MNX Exchange Launches AI Futures With 2027 Expiry

MNX, a new cryptocurrency exchange developed by Manifold Markets, went live on Tuesday offering futures contracts tied to private artificial‑intelligence companies OpenAI, Anthropic, DeepSeek and Moonshot. The contracts expire at the end of 2027, allow up to three‑times leverage and do not charge recurring funding fees, according to the exchange.

Contract Structure

Unlike perpetual futures on platforms such as Bitget, MNX’s contracts have a fixed expiry and settle based on trading activity on the platform. If a company remains private at expiry, settlement prices will be derived from publicly available valuations from funding rounds, secondary markets or, as a last resort, a price set by MNX after a published review.

Competitive Landscape

Larger exchanges OKX and Bitget already provide AI‑related contracts, but Bitget’s are perpetual and OKX uses a different funding mechanism. MNX differentiates itself with its expiry date and fee‑free structure, aiming to address the illiquidity of private‑company secondaries, a point highlighted by Manifold co‑founder Stephen Gruggett.

Market Outlook

Village Global, which led a $6.4 million funding round for MNX in June, sees the launch as a way to develop financial markets around AI, noting the sector’s massive capital inflows. MNX also plans to expand into broader AI‑economy markets, including revenue, employment and computing capacity metrics.

Key facts

• Futures on OpenAI, Anthropic, DeepSeek and Moonshot
• Expire end‑2027, no funding fees
• Up to 3× leverage, U.S. customers excluded for now
• $6.4 M raised, led by Village Global
• Prices set by on‑chain activity, with fallback valuation methods