{"id":"mark-zhang","title":"Mark Zhang","content":"**Mark Zhang**, also known as Yihao Zhang, is the founder and Chief Executive Officer (CEO) of the decentralized derivatives protocol, [MYX Finance](https://iq.wiki/wiki/myx-finance). He has a professional background in derivatives and trading systems from his time in leadership roles at centralized [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchanges Huobi and OKEx. [\\[1\\]](#cite-id-3x0JuZHG5w) [\\[2\\]](#cite-id-u8KrVZha9a)\n\n## Education\n\nMark Zhang earned a Bachelor of Science degree in Finance from the University of Oregon’s Lundquist College of Business, where he studied from 2013 to 2016. [\\[13\\]](#cite-id-2Z3d8hvYTN)\n\n## Career\n\nMark Zhang's career in the digital asset industry includes leadership positions at prominent centralized exchanges (CEXs) such as Huobi (now [HTX](https://iq.wiki/wiki/huobi)) and OKEx. At Huobi, he served as the head of futures products, gaining expertise in trading system architecture, liquidity design, and derivative product strategy. This experience informed his subsequent work in the decentralized finance (DeFi) sector. [\\[3\\]](#cite-id-40o4XRFbMJ) [\\[4\\]](#cite-id-YFbfSGhrnu) [\\[1\\]](#cite-id-3x0JuZHG5w)\n\nIn 2023, Zhang founded MYX Finance, a decentralized exchange specializing in perpetual contracts, and assumed the role of CEO. The project was incubated by D11-Labs and officially launched its platform in February 2024. Under his leadership, [MYX Finance](https://iq.wiki/wiki/myx-finance) secured significant venture capital funding to support its development. In November 2023, the company announced a $5 million seed round led by HongShan (formerly Sequoia China) at a $50 million valuation. This was followed by an additional $5 million strategic round in February 2024, bringing the total capital raised to $10 million. Other notable investors across both rounds included Consensys, [Hack VC](https://iq.wiki/wiki/hack-vc), [OKX](https://iq.wiki/wiki/okx) Ventures, HashKey Capital, and GSR Markets. Zhang stated that the capital would be used for user education and the development of the platform's trading tools. [\\[3\\]](#cite-id-40o4XRFbMJ) [\\[4\\]](#cite-id-YFbfSGhrnu) [\\[5\\]](#cite-id-FrmHObzAEI)\n\nAs CEO, Zhang has publicly articulated the company's vision, emphasizing a commitment to improving user experience and community engagement. In a July 2024 statement, he said, \"MYX Finance is at the forefront of third-generation [DDEX](https://iq.wiki/wiki/ddex) innovation, and the [MYX Finance](https://iq.wiki/wiki/myx-finance) team is committed to refining it for an optimized user trading experience. We highly value the support of our users and community members.\" By July 2024, the platform reported having over 33,000 users and a daily trading volume exceeding $200 million. [\\[6\\]](#cite-id-RKAA9sPNow)\n\n## Controversies\n\nDuring his tenure as CEO of [MYX Finance](https://iq.wiki/wiki/myx-finance), Zhang has publicly addressed several controversies related to the project's tokens and operations.\n\n### BMYX Token Incident\n\nBetween December 2023 and August 2024, [MYX Finance](https://iq.wiki/wiki/myx-finance) faced significant community backlash regarding its BMYX token, which Zhang described as \"an attempt for our [EVM](https://iq.wiki/wiki/ethereum-virtual-machine-evm) ecosystem project to enter the [BTC](https://iq.wiki/wiki/bitcoin-btc) network.\" The issues began in December 2023 with community concerns about the fairness of the [BRC-20](https://iq.wiki/wiki/brc-20) token's initial deployment. The situation escalated in March 2024 when a member of the MYX operations team made \"inappropriate remarks\" toward a key opinion leader (KOL), prompting a formal public apology from Zhang.\n\nIn May 2024, Zhang issued another apology, acknowledging that the company had failed to properly communicate its compensation plan to the Chinese-speaking community, leading to sustained negative sentiment. To address the issues, [MYX Finance](https://iq.wiki/wiki/myx-finance) initiated a three-phase compensation plan for BMYX holders. The first installment involved an [airdrop](https://iq.wiki/wiki/airdrop) of 6,000,000 MYX tokens. The process concluded in August 2024 with the third and final phase of compensation, which was settled in [USDT](https://iq.wiki/wiki/tether). Throughout the incident, Zhang maintained that the team had not sold any of its BMYX tokens. [\\[7\\]](#cite-id-ykh0fEtT19)\n\n### MYX Protocol Concerns\n\nThe [MYX Finance](https://iq.wiki/wiki/myx-finance) protocol and its native token have also been the subject of external criticism. Some market analysts raised concerns about potential market manipulation and wash trading activities on the platform. Following a significant price increase for the MYX token in September 2025, some critics suggested the rally was not supported by fundamentals, pointing to a high valuation and what they described as low developer activity and weak community engagement. Concerns were also noted regarding the token's supply, with a large portion scheduled to be unlocked in subsequent years, posing a potential risk of price dilution. [\\[8\\]](#cite-id-Pk5wQdc5Zt) [\\[1\\]](#cite-id-3x0JuZHG5w)","summary":"Mark Zhang, also known as Yihao Zhang, is the Founder and CEO of MYX Finance, a decentralized derivatives exchange. He previously held leadership roles at centralized exchanges like Huobi and OKEx, specializing in derivatives and trading systems.","images":[{"id":"QmSrWvWnPQe7KSeAPyD9jrWaX5xs8KPLSi4KGosm19fNx2","type":"image/jpeg, image/png"}],"categories":[{"id":"people","title":"people"}],"tags":[{"id":"PeopleInDeFi"},{"id":"Founders"},{"id":"Developers"},{"id":"Organizations"}],"media":[{"id":"QmUnNw8238zY3kv5nbB97XbWKqRPRGYj3vKKmoF2LXm9N7","name":"ZrNEF69p_400x400.jpg","caption":"","thumbnail":"QmUnNw8238zY3kv5nbB97XbWKqRPRGYj3vKKmoF2LXm9N7","source":"IPFS_IMG"},{"id":"QmdcK8orwpdoNCEdc7cmH7Fq73qNNeMY8d13xyP84oU6oP","name":"1534060437515.jpeg","caption":"","thumbnail":"QmdcK8orwpdoNCEdc7cmH7Fq73qNNeMY8d13xyP84oU6oP","source":"IPFS_IMG"}],"metadata":[{"id":"references","value":"[{\"id\":\"3x0JuZHG5w\",\"url\":\"https://investx.fr/en/crypto-investing/exchange/myx-finance/\",\"description\":\"Profile of Mark Zhang\",\"timestamp\":1759951006061},{\"id\":\"u8KrVZha9a\",\"url\":\"https://www.rootdata.com/member/Mark%20Zhang?k=MTcwMzg%3D\",\"description\":\"RootData profile for Mark Zhang\",\"timestamp\":1759951006061},{\"id\":\"40o4XRFbMJ\",\"url\":\"https://www.theblock.co/post/262545/crypto-derivatives-protocol-myx-raises-5-million-in-seed-led-by-sequoia-china\",\"description\":\"The Block report on MYX funding\",\"timestamp\":1759951006061},{\"id\":\"YFbfSGhrnu\",\"url\":\"https://www.bitget.com/news/detail/12560604740829\",\"description\":\"Bitget research report on MYX Finance\",\"timestamp\":1759951006061},{\"id\":\"FrmHObzAEI\",\"url\":\"https://www.theblock.co/post/305861/myx-finance-launches-project-origin-season-3-the-silurian-period-with-generous-rewards-for-supporters\",\"description\":\"MYX Finance launch and incubator information\",\"timestamp\":1759951006061},{\"id\":\"RKAA9sPNow\",\"url\":\"https://www.accessnewswire.com/newsroom/en/business-and-professional-services/myx-finance-launches-project-origin-season-3-era-of-zeal-airdrop-889861\",\"description\":\"Mark Zhang quote on company vision\",\"timestamp\":1759951006061},{\"id\":\"ykh0fEtT19\",\"url\":\"https://x.com/myxmarkz\",\"description\":\"Mark Zhang's public statements on X\",\"timestamp\":1759951006061},{\"id\":\"Pk5wQdc5Zt\",\"url\":\"https://stealthex.io/blog/myx-finance-price-prediction-is-myx-coin-a-good-investment/\",\"description\":\"Analysis of MYX token and market concerns\",\"timestamp\":1759951006061},{\"id\":\"event-founded-myx-finance-link\",\"description\":\"Event link\",\"url\":\"https://www.theblock.co/post/262545/crypto-derivatives-protocol-myx-raises-5-million-in-seed-led-by-sequoia-china\",\"timestamp\":1759951006429},{\"id\":\"event-led-$5m-seed-funding-round-link\",\"description\":\"Event link\",\"url\":\"https://www.theblock.co/post/262545/crypto-derivatives-protocol-myx-raises-5-million-in-seed-led-by-sequoia-china\",\"timestamp\":1759951006429},{\"id\":\"event-launched-myx-finance-platform-link\",\"description\":\"Event link\",\"url\":\"https://www.accessnewswire.com/newsroom/en/business-and-professional-services/myx-finance-launches-project-origin-season-3-era-of-zeal-airdrop-889861\",\"timestamp\":1759951006429},{\"id\":\"event-managed-bmyx-compensation-plan-link\",\"description\":\"Event link\",\"url\":\"https://x.com/myxmarkz/status/1820661831338365298\",\"timestamp\":1759951006429},{\"id\":\"2Z3d8hvYTN\",\"description\":\"LinkedIn: Mark Zhang\",\"timestamp\":1759956657019,\"url\":\"https://www.linkedin.com/in/markzhang0130/\"}]"},{"id":"twitter_profile","value":"https://x.com/myxmarkz"},{"id":"website","value":"https://app.myx.finance/"},{"id":"linkedin_profile","value":"https://www.linkedin.com/in/markzhang0130"},{"id":"commit-message","value":"\"docs: Create wiki article for Mark Zhang, Founder & CEO of MYX Finance\""}],"events":[{"id":"d1a690df-8ab2-4d57-a7f0-3522a8972e13","date":"2023-01","title":"Founded MYX Finance","type":"CREATED","description":"Mark Zhang founded MYX Finance, a decentralized derivatives protocol, with a team from traditional finance, centralized exchanges, and DeFi backgrounds.","link":"https://www.theblock.co/post/262545/crypto-derivatives-protocol-myx-raises-5-million-in-seed-led-by-sequoia-china","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"6f7056a9-843d-413d-b51e-30e58eaa1d2b","date":"2023-11","title":"Led $5M Seed Funding Round","type":"DEFAULT","description":"Zhang led MYX Finance in securing a $5 million seed funding round at a $50 million valuation. The round was led by HongShan (formerly Sequoia China) and included Consensys and OKX Ventures.","link":"https://www.theblock.co/post/262545/crypto-derivatives-protocol-myx-raises-5-million-in-seed-led-by-sequoia-china","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"0e16e679-54f0-41ea-96b8-d22284998425","date":"2024-02","title":"Launched MYX Finance Platform","type":"DEFAULT","description":"Under Zhang's leadership, the MYX Finance platform officially launched, offering perpetuals trading with its proprietary Matching Pool Mechanism (MPM).","link":"https://www.accessnewswire.com/newsroom/en/business-and-professional-services/myx-finance-launches-project-origin-season-3-era-of-zeal-airdrop-889861","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"b21f7a03-2994-4be6-a6d7-07792c7b9c3e","date":"2024-08","title":"Managed BMYX Compensation Plan","type":"DEFAULT","description":"Zhang publicly addressed community concerns regarding the BMYX token and oversaw a multi-phase compensation plan to resolve the issues, culminating in the final phase in August 2024.","link":"https://x.com/myxmarkz/status/1820661831338365298","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"language":"en","version":1,"linkedWikis":{"blockchains":[],"founders":[],"speakers":[]},"operator":{"id":"0xd5893989b9952c6568a99F854795AcC5Ae480D56"}}