MUX Protocol (MCB): What It Is, Uses and Risks

MUX Protocol describes itself as a decentralized leveraged trading protocol. The project says it offers zero price impact trading, leverage of up to 100x, and no counterparty risk for traders, and that it pools liquidity across the chains it runs on. Public listings describe it as a perpetual swap exchange and a derivatives exchange, and one earlier description says it was built on Mai Protocol V3. According to public data, the project launched on 2020-07-04. Leverage that high magnifies losses as well as gains, so the project's own claims are worth checking against independent sources before anyone relies on them.

public data does not state what MCB does inside the protocol. It does not say whether the token grants governance rights, pays trading fees, or earns rewards. Rather than guess, this page sticks to what is known: MCB is the token linked to the MUX Protocol project, and it is listed under DEX tokens, exchange tokens, derivatives and perpetuals. Being listed in a category does not by itself show what a token is used for. Readers should check the project's own documentation for the current role of the token, since token mechanics can change over time.

As of 2026-11-05, the data shows a price of about $2.23, a market capitalization of about $8.5 million and a fully diluted valuation of about $10.7 million, with a market cap rank of 1359. Circulating supply is about 3.80 million tokens, against a total of about 4.80 million and a stated maximum of about 4.80 million. The 24-hour trading volume was about $383, which is very thin. Over seven days the price was down about 5.3 percent, and over one year it was down about 13.2 percent. The all-time high was $68.36 on 2021-10-16, and the all-time low was $0.911402 on 2020-10-29. These figures change constantly and say nothing about future prices.

MCB is issued on Ethereum, Arbitrum and BNB Chain. The data lists no native chain for the token, so it is a token issued on other networks rather than the base asset of a single blockchain. Coverage also places the project within the BNB Chain, Arbitrum and Ethereum ecosystems. Each network version is a separate deployment, so readers should confirm which contract address they hold and that any bridged or wrapped form matches the one the project lists. Sending tokens to the wrong network can mean funds go to an address that cannot receive them, and recovering them is often not possible.

Thin trading volume means that a sizeable sale can move the price sharply, and exiting a position at a quoted price may not be possible. High leverage can liquidate positions quickly. Decentralized protocols also carry smart contract bugs, oracle failures and governance risks, and public data includes no audit details, so readers should look for audits from the project's official channels. The price has fallen far below its 2021 peak. Store tokens in a wallet you control, verify contract addresses from official sources, and never share a seed phrase. Leveraged trading is for adults: readers must be 18+ (21+ where required) and should check that online trading or gambling-style products are legal where they live. This page is not investment advice.