The Mythos Foundation Launches MYTH Token Staking

The Mythos Foundation (MYTH), a Web3 gaming platform, has officially launched MYTH token staking on the Mythos Chain, as reported on March 19.

The staking initiative commenced on March 10 and has already seen over 30 million MYTH tokens staked. Participants can expect to share 50 million MYTH in rewards over the next year.

> Have you staked your MYTH yet?
> We have allocated 50M MYTH from our treasury as rewards to be distributed over the next 12 months.
> Stake now at this link and enjoy a current APY of over 200%!
> — Enter the Mythos (@EnterTheMythos) March 13, 2025

Democratizing Web3 Gaming

Mythos Chain, designed for Web3 gaming, offers a scalable infrastructure powered by the Mythos Foundation’s decentralized autonomous organization (DAO). With the MYTH staking update, the community can actively support the network’s decentralized node system while benefiting from token incentives.

To control inflation, staking rewards are drawn from the Mythos Foundation treasury, not from new token issuance. Moreover, gas fees on Mythos Chain are burned, leading to an increase in token burns with rising network activity.

Kasper Jørgensen, Chief Financial Officer of Mythical Games, expressed excitement about the engagement surrounding the new staking features:
> “We’re thrilled to support the launch of MYTH staking by the Mythos Foundation and are impressed with the level of engagement within the first 48 hours. This is just the beginning of what Mythos has planned for the year as it builds an ecosystem for the future of gaming for companies like Mythical.”

MYTH Staking and Utility

Users can participate in MYTH staking using Subwallet or Nova Wallet. Staked tokens earn daily rewards that can be claimed anytime, while unstaking incurs a three-day cooldown. Reward rates depend on the number of delegators per collator, currently estimated at around 30%.

In addition to staking, MYTH serves as a governance token, fuels gas transactions, and facilitates in-game asset trading on the Mythical Marketplace.