MNX builds a decentralized exchange offering futures, perpetuals and prediction markets tied to AI-related assets, including valuation futures, equity perpetuals focused on AI companies, and compute perpetuals using indices from SemiAnalysis. The platform uses 200-millisecond batch auctions enabled by MegaETH’s sub-millisecond block times to reduce latency arms races and MEV, and plans to offer leverage where appropriate. MNX targets trading and hedging across the AI value chain—compute, electricity, benchmarks, commodities, public equities and private lab valuations—and aims to attract tech workers, retail traders and crypto users using tokenized real-world assets. The company launched in the prior fall and is co-founded by Stephen Grugett and Ian Philips, with Philips stepping away from Manifold Markets; MNX is currently in private beta and intends to launch on mainnet later this summer. The team today consists of the co-founders and several part-time non-technical contractors and plans to hire three to six full-time employees to scale operations.

Total raised

$6M

Funding rounds

1

Latest round

Seed

Latest activity

Jun 2026