what's mux protocol?
MUX Protocol is a decentralized finance (DeFi) platform designed as a multi-chain leveraged trading aggregator. It enables users to trade perpetual futures with up to 100x leverage across various liquidity sources, including its native pools and integrated protocols like GMX and Gains Network. By dynamically routing orders to optimize for factors such as fees, slippage, price impact, and execution speed, MUX ensures efficient trading experiences with zero counterparty risk for traders through fully collateralized positions. The protocol operates on layer-2 networks like Arbitrum and supports universal liquidity multiplexing, allowing liquidity providers to earn yields while minimizing risks. MUX aggregates positions from multiple decentralized exchanges, providing a unified interface for traders to access deep liquidity without fragmentation. Its architecture emphasizes composability, enabling seamless integration with other DeFi primitives for enhanced capital efficiency. Key mechanics include automated order routing based on real-time market conditions and a native liquidity pool (MUXLP) that incentivizes providers with protocol fees. MUX focuses on perpetual swaps for major assets like BTC and ETH, promoting low-cost, high-leverage trading in a non-custodial environment.
MUX Protocol processed $3M BTC trades at 60x leverage, alongside XAU and XAG trading.
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Processed over $3 million in BTC trades at 60x leverage during a period when traders also traded XAU and XAG assets.
MCB community participates in $200,000 prize pool competition with $5,000 monthly allocation and 100% of rewards directed towards MCB.
Whale activity recorded with single trader executing 110 ETH, 86 ETH, and 15.5 BTC in trades on the platform.
Platform routes $1.1M in trading volume over 24 hours, generating $675 in fees.
A leaderboard competition with $5,000 in prizes (including $2,000 grand prize) runs on the Discord server with 6 days remaining.
Extra Margin Boost feature automatically adds margin behind the scenes when trades are routed across multiple perpetual contracts, reducing liquidation risk at the same leverage.
Trading competition launches with up to $400k in winnings for users routing trades through Gains Network integration this month.
Integration with Gains Network v10 contracts unlocks 277 total trading pairs across Commodities, Indices, Stocks, and Forex.
Platform adds forex trading capability with 1000x leverage through Gains Network routing.
SPK Points Season 2 rewards are active for MUX3LP pools with three tranche options: vanilla LPs, junior leveraged LPs, and senior stablecoin-only neutral vaults with zero directional exposure.
MUX3LP Pool interface now displays SPK points calculation from Spark protocol integration, adding SPK points as a fourth yield stream alongside base sUSDC yield, trading fees, and trader losses.
V3 deploys 5 new sUSDC liquidity pools with 4.75% base yield, trading fee revenue share, and SPK points incentives.
Platform extends 50% off position fees promotion until October 20 with 0% spread and 0% price impact. A trader executed a $10.7M BTC short paying $3.2K in fees (0.0325%), claimed to be lower cost than Binance, Bybit, OKX, GMX, and Hyperliquid.
The Fee Halvening promotion offering 50% off position fees on BTC and ETH trades is extended to October 20, from the original October 13 end date.
A single trader generates $5.23M in 24-hour trading volume, paying only $1.6k in fees (0.031%) on BTC and ETH trades.
Trading fees for BTC and ETH positions are discounted 50% from 0.06% to 0.03% through October 13th, 2025 across V1 and V3 pools.
New high-yield stablecoin farming opportunity launches with 108% APR on USDC deposits converted to sUSDC, backing WLFI perpetual trades through mux3lp-sUSDC-5 pool. Protocol now lists longtail assets natively without routing through GMX or Gains Network, allowing stablecoin LPs to farm exposure without holding underlying assets.
Five new sUSDC MUX3LP pools launch with integrated zap functionality allowing USDC conversion and Spark partnership providing infrastructure and incentives.
WLFI trading launches with 50x leverage through new MUX3LP-sUSDC-5 pool.
Daily trading volume exceeds $100M with new aggregated positions feature routing orders across GMX v2, Gains Network, and MUX protocols.
New PENGU trading pair added with 50x leverage capability through GMX v2 integration.
Recall Campaign offers OG traders 0% spread, 0% price impact on ETH trades, and reduced 0.054% position fees.
Whale executes $1.74M ETH trade with $1,074 fees, demonstrating sustained large-scale trading activity.
New MUX3LP pools enable counter-trading with 100% utilization and leveraged vault amplification.
Whale trader executes $1.14M ETH position with only 0.06% ($725) in total fees.
New aggregation feature enables faster cross-platform trading execution across GMX, Gains Network and platform trades by eliminating extra wallet confirmations.
New aggregator splits orders across GMX, Gains Network and MUX protocols, optimizing fills and liquidation risk on Arbitrum.
sUSDe senior tranche offering 10% base APY plus additional junior tranche yields, with price volatility protection
New single-token LP system enables 100% capital utilization for either longs or shorts, doubling efficiency compared to traditional 50/50 pools, while Morpho integration provides battle-tested lending infrastructure with $2B+ TVL backing.
V3 protocol upgrade introduces 2.5x leverage for Junior Tranche LP positions and combines borrow fees with base yield for Senior Tranches.
Large-scale ETH trades ($850k+) execute with minimal fees ($500 total) and zero price impact, demonstrating efficient protocol performance.
New yield farming opportunity in V3 Senior Tranche combines 5% base yield with borrowing fees for enhanced returns on sUSDe.
New MUX3LP single-token pools feature isolated positions and risk-protected long-tail asset listing capabilities.
Platform extends zero-spread trading to ETH markets with perfect price matching for $70.1k position.
Platform guarantees zero spread and price impact for BTC trades with exact quote matching.
New tranche system launches with dual structure: Senior tranche for stablecoin yield and Junior tranches for altcoin perp LP exposure.
Recall Campaign extends to October 2025, offering 10% fee discount and airdrop for users with $500K+ trading volume since August 2022.
Fee structure now includes 5% base benefits (2.5% rebate + 2.5% discount) with auto-weekly wETH payments and no claiming requirements.
New multi-tier referral system launches with compound discounts across base tier, veMUX holdings, and Recall Campaign benefits.
Platform now supports 50x leverage trading across 269 assets including stocks, forex, and indices.
Zero spread and zero price impact now available for BTC and ETH pairs across gTrade, GMX v1, and MUXLP protocols, enabling same-price execution for orders from $10k to $100k.
Aggregator achieves $80.9M daily volume, capturing over 50% of total perp aggregator market share.
New 3-month trading fee discount of 10% available for all previous traders, stackable with existing discounts.
27,000 MUX tokens distributed to traders with $500k+ volume who started before August 2022.
Trading fee discount of 10% available until August 28 for users with $500K-$1M volume, stackable with 0% spread/impact on BTC/ETH pairs.
Fee discount and airdrop program now available for OG users to claim
Protocol hints at upcoming loyalty rewards for previous users.
MUX3LP pool reaches maximum capacity amid BTC and ETH market surge.
Long/short ratios, OI, utilization, and PNL metrics per asset are visible in pool details, serving as key indicators for whale trading decisions.
Short pools currently offer passive upside exposure through LP positions without direct long exposure.
Protocol achieves $52B in cumulative trading volume on Arbitrum.
New V3 upgrade launches with zero-cost trading while demonstrating 71% market share of Arbitrum's $1.8B monthly perps volume.
Major V3 upgrade launches with zero price impact trading for BTC/ETH and single-asset liquidity provision.
Major protocol upgrade introduces first aggregator built for both traders and LPs in perp markets.
Daily volume reaches $91.7M with zero spread and zero price impact for BTC perpetual trading.
Cross-DEX aggregator launches with one-click trading and cross-margin capabilities.
1-click trading goes live, enabling cross-DEX scalping with aggregated positions and cross-margin mode.
Trading volume spikes to $440M in 24 hours with $407M routed to GMX v2, marking significant increase from previous week's activity.
New aggregator routes trades through multiple protocols (GMX v1, v2, MUXLP) to optimize fees and execution.
ETH staking rewards surge from 101% to 141% APR for holders.
Trading volume surges to $500M weekly pace with three consecutive $100M+ days, marking highest activity since July 2024.
Large trader closes ETH short position and realizes $6.16M profit in 24 hours.
Protocol gains 4.98M in Arbitrum DAO voting power, ranking second among weekly delegate increases.
Trading volume maintains 3-day streak above $100M, projecting highest weekly volume since July 2024 at $500M.
Weekly trading volume approaches $500M, indicating significant market activity spike.
Daily trading volume exceeds $100M, marking return of high-liquidity trading conditions.
Daily trading volume reaches $121.6M, demonstrating significant protocol usage and market activity.
V3 release featuring isolated risk per asset, improved capital efficiency (80%+ vs 50% utilization), and LPs earning both native yield and trading fees.
V3 successfully audited by Guardian Audits, joining projects like Orderly, Yuga Labs, Gamma Strategies, GMX, and Synthetix.
MUX v3 launching soon, integrating ChainLink price feeds and 1-click trading with pre-loaded gas for instant orders. Protocol is a leading Perps aggregator aiming to gain larger share of derivatives market which hit $5.3b this cycle.
Launching v3 with features including stable yield, looping, trading majors, and long-tail assets through single-asset liquidity pools.