time, MYX announced the upcoming launch of a Treasure Hunting Event aimed at incentivizing and rewarding early supporters in the community. This event will last until the TGE ends, with the first phase about to begin, and consideration is being given to deploying key early storyline vouchers on the BRC-20 network.

According to RootData, MYX is a decentralized perpetual contract exchange that utilizes an innovative MPM mechanism to achieve 0 slippage trading and efficiently match long and short positions, achieving capital efficiency of up to 125 times, dedicated to breaking through the on-chain capital efficiency bottleneck.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.