MYX Finance (MYX) token surged nearly 1,400% in seven days, climbing to a new all-time high above $18.42. The rally has been fueled by catalysts like a Trump-linked WLFI token listing, Binance Alpha exposure, and a massive short squeeze in perpetual futures.
As of September 2025, MYX Finance has a total value locked (TVL) of over nearly $60 million. MYX Finance has handled over $10.3 billion in monthly volume, up from just $1.6 billion in February 2025, reflecting rapid adoption in the DeFi derivatives sector.
MYX Finance TVL and MYX volume | Source: DefiLlama
But what exactly is MYX Finance, how does it work, and what should you know before getting involved? Let’s break it down.
What Is MYX Finance and How Does It Work?
MYX Finance is a decentralized, non-custodial derivatives exchange built to deliver zero-slippage perpetual futures trading. It operates on multiple EVM networks, including BNB Chain, several Ethereum Layer-2 networks, including Linea and Arbitrum, and opBNB.
At its core is the Matching Pool Mechanism (MPM). Instead of a traditional order book or AMM, MYX pools liquidity and internally matches long and short positions. This design reduces fragmentation, boosts capital efficiency, and enables near-instant execution, similar to centralized exchanges, but fully on-chain.
Key Features of MYX Finance DEX
How MYX Finance works | Source: MYX Finance docs
• Perpetual Futures Contracts: USDC-margined and settled with up to 50x leverage
• No Registration Required: Trade directly from your wallet
• Real-Time Index Pricing: Powered by Pyth Oracle
• Low Fees: Maker/taker model with fees as low as 0.018%
• Gas-Free Seamless Trading: Enabled via MYX’s Seamless Key and Particle Wallet
For beginners, MYX feels similar to trading on a centralized exchange but with the added benefits of non-custodial control and cross-chain support.
Why Did the MYX Token Soar 1400% in 7 Days?
MYX Finance price chart on BingX
As of September 2025, MYX Finance (MYX) has become one of the fastest-rising tokens in DeFi. The price has jumped by over 1,000% in 30 days and nearly 1,400% in just seven days, hitting a new all-time high of $18.42. For perspective, MYX traded at only $0.15 in July, meaning early holders have seen gains of more than 11,900% in less than three months.
This explosive rally has been fueled by a mix of speculative trading, rising derivatives activity, and high-profile catalysts such as the $WLFI token listing and Binance Alpha recognition. On-chain data shows MYX handled over $133 million in daily trading volume (up 380% week-over-week) and more than $2.45 billion in weekly volume. The bulk of this activity came from perpetual futures contracts, which allow traders to go long or short with up to 50× leverage.
Open interest climbed above $400 million, with liquidation data revealing that between September 6–10, more than $89 million in short positions were wiped out compared to only $23 million in longs. This imbalance triggered a powerful short squeeze, forcing bearish traders to buy back MYX at higher prices, which further accelerated the rally.
At current levels, MYX commands a market cap of $107.8 million, a fully diluted valuation (FDV) of $807.8 million, and a TVL of $25.9 million. This gives a Market Cap/TVL ratio of 4.9 as per Coinmarketcap data, a sign of strong investor confidence but also heightened growth expectations, conditions that can amplify both upside potential and downside risk. BingX is one of the few exchanges to list MYX Finance (MYX) in its Innovation Zone, giving traders early access to this fast-moving token.
How to Trade on MYX Finance Volititily
MYX Finance is more than just a trading platform. It’s a full-featured DeFi protocol designed for high-speed derivatives trading and passive income opportunities.
1. Trade MYX Perpetual Futures
On MYX Finance, you can trade top crypto assets like BTC, ETH, SOL, and others using USDC-margined perpetual contracts with up to 50× leverage. Trades are executed instantly and without slippage thanks to the Matching Pool Mechanism (MPM), which pairs long and short positions internally. Risk is managed via isolated margin, ensuring that losses are confined to individual positions rather than your entire portfolio.
2. Provide Liquidity
Users can add collateral to Liquidity Pools and receive MLP tokens, which represent their share of the pool. Liquidity providers earn 40% of all trading fees, a portion of funding fees, and profits/losses from closed positions. As TVL grows (currently over $25.9 million), LPs benefit from high capital efficiency and passive income, especially in balanced markets with near 50:50 long/short ratios.
3. Participate in Governance
By staking MYX tokens, you gain voting rights within the protocol’s decentralized governance system. Token holders can propose and vote on changes to trading fees, protocol upgrades, risk parameters, and the structure of the Keeper Network. This gives the community direct influence over the platform’s evolution and helps align incentives between developers, traders, and token holders.
4. Become a Node or Delegator
To run a Keeper Node, users must stake at least 300,000 MYX and maintain uptime to execute trades, upload price data, and record on-chain histories. Alternatively, users can delegate their MYX tokens to active nodes to earn a share of trading fees, MYX buybacks, and execution rebates without running infrastructure. The Keeper Network rotates every week, allowing broader participation and ensuring decentralized trade settlement across supported chains.
Key Considerations Before Using MYX DEX
Before using MYX Finance, weigh both its benefits and risks. The platform offers zero-slippage execution, gas-free onboarding, and real yield opportunities for traders and liquidity providers, making it attractive for active DeFi users.
At the same time, MYX is still a new and highly volatile project, where leverage can trigger rapid liquidations and token unlocks may add pressure. While audits improve security, smart-contract and market risks remain. The safest approach is to start small, research carefully, and only commit funds you can afford to lose.
How to Claim the MYX Finance (MYX) Airdrop
To reward early supporters and ecosystem contributors, MYX Finance is distributing 14.7% of its total 1 billion MYX token supply through a multi-phase airdrop campaign. This includes allocations for users who participated in MYX’s early activities, testnet campaigns, and holders of BMYX, a pre-launch representation token.
The airdrop claim portal went live at the official MYX Finance airdrop claim page on May 6, 2025, and eligible participants can begin claiming their rewards directly on the BNB Chain. If you're eligible, you could receive a portion of the 67,036,090 MYX designated for the initial drop.
Who Is Eligible for $MYX Airdrop?
1. Early contributors who interacted with MYX testnet or community tasks
2. BMYX token holders who purchased via Binance Wallet IDO
3. Users selected through snapshot-based distribution rounds
Note: BMYX holders will receive their tokens automatically, no claim is required.
MYX Finance Airdrop Snapshot Dates and Release Schedule
• May 6, 2025, 08:00 UTC – Eligibility preview began
• May 6, 2025, 12:00 UTC – Airdrop claim portal opened
• Initial Release – 30% of each eligible user's airdrop available immediately
• Remaining 70% – Unlocked linearly over the next 5 months, with 14% released on the 6th of each month
• Redemption Deadline – Each unlocked portion must be claimed within 90 days of release, or it will be forfeited and sent to the treasury
How to Claim Your MYX Airdrop
1. Visit the MYX Finance airdrop claim page on the app at https://app.myx.finance/integral
2. Connect your MetaMask or Trust Wallet
3. Switch your wallet network to BNB Chain (BEP-20)
4. The site will auto-detect your eligibility and display the claimable amount
5. Click Claim, approve the transaction, and pay a small BNB gas fee
6. Once confirmed, the airdropped MYX tokens will appear in your wallet
Key Considerations Before Claiming MYX Tokens
Before claiming, make sure you’re using the official MYX airdrop page to avoid phishing scams or fake links. Keep at least 0.01–0.02 BNB in your wallet to cover gas fees during the transaction. If you're not eligible for this round, stay engaged with upcoming MYX campaigns for future airdrop opportunities. Remember, each unlocked token phase must be claimed within 90 days, or it will be permanently forfeited; set reminders so you don’t miss out.
What Is the MYX Token Utility and Tokenomics?
The $MYX token is the core utility and governance asset of the MYX Finance ecosystem. Beyond being a speculative asset, MYX plays an essential role in enabling secure trading, incentivizing liquidity providers, powering governance, and rewarding ecosystem participants.
The $MYX token unlocks several important functions within the MYX protocol:
1. Staking & Governance: MYX holders can stake their tokens to participate in governance proposals that influence trading fees, system upgrades, and treasury allocations. This allows the community to steer the future of the protocol in a decentralized and transparent manner.
2. Keeper Network Participation: Running a Keeper node, responsible for executing trades, submitting price data, and maintaining trading history, requires staking at least 300,000 MYX. Users who prefer a passive role can delegate their MYX to active nodes and earn a share of their rewards, including execution rebates and fee distributions.
3. VIP Trading Tiers: Holding MYX unlocks reduced trading fees through a tiered VIP structure. For example, users with over 100,000 MYX can qualify for maker fees as low as 0.01% or even receive negative maker fees (rebates) at the highest tiers.
4. Buyback Yield for Stakers: A portion of MYX Finance’s protocol revenue, generated through trading fees and liquidation penalties, is used to buy back MYX tokens from the open market. These tokens are then redistributed to stakers, creating a real yield mechanism for long-term holders.
MYX Token Allocation
MYX token distribution | Source: MYX Finance docs
The total supply of MYX is capped at 1 billion tokens, with a structured allocation designed to support long-term growth, community incentives, and protocol stability.
• Community & Ecosystem (54.7% – 547,036,090 MYX): Allocated to community incentives, airdrops, ecosystem grants, and liquidity mining programs to drive user growth and protocol adoption.
• Team & Advisors (20.0% – 200,000,000 MYX): Reserved for core contributors, developers, and advisors, subject to long-term vesting schedules to ensure alignment with the project's success.
• Institutional Investors (17.5% – 175,000,000 MYX): Allocated to strategic backers and early investors who supported the protocol's early development phases.
• Initial Liquidity (4.0% – 40,000,000 MYX): Used to provide initial liquidity on decentralized exchanges and ensure smooth trading post-launch.
• Binance Wallet IDO (2.0% – 20,000,000 MYX): Dedicated to public sale participants through the Binance Wallet IDO event, offering fair community access to the token.
• Reserve (1.8% – 17,963,910 MYX): Held for future use cases, emergency needs, or governance-approved initiatives as the protocol evolves.
How to Trade MYX Finance (MYX) Token on BingX
You can easily trade MYX tokens on BingX through both spot trading and futures trading, depending on your goals and risk appetite, with the added support of BingX AI to help analyze trends and manage risk.
Buy and Sell MYX/USDT on Spot Market
MYX/USDT trading pair on the spot market, powered by BingX AI
Spot trading lets you buy or sell MYX directly at the current market price. To start, log in to your BingX account, search for the MYX/USDT pair, and choose between a market order for instant execution at the best available price, or a limit order where you can set your own price. Once confirmed, your MYX tokens will appear in your BingX wallet, where you can hold, transfer, or sell anytime.
Long or Short MYX/USDT on BingX Futures Market
MYX/USDT perpetual contract on the futures market
For traders looking to amplify potential gains, BingX offers MYX USDT-M futures with leverage. After opening the Futures tab, select MYX/USDT and adjust your leverage level, e.g., 5×, 10×, up to the maximum allowed.
Enter your margin amount, choose long if you expect MYX to rise, or short if you expect a drop, and confirm your order. Always monitor liquidation prices, funding rates, and set stop-losses to manage risk, as futures carry higher volatility than spot trading.
How to Get Started with MYX Finance DEX on Linea
Linea is a fast, low-cost zkEVM Layer-2 network that supports Ethereum-compatible smart contracts, making it ideal for trading on MYX Finance with minimal fees and near-instant confirmations. If you're new to using Layer-2 networks, the Linea ecosystem offers a smooth DeFi experience, especially when paired with MYX’s Seamless Trading system.
Whether you're an experienced derivatives trader or just exploring DeFi, MYX on Linea offers a fast, secure, and intuitive way to access perpetual trading with zero slippage and high capital efficiency. Here's how to use MYX Finance on Linea network:
1. Set Up a Linea-Compatible Wallet: Install a supported wallet like MetaMask or Rabby. Then, manually add the Linea network using the RPC settings from Chainlist.org, or connect automatically via trusted dApps.
2. Fund Your Wallet: You’ll need USDC on Linea to start trading on MYX. The easiest way is to buy USDC on BingX, then withdraw it to your Linea-compatible wallet using a supported network like Ethereum. From there, you can bridge your USDC to Linea using tools like Orbiter Finance, Across Protocol, or the official Linea bridge. Also, keep a small amount of ETH on Linea for gas fees, though most MYX trades are gas-free when using the Seamless Key.
3. Visit the MYX App: Go to https://myx.finance, connect your wallet, and switch to the Linea network. The app will automatically detect your setup and enable trading features.
4. Set Up a Seamless Key (Optional but Recommended): MYX offers a unique Seamless Key system that removes the need for repetitive wallet signatures and manual gas payments. You can create one using your email, phone number, or social login via Particle Network. Once activated, you can trade with the speed and simplicity of a centralized exchange, without giving up custody.
5. Start Trading on MYX: You’re ready to go. Open long or short positions on assets like BTC, ETH, or SOL with up to 50x leverage. You can manage margin settings, monitor funding rates, and view real-time price feeds sourced from Pyth Oracle, all within the same dashboard.
Conclusion
MYX Finance DEX combines CEX-like execution with DeFi transparency, using its Matching Pool Mechanism to reduce slippage and expand access to perpetuals. Its meteoric rally reflects both genuine innovation and heavy speculation.
While the MYX token has captured market attention with strong fundamentals and aggressive growth, traders should remain cautious of short-term downside risks. As with all emerging DeFi protocols, it’s best to start small, research carefully, and manage exposure responsibly.