Crypto
Web3 gaming foundation Mythos Foundation has launched MYTH staking on the Mythos Chain, enabling holders of the Mythos (MYTH) token to stake their MYTH and earn rewards.
Overseen by the Mythos Foundation and DAO, Mythos Chain, in collaboration with Mythical Games, is optimized for gaming, allowing players and developers to tap into its scalable infrastructure and developer-friendly tooling. The launch of MYTH staking enables the Mythical Games community to support the network’s decentralized node infrastructure while earning token rewards.
Staking rewards have been allocated from the Mythos Foundation treasury, ensuring that the MYTH token remains non-inflationary in keeping with its original design. Because gas fees on Mythos Chain are burned, MYTH will actually be deflationary, with the gas fee usage and resulting token burn set to increase as network activity ramps up. Since the program opened on March 10, more than 30M MYTH tokens have been staked already by early adopters, who will earn a share of 50 million MYTH tokens over the course of 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.”
Users are recommended to use either Subwallet or Nova Wallet to participate in MYTH staking on Mythos Chain. Staked tokens will accrue rewards linearly and can be claimed each day. After unstaking, there is a 3-day cooldown before MYTH tokens can be claimed, with rewards dependent on the number of delegators of a given collator, but estimated to be around 30%.
As an interoperable utility token, MYTH plays a number of key roles within the Mythos ecosystem. In addition to supporting staking and governance, MYTH is used for gas fees on the Mythos Chain and to support transactions on the Mythical Marketplace, where in-game assets can be traded.
About Mythical Games
Acknowledged by Fast Company’s World Changing Ideas 2021 and recently Forbes’ Best Startup Employers (2024), Mythical Games is a next-generation game company creating world-class games and empowering players to take ownership of their in-game assets through the use of blockchain technology. The team has helped develop major franchises, including Call of Duty, Call of Duty Mobile, World of Warcraft, Diablo, Overwatch, Magic: The Gathering, EA Madden, Harry Potter Hogwarts Mystery, Marvel Strike Force, Modern Warfare 3, and Skylanders. Mythical’s current games Blankos Block Party and NFL Rivals are already played by millions of consumers worldwide and create a new economy for players allowing them to engage in a new way with games but also directly trade and transact safely with other players worldwide.
The Mythical Marketplace, the first in-game blockchain Marketplace on iOS and Android, provides gamers with ownership and control over the purchase and sale of digital assets, while the Mythical Platform protects gamers that may be new to blockchain through a custodial wallet for their digital items.
Learn more: https://mythicalgames.com/
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