Mixin launches U-based perpetual contracts, bringing derivative trading into social chat

The privacy-focused cryptocurrency wallet Mixin today announced the launch of its U-based perpetual contracts (USDT-based derivatives).

Unlike traditional exchanges, Mixin takes a completely different approach: it liberates derivatives trading from isolated matching engines and brings it into an instant messaging environment. Users can open positions with up to 200x leverage directly within the app, while sharing holdings, discussing strategies, and copying trades in a private community. Trading, social interaction, and asset management are integrated into a single interface.

Simplified Trading Experience: No KYC, Open Positions in Five Steps

Based on its non-custodial architecture, Mixin allows users to access perpetual contract trading without identity verification (KYC), eliminating traditional registration barriers.

The trading process is reduced to five steps:

1. Select trading asset

2. Choose bullish (long) or bearish (short)

3. Enter position size and leverage multiplier

4. Review order details

5. Confirm and open position

The interface provides real-time visualization of prices, positions, and profit and loss (PnL), allowing users to execute trades without switching between multiple modules.

Social-Native Trading: Integration of Strategy and Execution

Mixin directly integrates social features into its derivatives trading environment. Users can create private trading communities and interact around real-time positions:

• Support for encrypted private chat groups with up to 1,024 members

• End-to-end encrypted voice communication

• One-click position sharing

• One-click copy trading

At the execution level, Mixin aggregates multiple sources of liquidity, providing a unified trading interface that allows users to access liquidity from decentralized protocols and external market venues. By combining social interaction with execution, Mixin enables users to collaborate, share, and implement trading strategies in the same environment.

Referral Model: Non-Institutional Users Can Enjoy Up to 60% Trading Fee Sharing

Mixin has also launched a referral incentive system linked to trading activity:

• Users can bind invitation codes to participate

• Up to 60% of trading fees can be shared

• Aimed at achieving continuous, long-term rewards

This model is designed to encourage organic growth and user-driven network expansion.

Self-Custodial Architecture with Built-in Privacy Features

Mixin's derivatives trading is built on its existing self-custodial wallet infrastructure.

Core features include:

• Separation of trading accounts and asset storage

• Users have complete control over their assets

• No platform custody of user funds

• Built-in privacy mechanisms to reduce data exposure

The system aims to balance trading efficiency with asset security and privacy.

A New Path for On-Chain Derivatives

As perpetual contracts become mainstream trading tools, Mixin is exploring a different direction: combining low entry barriers, social interaction, and privacy protection. The platform not only focuses on execution infrastructure but also positions trading as a networked activity: trading becomes social, strategies become shareable, and social relationships become part of the financial layer.

Regulatory Background

Mixin's design is based on a "user-initiated" and "user-controlled" model. The platform does not custody assets nor execute trades on behalf of users.

This approach aligns with the staff statement titled "Statement of Staff on Broker-Dealer Registration of Certain User Interfaces for Preparing for Trading in Crypto Asset Securities" issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026. The statement indicates that non-custodial service providers offering neutral interfaces may not need to register as broker-dealers or exchanges, as long as trades are fully initiated and controlled by users.

About Mixin

Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management.

Its core capabilities include:

• Aggregation: Integrating multi-chain assets and routing cross-chain trading paths to simplify user operations.

• High Liquidity Access: Connecting multiple sources of liquidity, including decentralized protocols and external market venues.

• Decentralization: Achieving complete user control over assets without relying on custodial intermediaries.

• Privacy Protection: Utilizing MPC, CryptoNote, and end-to-end encrypted communication to protect assets and data.

Mixin has been operating for over 8 years, supporting 40+ blockchains and over 10,000 assets, with more than 10 million users globally and a self-custodied asset scale exceeding $1 billion.