Brothers, let's talk about the $MYX Finance project! It's the first to play 'chain abstraction' in derivatives trading, aiming to solve two major problems in DeFi: high barriers to entry and institutional monopolization.
It has created a unique MPM matching pool mechanism, along with a unified account system, allowing us to trade across multiple chains without switching wallets or signing, and we don't even have to pay gas fees. The experience is quite similar to using centralized exchanges (CEX), making it particularly friendly for newcomers.
Let's talk about the price. The period from August 3 to 5 this year was absolutely crazy! MYX surged from $0.1 directly to $2, with a single-day increase of up to 336%, and it almost multiplied by 20 in just two days. Why did it rise so sharply? Because it announced a more advanced V2 version that can integrate Solana and support cross-chain margin trading, plus Bitget announced spot trading for it, which led to an influx of money. Additionally, its node mechanism also made everyone feel that the tokens would deflate, making them more valuable.
But good times didn't last long; on August 7, it crashed - early investment firm Hack VC directly dumped and sold, causing panic in the market, and the coin price plummeted, with much of the previous gains being lost.