# 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.
\ **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. |
\ 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. ### ### 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.** --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://myxfinance.gitbook.io/myx/protocol/keeper-network.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.