MNX, a decentralized futures exchange focused on the artificial intelligence economy and built on the MegaETH network, raised $6.4 million in a pre-seed funding round at a $40 million valuation.
Village Global led the round, with participation from Cambrian, North Island Ventures, Finality Capital, Relay Digital and several angel investors, including Matt Liston, co-founder of Augur and Gnosis, and Scott Moore, from Gitcoin. The round was structured as a SAFE with token warrants; no investor received board seats or advisory roles.
Excited to announce we’ve raised $6.4M to build MNX, the AI exchange! pic.twitter.com/7uvumSaWHs
— MNX (@MNX_fi) June 10, 2026
MNX was founded in the fall of 2024 by Stephen Grugett and Ian Philips, co-founders of the prediction market Manifold Markets, with the goal of creating a trading venue for AI-linked assets that are difficult to access in traditional markets.
Planned products include valuation futures, equity perpetuals, compute perpetuals, and prediction markets, all oriented toward the AI ecosystem. Rather than a continuous order book, MNX operates with 200-millisecond batch auctions enabled by MegaETH’s block times, aiming to reduce latency races and maximal extractable value. The platform is currently in private beta with institutional partners and plans to launch its mainnet before the end of summer.
Source:Â https://x.com/MNX_fi/status/2064693946228347207
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