Mythos Foundation Expands Web3 Gaming on Polkadot

Mythos Foundation's Strategic Move

The Mythos Foundation is making significant strides in decentralizing Web3 gaming by partnering with the Polkadot ecosystem. This strategic move aims to onboard over 5 million players to the Polkadot network, marking a new era for blockchain-based entertainment.

Token Exchange and Distribution

As part of this partnership, a token swap is set to occur between the Polkadot community treasury and the Mythos treasury. Specifically, 1,000,000 DOT will be exchanged for 15,000,000 MYTH tokens. Of these, 10,000,000 MYTH tokens are earmarked for DOT holders with holdings between 10 and 5,000 DOT. The remaining 5,000,000 tokens will be used for incentives and grants to ecosystem partners, including exchanges and DEXs. Any unused tokens by September 2024 will revert back to the Polkadot community.

Migration to the Polkadot Ecosystem

The Mythos Chain will transition to the Polkadot network as a parachain. This migration leverages Polkadot’s EVM module and WebAssembly-based Substrate framework, ensuring seamless compatibility for developers. The integration will enhance MYTH’s cross-chain functionality, utilizing Polkadot's native XCM and decentralized bridges like Snowbridge.

Expanding User Base and Ecosystem Impact

This migration will integrate over 750,000 active Mythos Chain wallets and a user base exceeding 5 million into Polkadot. As a result, Polkadot is poised to become one of the largest blockchain ecosystems for gaming. This transition is set to pave the way for other projects to capitalize on Polkadot’s technological advantages.

Leadership and Vision

Led by industry veterans, Mythical Games is renowned for its player-owned economy games and has developed major franchises. The Mythical Platform offers both custodial and non-custodial gaming wallets, catering to new and advanced gamers alike. This setup enhances security and flexibility, fostering a robust Web3 gaming community.