PANews reported on November 28 that according to The Block, MYX, a crypto derivatives protocol incubated by D11 Labs, announced that it had completed a $5 million seed round of financing with a valuation of $50 million, led by HongShan (formerly Sequoia China), and participated by Consensys, Hack VC, Foresight Ventures, Redpoint China, HashKey Capital, GSR Markets, Alti5, Leland Ventures, Cypher Capital, Bing Ventures, Lecca Ventures, etc. The funds raised in this round will be used to accelerate MYX's technological innovation and market expansion, and promote the rapid launch and large-scale development of its mainnet products.

At the same time, MYX announced that it will launch the Treasure Hunting Event to incentivize and reward early supporters in the community. The event will last until the end of TGE. The first phase is about to start, and it is considering deploying key early plot vouchers on the BRC-20 network. It is reported that MYX is a decentralized perpetual contract exchange that uses the original MPM mechanism to achieve zero slippage transactions and efficiently match long and short positions.