MYX Finance

MYX Finance receives a C+ risk grade (41/100) from Hindenrank, where lower scores indicate lower risk. Elevated risk — novel pool mechanics and cross-chain trading introduce untested dynamics, partially offset by growing trading volume and multi-chain reach. MYX Finance is a decentralized perpetual futures exchange with $20M TVL, offering zero-slippage trading via its novel Matching Pool Mechanism (MPM) across BNB Chain, Linea, and Arbitrum. Its C+ grade reflects novel and untested pool mechanics, cross-chain complexity, and oracle dependency for leveraged positions up to 50x, offset by the protocol's growing adoption with $10B+ monthly volume.

The key risks identified for MYX Finance are: (1) The Matching Pool Mechanism (MPM) matches long and short positions internally, but when more traders are on one side, pool liquidity providers absorb the imbalance as losses. During strong trending markets, LP losses can be significant. (2) MYX allows trading across multiple chains without bridging assets, relying on cross-chain messaging. If messaging is delayed during volatile periods, traders may be unable to close positions in time. (3) With up to 50x leverage available, small price movements can lead to rapid position liquidation. Oracle delays or manipulation could trigger incorrect liquidations.

MYX Finance scores 41/100 across eight risk dimensions: Mechanism Novelty: 6/15, Interaction Severity: 6/20, Oracle Surface: 5/10, Documentation Gaps: 4/10, Track Record: 6/15, Scale Exposure: 5/10, Regulatory Risk: 5/10, Vitality Risk: 4/10. The highest risk area is Oracle Surface at 5/10.

Among 53 rated Derivatives protocols on Hindenrank, MYX Finance ranks #36 by safety (lowest risk score = safest). Its 41/100 risk score and C+ grade place it in the middle tier of Derivatives protocols.

MYX Finance scores 6/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.