# Keeper Network
## The MYX Keeper Network
#### A permissionless execution layer
### 1 | Why It Matters
Growth in on‑chain derivatives has been explosive, yet one piece of the puzzle stayed opaque: **who actually settles a trade**.
* CEXs hide a private matching engine.
* Many DEXs rely on a single sequencer or team‑run bot.
* Users have no way to prove their order wasn’t delayed, censored, or quietly front‑run.
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**MYX** fixes that with three public pillars:
| Pillar | What it solves |
| --------------------- | ------------------------------------ |
| Open‑source contracts | Rules are immutable and auditable. |
| Tamper‑proof oracles | Prices can’t be spoofed or “wicked.” |
| Keeper Network | Execution is no longer a black box. |
This article focuses on the Keeper Network—how it works, why it secures fair trading across every chain MYX supports, and how **you** can share in the upside.\
### 2 | Keeper‑Network
*Smart contracts* define the rules. *Oracles* provide the truth. **Keepers**—elected community nodes—turn rules and truth into executed trades.Key numbers:
* **21 active nodes** per epoch (one week) *Enough to survive seven bad actors, light enough to clear within a single L2 block.*
* **≥ 300 000 MYX** staked to register as a candidate *Skin‑in‑the‑game deters spam and funds slashing.*
* **Weekly rotation** keeps power fluid; stake caps stop whales from buying control.
### 3 | What Keepers Do
| Obligation | Why it matters to traders |
| ----------------------------------- | -------------------------------------------------- |
| Listen to every new order | No order is “lost in the mempool.” |
| Upload fresh index prices | Liquidations use a publicly verifiable price. |
| Trigger trades on time | No artificial delays; latency is provably fair. |
| Record price & position history | Every fill can be audited later. |
| Assign correct VIP & referral tiers | Fee discounts and rebates are honoured chain‑wide. |
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When a keeper fulfils those duties, it earns:
* **Execution rebate** (covers gas)
* **Share of trading fees**
* **MYX buy‑back rewards**—the protocol spends part of fee revenue to purchase MYX on‑chain and redistributes it to nodes and their delegators.
### 4 | Comparative lens: how other DEXs handle execution
| Protocol | Executor model | Downsides |
| ----------------------------------- | ------------------------------------------------------ | ----------------------------------------------------------------------- |
| Central‑limit order books on Solana | Single cranker | Cranker can censor; chain congestion affects all pairs. |
| RFQ‑based perp AMMs | Off‑chain relayer network run by team | Implicit trust in relayer fairness. |
| Roll‑ups with central sequencer | One address per L2 until shared sequencer tech matures | Potential MEV and downtime risk if sequencer offline. |
| MYX | 21 rotating keeper nodes, no KYC | Needs staking capital, but capital earns yield and is open to everyone. |
In short, MYX is the first to blend CEX‑like matching speed with a fully open executor set.
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### 5 | Joining the Club: Candidacy & Election
#### 5.1 Stake to Enter
Any wallet that stakes **≥ 300 000 MYX** instantly becomes a **candidate**—no forms, no gatekeepers.
#### 5.2 Delegation Power
Users who don’t want to run servers simply delegate their $MYX to a candidate. Delegation is non‑custodial; tokens stay in your wallet‑contract and can be undelegated any time.
#### 5.3 Weekly Snapshots
Every week a snapshot sorts candidates by **node‑power** (your stake + delegations). The **top 21** enter the active set for the next epoch. Everyone else can withdraw or keep campaigning.
#### 5.4 Stake Caps & Rotation
A hard cap on effective stake stops whales from monopolising rewards. Because snapshots happen weekly, hundreds of wallets can rotate through the active set each quarter—true openness without lag.
### 6 | Slashing & Governance
Misbehaviour—late orders, wrong prices, bad VIP/referral data—can be proven on‑chain and submitted to a DAO vote.
| Offence | Default penalty |
| ------------------------ | -------------------------------- |
| Missed order | Burn 3 % stake + exit active set |
| Wrong price or ADL | Burn 10 % stake |
| Incorrect VIP / referral | Burn 1 % stake |
Repeat or coordinated abuse scales up to 100 % burn. **10 %** of any slashed stake goes to the whistle‑blower; the rest is burned forever, tightening MYX supply.\
### 7 | A Unified Liquidity Layer
Because every keeper watches **all** chains where MYX lives, the network opens up for further possibilities:
* Collateral on BNB, trade on Linea, hedge on Arbitrum—keepers bridge margin deltas under the hood.
* Depth flows to where opportunity is best, not where siloed infrastructure forces it to stay.
### 8. Token‑economic implications for $MYX
#### 8.1 Utility
* Staking to register or delegate is non‑optional.
* Governance: future upgrades (e.g., raise stake cap, change reward splits, add chains) are gated by token vote.
#### 8.2 Yield
Annual yield comes from three funnels:
1. Trading‑fee share.
2. Weekly buy‑back yield.
3. Liquidation‑penalty share.
Assuming $0.0003 average taker fee, 3 % net protocol fee, 1 bps daily volume/TVL, and a 60 % payout ratio, the APR can rival mid‑tier PoS chains even before liquidity mining.
#### 8.3 Scarcity fly‑wheel
* Slashing burns supply.
* Buy‑backs lock supply into staking contracts.
* Demand for stake scales with open interest.
Therefore token velocity drops while protocol revenue rises — a textbook reflexive loop.\
### 9 | How *You* Can Participate
| Role | What to Do Right Now | Why It Pays |
| -------------------- | ------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------- |
| Run a node | 1) Prepare ≥ 300 000 MYX. 2) Stake & register 3) Campaign for delegators | Earn trading fees + buy‑back yield + execution fee rebate. |
| Delegate | 1) Hold $MYX. 2) Browse the election dashboard. 3) Stake to a candidate with solid uptime and fair fee share. | Earn buy‑back yield without running servers. |
| Trader | 1) Deposit collateral on any MYX chain. 2) Open positions. | Enjoy CEX‑grade speed and provably fair fills. |
| Researcher / Auditor | 1) Review contracts & keeper code. 2) Submit issues. | Bounty programme pays for critical findings. |
*Registration for Epoch #1 opens next week. There is no whitelist—only code and a ledger.*\
### 10 | Looking Ahead
Imagine a memecoin launching on Chain A at noon and, by 12:05, its perp trading on MYX—no listing committee, no gatekeepers. Imagine hedging a strategy across six chains with a single click because keepers bridge collateral for you. That is the liquidity layer MYX is building.Whether you spin up a node, delegate, or simply place a trade, the future of on‑chain derivatives is now in your hands. **See you in the election dashboard.**