Phase 1 Testnet Successfully Concludes: A Look Back and Gratitude
The Phase 1 Testnet on Linea has been successfully concluded, and we extend our gratitude to all participants. Following the end of Phase 1, we will immediately launch a significant event, so stay tuned!
Achievements
Our MPM mechanism performed exceptionally well, achieving a capital efficiency of 28x and a capacity of trading volume of 228x. This high efficiency has driven our LP 7-days APY(annualized) to exceed 1100%. Additionally, our platform attracted 18,000 users, with a total trading volume reaching $21 billion, reflecting the market’s high recognition and trust in our platform. These achievements during the testing phase highlight the immense potential and strength of our platform.
MPM Mechanism’s Successful Validation
During our Testnet, the MPM mechanism was not only thoroughly validated but also showcased impressive results. Achieving a capital efficiency of up to 28x, this significant accomplishment not only highlights our exceptional capital utilization but also reveals our tremendous potential. Furthermore, we provided users with a trading experience featuring zero slippage and no lending fees. While these achievements are noteworthy, for MYX, they represent just the beginning. We are dedicated to continuously exploring and breaking new ground to deliver an even more efficient trading experience for our users.
Product Optimization
In the course of the Testnet, we initiated a Bug Bounty Program, specifically designed to encourage and reward community members for their active participation and in identifying potential vulnerabilities. This initiative aimed not only to stimulate user engagement but more importantly, to harness the collective wisdom of our community to refine our product and enhance the user experience. Adhering to a user-centric philosophy, we regard every piece of user feedback and bug report as invaluable for our ongoing improvement. This close interaction and feedback are crucial for building a more stable, secure, and user-friendly trading platform.
Shell Asset Handling Approach
To protect our platform users’ interests before moving to the next stage of development, we conducted a snapshot on December 7th at 18:00. This process ensures the safety and integrity of each user’s shell assets, designed to maximally protect user assets and rights, while maintaining the completeness and accuracy of our platform data.
Progressing Toward the Phase 2 Testnet
The Phase 1 Testnet concluded successfully on December 7th at 18:00, marking a fitting time for us to momentarily pause, reflect, and deeply analyze our journey. This pause is vital for integrating the valuable data and feedback we’ve gathered, ensuring the stability and innovation of our upcoming versions. Looking ahead, we plan to integrate the Arbiturm network and introduce an even more advanced, feature-rich Phase 2 Testnet. This new version will bring a suite of improvements and optimizations, aimed at enhancing user experience and expanding the boundaries of our services.
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For collaboration: marketing@myx.finance
