Hassan Maishera
Web3 gaming foundation Mythos Foundation has announced the launch of MYTH staking on the Mythos Chain, enabling holders of the Mythos (MYTH) token to stake their MYTH and earn rewards.
In a press release shared with Cryptowisser, the team revealed that Mythos Chain is overseen by the Mythos Foundation and DAO in partnership with Mythical Games. The chain 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.
Furthermore, staking rewards have been allocated from the Mythos Foundation treasury, ensuring that the MYTH token remains non-inflationary in keeping with its original design.
Gas fees on Mythos Chain are burned, ensuring that MYTH is deflationary. The team revealed that since the program opened on March 10, over 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.
While commenting on this latest development, Mythical Games CFO Kasper Jørgensen, said,
“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. 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 urged to leverage the Subwallet or Nova Wallet to participate in MYTH staking on Mythos Chain. Staked tokens will accrue rewards linearly and can be claimed each day.
However, 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%.
MYTH is crucial to the Mythos ecosystem as it supports staking and governance. The token is also used for gas fees on the Mythos Chain and to support transactions on the Mythical Marketplace, where in-game assets can be traded.
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 who may be new to blockchain through a custodial wallet for their digital items.
