The privacy-focused cryptocurrency wallet Mixin today announced the launch of its U-based perpetual contracts (i.e., USDT Margin Derivatives).

Unlike traditional exchanges, Mixin has taken a different approach: bringing derivatives trading out of a closed matching engine and integrating it into a messaging communication environment.

Users can open positions with up to 200x leverage directly in the app while also sharing holdings, discussing strategies, and copying trades in private communities. Trading, social interaction, and asset management are integrated into a single interface.

Simplified Trading Experience: No KYC, Open a Position in Five Steps

Based on its non-custodial architecture, Mixin has eliminated friction in traditional onboarding processes, allowing users to use the perpetual contract trading feature without identity verification.

The trading process is simplified into five steps:

• Select trading asset
• Select long or short
• Enter position size and leverage
• View order details
• Confirm and open position

The interface can display real-time price, holdings, and profit and loss (PnL), allowing users to execute trades without switching between multiple modules.

Social Native Trading: Strategy and Execution Combined

Mixin directly integrates social features into its derivatives trading environment.

Users can create private trading communities and interact around real-time holdings:

• Supports up to 1,024 people in private encrypted groups
• End-to-end encrypted voice communication
• One-click share holdings
• One-click copy trading

On the execution level, Mixin aggregates multiple liquidity sources, providing a unified trading interface that allows users to access liquidity from decentralized protocols and external market places.

By combining social interaction with trade execution, Mixin enables users to collaborate, share, and implement trading strategies in the same environment.

Inviting Commission Model: Non-institutional Users Can Enjoy Up to 60% Trading Fee Sharing

Mixin has also launched a reward mechanism linked to trading activity.

• Users can participate by binding an invitation code
• Can share up to 60% of trading fees
• Aimed at providing continuous, long-term rewards

This model aims to encourage organic growth and user-driven network expansion.

Built-in Privacy Protection in Self-custodial Architecture

The derivatives trading of Mixin is built on its existing self-custodial wallet infrastructure.

Core features include:

• Separation of trading accounts and asset storage
• Complete user control over assets
• Platform does not custody user funds
• Built-in privacy mechanisms to reduce data exposure

This system aims to strike a balance between trading efficiency, asset security, and privacy protection.

Another Path for On-chain Derivatives

As perpetual contracts become mainstream trading tools, Mixin is exploring a different development direction: combining low barriers, social interaction, and privacy protection.

The platform does not only focus on execution infrastructure, but positions trading as a networked activity:

Trading becomes more social, strategies become shareable, and relationships between people also become part of the financial layer.

Regulatory Background

Mixin's design is based on a user-initiated, user-controlled model. The platform does not custody assets nor represent users in executing trades.

This approach aligns with a statement released by the staff of the U.S. Securities and Exchange Commission (SEC) on April 13, 2026. The statement is titled:

“Staff Statement on Certain User Interface Broker-Dealer Registration Issues for Preparing Cryptographic Asset Securities Transactions”

The statement noted that if trades are entirely user-initiated and controlled by users, non-custodial service providers offering neutral interfaces may not need to register as broker-dealers or exchanges.

About Mixin

Mixin is a decentralized, self-custodial, privacy-focused wallet designed to provide secure and efficient digital asset management services.

Its core capabilities include:

• Aggregation capability: Integrating multi-chain assets and routing between different trading paths, simplifying user operations
• High liquidity access: Connecting multiple liquidity sources, including decentralized protocols and external markets
• Decentralization: Users can fully control their assets without relying on custodial intermediaries
• Privacy protection: Utilizing MPC, CryptoNote, and end-to-end encrypted communication, protecting both assets and data

Mixin has been operating for over 8 years, supporting over 40 blockchains and over 10,000 assets, with more than 10 million users worldwide and self-custodied assets exceeding 1 billion dollars.