Mythos Chain has launched a new staking program run on a deflationary mechanism. The staking program will reward users with an annual percentage yield of up to 300%. Apart from getting rewards, MYTH token holders can also govern the Mythos Chain and protect it from all odds. Mythos Chain users should start participating in the staking early on to get the maximum benefits.
The program attracted many users soon after its launch. 25 million $MYTH tokens have been staked so far, which is a good number for a newly launched staking program to achieve. In the next one year’s time, Mythos Chain is planning to distribute over 50 million MYTH tokens as staking rewards.
The deflationary token mechanism ensures that the value of the MYTH tokens is preserved even after generating such high token rewards. This is done by burning the MYTH tokens collected as fees during the staking process.
What Are MYTH Tokens?
MYTH tokens are the native tokens of the Mythos Chain. The tokens help users participate in the process of securing the platform’s spot in the future of Web3 gaming. MYTH tokens are built and deployed on the Polkadot network. Gamers looking for an engaging gaming experience and game developers looking for the right resources to develop new Web3 games can benefit from the Mythos Chain. The major features of the Mythos Chain include high scalability, low transaction fees, and high interoperability between different games and marketplaces.
MYTH Tokenomics
Mythos Chain showcases an innovative tokenomics that distributes the 1,000,000,000 MYTH tokens in the following manner to meet various uses.
- 35% of MYTH tokens are dedicated to the development and day-to-day activities of the Mythos Chain.
- 34% of the MYTH tokens are dedicated to the Launch Partners. These tokens have a 3-year vesting schedule.
- 16% of the MYTH tokens are allocated for Mythical Employees and Advisors. These tokens also have a 3-year vesting schedule.
- 15% of the MYTH tokens are allocated for the Game Fund, the tokens having a 3-year vesting schedule.
Features Of MYTH Tokens
Mythos Chain’s use of a fully decentralized block explorer ensures transparency in terms of tracking the transaction and health of the network. The token holders can access a myriad of resources from Mythos Chain’s open-source repositories and stay updated about the latest updates.
MYTH tokens help users access the ERC-Substrate bridge called Snowbridge which connects Ethereum and Substrate blockchain networks. They can also access the Mythos Chain’s official press kit, which features high-quality logos, product images, and brand guidelines. Mythos tokens are readily available on both centralized and decentralized exchanges. You can trade Mythos Token (ERC-20) on platforms like Gate.io, MEXC, and Uniswap or explore decentralized trading on Hydration. Moreover, MYTH token holders can have multi-wallet support from wallets such as SubWallet, Nova, and Talisman wallets.
Benefits Of Staking MYTH Tokens
MYTH tokens provide many benefits for those who are planning to stake the tokens. The major benefit is the chance to earn up to 300% as APY, which will be a significant reward for the dedicated users. The deflationary tokenomics used by the Mythos Chain burns the tokens used to pay the gas fees. It means that with every transaction, the supply of MYTH tokens is reduced, which adds to its value. Moreover, MYTH tokens staking is also an opportunity for users to take part in the governance and decision-making processes in the Mythos Chain. The token holders can decide the growth trajectory of the Mythos Chain through DAO voting proposals.
The Bottom Line
MYTH token staking is the right opportunity to get engaged with the decentralized finance ecosystem and earn high rewards. Token holders are rewarded with high APY for holding MYTH tokens that have the potential to revolutionize the Web3 gaming infrastructure. So, stake the MYTH tokens at the earliest possible instance and earn high rewards.