Introducing MYX Seamless Trading
The journey to creating a truly seamless trading experience has been one of immense technical innovation and rigorous refinement. At MYX, our goal has always been to combine the security and decentralization of DeFi with the usability of CEXs—without compromising on either. Enter the MYX Seamless Key, a feature that abstracts cryptography from the user to create a trading experience that feels effortless yet remains inherently secure.
A Seamless New Experience
Trading with MYX is now simpler than ever. Here’s how we’ve reimagined the user experience:
Trade Anywhere, Anytime: Once set up, you can enjoy trading directly from any browser without needing to access the dApp via a crypto wallet. The days of manually signing every transaction and switching between apps are over.
Signing-Free Convenience: No more tedious confirmations. The seamless key enables you to execute trades without repetitive signing, making the process faster and more intuitive.
Gas-Free Setup and Transactions: Forget upfront ETH. All necessary operations—including setup and trading—are gas-free, with fees seamlessly deducted in USDC based on the past week’s average gas costs.
The result is a trading experience that mirrors the fluidity of centralized exchanges, yet remains grounded in the self-custody ethos of DeFi.
For New Users: Your Web3 Journey Starts Here
If you’re completely new to Web3, MYX makes it incredibly easy to get started. Our integration with Particle Network allows you to create a wallet effortlessly using your social logins, phone number, or email. Here’s how it works:
Wallet Creation: Sign up with your preferred method (social login, phone, or email). Particle Network securely manages your keys while ensuring decentralization and ease of access.
Buy USDC as Collateral: Use the built-in Buy function to purchase USDC with a credit card directly in your wallet, making onboarding as smooth as possible.
Set Up a Seamless Key: Once your wallet is funded, you can set up a Seamless Key to begin trading with MYX’s cutting-edge features.
What is the MYX Seamless Key?
At the core of this innovation lies the MYX Seamless Key, an EVM-compatible key that acts as your delegated trader. Here’s what makes it special:
Encrypted with Your Password: The seamless key is generated and encrypted using the same password that creates it. This ensures security and accessibility while maintaining user control.
Decentralized by Design: The key adheres to cryptocurrency standards, generated and stored locally on your device. It can be regenerated anytime using your Master wallet and password.
API-Ready Flexibility: Seamless keys can be used as API keys, enabling trusted arrangements where professional traders or automated systems trade on your behalf.
Complete User Control: Users can associate multiple seamless keys to a single account, manage their permissions, or revoke authorization at any time directly from their Master wallet.
Non-Custodial by Design: The key carries no assets—Your assets remain securely stored in your Master wallet, which can even be a hardware wallet.
The Technology Behind Seamless Trading
The seamless trading feature is a result of robust cryptographic engineering, ensuring that security and usability coexist. Let’s break it down:
Generating the Seamless Key
The Master wallet signs a password message, creating a signed string.
This string is used as a seed to generate an EOA (Externally Owned Account) private-public key pair.
The private key is encrypted using the same password and stored locally on the user’s device.
Gas-Free Setup
To set up your Seamless Trading, simply deposit some USDC in your Master wallet, no gas needed.
Your Master wallet signs a message authorizing the seamless key for the MYX trading contract. This message is gas-free, with fees sponsored by the MYX relayer.
An ERC20 permit for USDC is created, also gas-free, enabling seamless fee collection without upfront ETH.
Using the Seamless Key
Unlock the key by entering your password. This generates a wallet in memory for temporary use.
The wallet is automatically destroyed upon session expiration, refresh, or extended inactivity.
Relayer-Supported Transactions
Trades are signed locally using the seamless key and sent to the MYX relayer, which sponsors the gas and broadcasts the transaction. This design eliminates the need for users to hold ETH or manage gas fees.
Why It’s Secure by Design
Order Nonce for Integrity: Each seamless key is assigned a unique order nonce within MYX’s smart contract. This ensures transactions are processed in the correct order, ensuring no duplicates or unauthorized replays.
Time-Restricted Transactions: Signed messages include a limited validity window, minimizing risks if intercepted by malicious actors.
No Economic Incentive for Attacks: The key’s design, which carries no assets, makes compromising it economically unviable for attackers. Even if a private key is exposed, user assets remain untouched and secure within the Master wallet.
Why the MYX Seamless Key Matters
The seamless key isn’t just a feature; it’s a paradigm shift for DeFi. Here’s why it’s transformative:
Uncompromised Security: Decentralized, encrypted, and non-custodial, the seamless key ensures that user assets are never at risk.
Unparalleled Convenience: No wallets, no gas fees, no signing—just fast, intuitive trading.
True Modularity: It works across browsers and devices, seamlessly integrating into diverse trading workflows, including API-driven systems.
Future-Ready: This architecture enables MYX to offer a CEX-like trading experience while staying decentralized, scalable, and adaptable to evolving user needs.
A Glimpse into the Future
With the MYX Seamless Key, we’re not just removing barriers—we’re redefining what’s possible in decentralized trading. It’s the first time cryptography has been so elegantly abstracted, allowing users to experience the power of DeFi without its complexity.This is MYX’s vision: decentralized at its core, seamless in every interaction.
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