MYX has closed a strategic funding round led by Consensys as the onchain derivatives protocol prepares to launch MYX V2 and expand its role in omnichain derivatives infrastructure.
Key Takeaways
- Consensys led MYX’s strategic funding round, with Consensys Mesh and Systemic Ventures also participating
- The raise supports MYX V2 and its Modular Derivative Settlement Engine, shifting MYX toward a modular settlement layer others can build on
- MYX V2 adds account abstraction and permissionless oracles to make trading simpler, faster, and more capital efficient
What Happened?
Onchain derivatives protocol MYX announced it has completed a strategic funding round led by Consensys, with participation from Consensys Mesh and Systemic Ventures. The company said Consensys is now the largest investor in MYX, and the new capital will help fund the rollout of MYX V2 and its Modular Derivative Settlement Engine.
The update comes as the derivatives sector on Ethereum and other chains continues to push toward shared infrastructure that can reduce liquidity fragmentation and improve how products settle trades across networks.
Under the radar no more.
— Kong Trading 🦍 (@KongBTC) February 18, 2026
MYX just closed a strategic round led by Consensys with Consensys Mesh and Systemic Ventures joining in. Consensys is now the largest backer on the cap table, right as MYX V2 goes live.
V2 turns MYX from a single perp venue into a modular derivative… pic.twitter.com/JQOiISyC2l
A Shift From Exchange to Settlement Infrastructure
MYX is positioning V2 as a structural change in how onchain derivatives are built. Instead of operating purely as a single destination trading app, MYX V2 is designed to function as a modular settlement layer that other products can integrate into.
In practical terms, this means trading apps, automation tools, and other platforms can plug into MYX settlement rails rather than building the full stack themselves. MYX framed this approach as part of a broader industry move away from isolated derivatives venues toward shared clearing and settlement primitives that can support omnichain activity.
The protocol argues that this model can help address a persistent issue in onchain perps, where liquidity gets spread thin across chains and venues, making execution harder for traders and limiting the depth available for newer assets.
What MYX V2 Adds Under the Hood?
MYX said V2 integrates account abstraction using EIP 4337 and EIP 7702, alongside Chainlink’s latest permissionless oracle stack. The goal is to reduce friction that traders and developers often face in onchain derivatives, including complex transaction flows and slow asset expansion for long tail assets.
The platform is also pitching a more streamlined trading experience, including gasless and one click trading while preserving non custodial control. MYX says these changes are intended to make perps trading feel simpler without handing custody to a centralized intermediary.
Another core change is a Dynamic Margin system that MYX says can support up to 50x leverage without relying on traditional order book depth as the primary driver of execution quality.
The Pitch: Oracle Anchored Pricing and Slippage Reduction
MYX V2 is centered on oracle anchored pricing, which it says can reduce slippage for large orders and lower execution risk for professional traders. The protocol’s message is that traders should not need to wait for deep order books or slowly ladder into positions to avoid poor fills, especially when markets are volatile or new listings are still developing liquidity.
MYX claims that by decoupling liquidity depth from execution quality, it can deliver more predictable fills and potentially lower effective trading costs. It also says this approach can support faster access to newly emerging assets while keeping execution consistent during periods of market stress.
The company described these mechanics as enforced by deterministic economic models, margin design, and conservative security assumptions, rather than being dependent on discretionary market maker behavior.
Why Consensys Backing Matters?
Consensys backing is significant because it signals interest in derivatives infrastructure that sits closer to Ethereum’s core application layer. MYX said the close of the round makes Consensys the largest investor in the protocol, reinforcing MYX’s infrastructure first direction.
MYX CEO Ryan said the goal of V2 is to make onchain perps trading seamless while preserving decentralized sovereignty, pointing to the integration of EIP 7702 and permissionless oracles as key pieces of that plan.
Consensys Senior VP of Corporate Development Ray Hernandez highlighted the idea that derivatives infrastructure needs to evolve beyond siloed venues into modular settlement layers, and said Consensys views capital efficient settlement infrastructure as foundational to the long term health and scalability of Ethereum’s financial ecosystem.
Who MYX V2 Is Built For?
MYX says V2 is designed for a wide range of market participants.
Professional traders are the most direct target, given the focus on high leverage, more predictable execution, and reduced slippage risk. MYX also expects institutional observers to pay attention as a potential new clearing and settlement layer develops within Ethereum’s derivatives stack. For B2B partners, including trading apps and automation platforms, MYX is offering an integration path to access perpetual liquidity without building their own settlement systems.
At the same time, MYX is trying to separate itself from a purely retail speculative narrative. The protocol says V2 is built for sustained derivatives activity, with an emphasis on settlement design, oracle security, and composable integrations.
CoinLaw’s Takeaway
I see this as infrastructure catching up to demand. Perps trading is one of the biggest magnets in crypto, but the user experience and liquidity fragmentation problems have been obvious for years. What I found most interesting here is MYX leaning into a settlement layer model rather than fighting for attention as just another derivatives venue. If MYX can actually deliver predictable execution through oracle anchored pricing while keeping things non custodial, it could become the kind of plumbing that other apps quietly rely on. Consensys stepping in as the largest investor also sends a clear message that modular derivatives infrastructure is becoming a serious focus area, not a side experiment.
