This wave of BSC hype, CZ has interacted multiple times with Perp DEX projects 👀

In the same track, KiloEx launched its Binance IDO at the end of March. Aster and KiloEx are currently ranked TOP2 and TOP3 in TVL within the BSC ecosystem Perp DEX sector, with $MYX Finance holding the highest TVL right now.

In April, Binance launched a total of 8 IDO projects and 6 Alpha airdrop projects. Coupled with the current support for the BSC ecosystem, we might soon see these projects' TGE happening together hahaha 😆 KiloEx and Aster have been introduced before; this time, let’s briefly talk about $MYX Finance (@MYX_Finance). During the May Day holiday, their official tweet said “Coming Soon,” so here we go.

You might find this name unfamiliar—that’s normal. Its TVL surged after launching on BSC network on 03.19, jumping from $10 million directly to $42.16 million, quadrupling and surpassing the two projects mentioned above (link: https://t.co/2mARjbgK1z). The reasons for this data increase are quite understandable:

1️⃣ From the project perspective: They launched exclusive points / fee reduction activities to stimulate trading.
2️⃣ From the community perspective: BSC ecosystem is booming, providing airdrop opportunities for participants in a hot track new project.
3️⃣ From the ecosystem perspective: BNB Chain definitely hopes for more ecosystem partners, with multiple interactions and traffic diversion.

Additionally, $MYX has quickly launched on-chain contracts for many hot new tokens on BSC, such as $RFC / $DARK / $HOUSE / $TROLL, attracting many Meme players.

Their roadmap mentions their goal to become “the Uniswap of Perp DEX,” with the slogan “Democratize Alpha for ALL,” and plans to expand into the Solana market. This idea is quite interesting. Currently, meme coin lifecycle generally involves launching on platforms like https://t.co/Ewxjd5XkxK, then listing on CEX contracts, followed by spot trading on CEX. But before CEX support, there’s a vacuum period where token market cap, trading volume, and community heat are still growing. $MYX aims to capture this contract trading window, giving retail investors a chance to seize early Alpha and amplify gains.

Roadmap link 👉 https://t.co/kbR3vF7tpI

Back to the project itself: $MYX launched on mainnet in February 2024. In March, they announced a funding round with about $10M raised at a $120M FDV. Leading investor is Sequoia China, with participation from Foresight, GSR, ConsenSys, and others. When they announced the funding, they also mentioned a Q1 TGE (likely delayed due to market conditions…).

For comparison, the market caps in the same sector are: KiloEx with a market cap of $8.15M and FDV of $38.51M; dYdX with a market cap of $515M and FDV of $592M; Hyperliquid with a market cap of $6.85B and FDV of $20.5B. If they choose a good TGE timing, becoming the top BSC Perp DEX shouldn’t be a problem. Let’s see how the subsequent data performs.

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