Mux.Network

2022

Founded

Last Updated Mar 15, 2023 | Affiliate Disclosure

Review

What Is Mux Network?

Mux.Network is a decentralized exchange that says users can trade cryptocurrency with zero price impact, up to 100x leverage, and aggregated liquidity. The platform is non-custodial, meaning that users trade directly via their Web3 wallet, giving them complete control over their assets. It takes seconds to connect your wallet and start trading since no signup process is required.

On the protocol, traders can buy, sell, long or short 7 markets including ETH, BTC, AVAX, BNB, FTM, LINK, and UNI. You can also post collateral from 9 sources, most of which are stablecoins. Mux Network is backed by well-known organizations such as Binance Labs and Multicoin Labs.

Key Features:

Self-Custody: As a decentralized exchange, no signup or KYC is required. Users trade directly via their Web3 wallet, giving them complete control over their assets.
Up to 100x Leverage: Users can amplify their trading power with leverage options up to 100x. Currently, you can post collateral with 9 different tokens and trade 7 markets including ETH, BTC, AVAX, BNB, FTM, LINK, and UNI.
Aggregated Liquidity: Mux can aggregate liquidity from third party protocols to offer a more consistent and well-priced trading experience.
Earn Rewards: Users can earn rewards by providing liquidity to the platform. This is done by buying and staking MUXLP, the protocol's liquidity provider token. By staking MUXLP, you can earn protocol income and MUX rewards. You can also stake MCB, more on this below.
Multi-Chain Support: Users can trade on Arbitrum, BNB Chain, Fantom, and Avalanche.

Trading Dashboard

Mux offers up to 100x leverage and aggregated liquidity from platforms like GMX and more. The protocol includes multiple collateral options, limit and trigger orders, and other trader-friendly features. Currently, you can post collateral from 9 sources including USDC, USDT, ETH, DAI, BTC, FTM, BUSD, LINK, and UNI.

You can long or short 7 markets including ETH, BTC, AVAX, BNB, FTM, LINK, and UNI with more to come in the future. You can view Mux Network stats here and liquidity info here.

Mux Fees

Mux has a fixed 0.10% trading fee which is similar to GMX but higher than ApeX. You can view the official fee structure here and here is a summary:

Open Fee: 0.10% × Asset Price × Position Size
Close Fee: 0.10% × Asset Price × Position Size
Liquidation Fee: 0.10%
Maintenance Margin Rate: 0.50%

Spreads

ETH: 0%
BTC: 0%
BNB: 0.12%
AVAX: 0.12%
FTM: 0.12%

Providing Liquidity

On Mux, you can earn rewards by providing liquidity to the platform. This is done by buying and staking MUXLP, the protocol's liquidity provider token. By staking MUXLP, you can earn protocol income and MUX rewards.

Staking

On Mux Network, you can also earn rewards by staking MCB. When you stake MCB, you will receive veMUX, which can be used to earn protocol income and MUX rewards. To stake your tokens, simply purchase MCB and select a lock time of between 2 weeks and 4 years. The longer you lock your tokens, the more rewards you will receive. Staking your tokens on Mux Network is a simple way to earn additional income while supporting the platform.

Tokens

The Mux protocol utilizes 4 different tokens which can get a bit confusing. Here is a brief overview:

MCB: This is the main token of the Mux Protocol. When users lock their MCB, they receive veMUX which allows them to earn protocol income and MUX rewards.
MUX: This is a non-transferable reward token that can be earned by holding veMUX or staking MUXLP.
veMUX: This is the governance token of the Mux Protocol that provides voting power. When users hold veMUX, they are entitled to protocol income and MUX rewards. veMUX tokens are minted when users lock their MCB or MUX.
MUXLP: This is the liquidity provider token for the Mux Protocol. When users stake MUXLP, they earn protocol income and MUX rewards.