MYX, a decentralized perpetual contract exchange incubated by D11 Labs, announced the completion of a $5 million seed round of financing with a valuation of $50 million. This round of financing was led by HongShan (formerly Sequoia China), with participation from Consensys, Hack VC, OKX Ventures, Foresight Ventures, Redpoint China, HashKey Capital, GSR Markets, Alti5, Leland Ventures, Cypher Capital, Bing Ventures, Lecca Ventures, and others. The funds raised in this round will be used to accelerate MYX's technological innovation and market expansion, and to promote the rapid launch and scaled development of its mainnet products.At the same time, MYX announced that it will soon launch a Treasure Hunting Event to incentivize and reward early supporters in the community. This event will continue until the end of the TGE, with the first phase about to begin and consideration given to deploying key early plot certificates on the BRC-20 network.According to RootData, MYX is a decentralized perpetual contract exchange that uses a unique MPM mechanism to achieve zero slippage trading and efficiently match long and short positions, with a capital efficiency of up to 125 times, committed to breaking through the bottleneck of on-chain capital efficiency.

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