The Mythos Foundation, a driving force behind Web3 gaming innovation, has officially launched MYTH staking on the Mythos Chain, marking a significant step forward in rewarding its community and fostering a decentralized gaming ecosystem.
This initiative empowers holders of the Mythos (MYTH) token to actively participate in the network’s growth while earning attractive rewards.
Power to the players: MYTH staking goes live
Built in collaboration with Mythical Games, the Mythos Chain is specifically designed and optimized for gaming, offering players and developers a scalable infrastructure and a suite of developer-friendly tools.
The introduction of MYTH staking allows the Mythical Games community to directly contribute to the network’s decentralized node infrastructure, bolstering its security and stability.
In exchange, participants receive token rewards, creating a mutually beneficial relationship.
Deflationary design: a win-win for the Mythos ecosystem
The staking rewards are sourced directly from the Mythos Foundation treasury, ensuring that the MYTH token retains its non-inflationary nature, a key design principle from its inception.
Furthermore, MYTH is set to become deflationary over time, as gas fees on the Mythos Chain are burned, reducing the overall token supply.
This burn rate is projected to increase as network activity expands, creating a sustainable and value-driven ecosystem for MYTH holders.
Since the launch of the staking program on March 10th, the community has eagerly embraced the opportunity, with over 30 million MYTH tokens already staked by early adopters, who will share a pool of 50 million MYTH tokens throughout the year.
“We’re excited to support the launch of MYTH staking by the Mythos Foundation and frankly, have been impressed by the level of engagement in the first 48 hours,” said Mythical Games CFO Kasper Jørgensen.
This is only the beginning of what’s in store for Mythos Chain in the year ahead as Mythos continues building an ecosystem that will host the future of gaming for companies like Mythical.
Getting started: staking your MYTH tokens
To participate in MYTH staking on the Mythos Chain, users are encouraged to use either Subwallet or Nova Wallet, two popular and secure wallet options.
Staked tokens accrue rewards linearly, with daily claim options.
Unstaking requires a 3-day cooldown period before the MYTH tokens can be fully claimed.
Rewards are dependent on the number of delegators, as well as a given collator, however estimates show an approximate 30%.
More than just staking
MYTH serves as an interoperable utility token with a wide range of applications within the Mythos ecosystem.
Beyond staking and governance, MYTH is used to pay for gas fees on the Mythos Chain and to facilitate transactions on the Mythical Marketplace, a vibrant hub for trading in-game assets.
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