Mythical Games and Polkadot, a proposal from Mythos Foundation Swiss

TLDR

The Mythos Foundation and Mythical Games are collaborating with Polkadot to create a dynamic and mutually beneficial partnership. Currently, Mythical is the second-largest Blockchain processor of digital assets behind Ethereum (source). This collaboration brings over 4 million players to Polkadot.

We propose a token swap involving 1,000,000 DOT to be exchanged for 20,000,000 MYTH tokens, 15m of which to be administered by the Polkadot Community and 5m of which to be administered by the Mythos Cayman Foundation (details below). This swap aims to celebrate Mythical Games joining the Polkadot Ecosystem and contribute to the best possible launch on Polkadot by providing existing DOT holders with a jumpstart to enjoy the AAA games built by Mythical Games, explore the Mythical Marketplace, and fuel an incentive pool for engaging the community, developers, and players within the Polkadot ecosystem. Mythical Games is moving its operations to a public chain secured by Polkadot, positioning Polkadot as a leader in blockchain gaming by surpassing other web3 gaming chains in NFT sales and daily active players.

The partnership between Mythical and Polkadot is more than just good news for DOT holders; it’s a game-changer. It marks the beginning of a new era in blockchain gaming, promising a more immersive and rewarding experience for everyone involved. For DOT holders, this partnership positions them at the cutting edge of the blockchain gaming revolution. It ideally renders Polkadot the BEST and only choice for future game deployments.

Why Web3 Gaming?

Mythical Games is at the forefront of the web3 gaming revolution, especially known for creating the top blockchain game, NFL Rivals. Mythical’s transition to Polkadot is a big win for DOT holders and the broader Polkadot community.

Gaming has always been quick to adopt new technologies, and Web3 gaming is no exception. It gives players more control and ownership over their in-game items, making the gaming experience richer and providing real value for their time and achievements.

However, it’s essential to acknowledge that Web3 gaming is still in its early stages. A significant factor hindering its widespread adoption is the current lack of mature tooling and infrastructure tailored for game development in the blockchain space. This gap makes it challenging for developers to realize their visions fully and for players to experience the seamless gameplay they are accustomed to in traditional gaming.

With its advanced technology stack, Polkadot is notably closer to bridging this gap. The MYTHOS ecosystem operates on the Mythos Chain, characterized by its vibrant array of games, platforms, and a substantial user base. This chain leverages the Ethereum Virtual Machine (EVM) for its compatibility with a wide range of tools and decentralized applications (dApps), facilitating a rich interactive environment. Snowbridge will be used to extend these functionalities and foster a seamless integration with the Polkadot ecosystem. This bridge will enable trustless and efficient interactions between Polkadot/Substrate and the MYTHOS EVM, ensuring that developers on the Polkadot platform can access and utilize the diverse features and applications of the MYTHOS ecosystem without compromising Hubon security or efficiency. This strategic move broadens the scope of MYTHOS' interoperability and enhances its appeal to a wider developer community.

This compatibility is crucial because it allows Substrate developers to create services that intersect with the existing MYTHOS ecosystem (for example DMarket), thus lowering the barrier to entry for creating sophisticated and engaging Web3 games.

Polkadot’s unique architecture enables the exploration of additional architectures for Web3 games that were previously difficult or impossible to achieve. Its ability to support multiple parallel blockchains (parachains) that can each be tailored for specific use cases or functionalities allows for customization and scalability that can significantly benefit the gaming industry. This architectural flexibility means that game developers can design their blockchain environments to support the specific needs of their games, whether it’s handling a high volume of transactions, managing complex in-game economies, or integrating novel gameplay mechanics that leverage blockchain’s inherent properties.

While Web3 gaming is still in an early phase, the integration of Polkadot represents a promising leap forward. By providing a platform that aligns more closely with the practicalities of game development and offering the potential for innovative game architectures, Polkadot is helping to pave the way for the next generation of gaming. This progress not only promises to make the development of Web3 games more accessible and efficient but also to enhance the overall gaming experience for players, making it richer, more immersive, and rewarding. Introducing Mythical Games and the Mythos Blockchain on Polkadot.

Why MYTHICAL?

Mythical Games distinguishes itself in the blockchain gaming sector not just as any game developer but as a professional studio with a repertoire that includes AAA titles. With a team composed of veterans from the gaming industry, Mythical has demonstrated its prowess through the development and success of games like NFL Rivals, which seamlessly integrates the thrill of mainstream gaming with the innovative aspects of blockchain technology. This blend of high-quality gaming experiences with blockchain’s unique capabilities underlines Mythical’s exceptional position in the market. Their commitment to excellence is evident in their product output and the company’s scale and achievements. Mythical has garnered attention and acclaim within the gaming community and beyond as a studio that prioritizes cutting-edge technology and player-centric designs.

Having Mythical Games transition to Polkadot serves as a compelling endorsement of Polkadot’s technical and architectural advantages. Mythical’s move to Polkadot sets a precedent for other industries, showcasing Polkadot as a viable and superior platform for building and deploying blockchain applications. The unique attributes of Polkadot, such as interoperability, scalability, and the innovative use of parachains, provide a fertile ground for developers to innovate without the constraints other blockchains have. Mythical’s decision to build on Polkadot will encourage a wave of new projects across various sectors to explore how Polkadot’s infrastructure can benefit their own applications and services.

Moreover, Mythical’s presence on Polkadot is advantageous for the ecosystem for several objective reasons:

Professionalism and Expertise: Mythical’s background in creating engaging, high-quality games brings additional professionalism and expertise to the Polkadot community. This can elevate the standard of projects and encourage a culture of excellence within the ecosystem.

Best-Practice Example: Mythical Games’ integration with Polkadot is a prime example of leveraging Polkadot’s unique advantages (such as interoperability, scalability, and customized blockchain creation) that can be utilized to address the specific needs of blockchain gaming. This partnership not only highlights Polkadot’s technical strengths but also sets a benchmark for others. Mythical’s success on Polkadot will serve as a key case study, encouraging innovation and adoption within the Polkadot ecosystem.

Cutting-edge Polkadot implementation: Mythos will be one of the first Parachains to use novel Polkadot features such as Async Backing, Coretime, and elastic scaling. This makes Mythos also a technological best-practices example within Polkadot.

Cross-Industry Attraction: Mythical acts as a beacon for other industries, highlighting Polkadot’s capacity to support complex, high-quality applications with large user numbers (NFL Rivals alone has over 3M users). This can lead to a diversified ecosystem where technology from various fields converges, fostering innovation and growth.

The support from Mythical’s visionary founders also makes Polkadot even more appealing as a tech-forward ecosystem (see in this context: “Beyond the Hype: Why Polkadot Stands Out!” featuring John Linden, the CEO of Mythical Games).

Mythical has:

A strong track record with popular games like NFL Rivals.
The capability to captivate and maintain a vast user base.
A commitment to the decentralized, player-empowered principles of Web3.

"Mythical Games’ play-and-own model and partnerships with global brands, like the NFL, has the potential to onboard millions of Web2 natives to Web3.”
(Randy Wasinger, Forkast Labs & CryptoSlam)

Why Mythical is Good for Polkadot: increasing demand for DOT Blockspace

The Mythos Foundation, supported by Mythical Games, aims to revolutionize Web3 gaming by focusing on cross-chain infrastructure, evolving NFTs and game economies, integrating gaming guilds, expanding traditional esports into Web3, and collaborating with traditional gaming platforms for future policies (see the mythos.foundation website).

Mythical’s integration into Polkadot will deliver significant benefits to both. The Mythos blockchain, previously operated as a permissioned EVM (Ethereum Virtual Machine) blockchain and gaming ecosystem, utilizes the MYTH utility token. It supports flagship gaming titles like NFL Rivals, Nitro Nation World Tour, and Blankos Block Party. With ca. 4.5 Million transactions per month and >750,000 wallets, Mythos will be fully transitioned to Polkadot this quarter.

The integration of Mythical into the Polkadot ecosystem facilitates significant advancements:

It serves as a large-scale on-ramp for gaming, introducing Polkadot to the existing Mythos ecosystem, including DMarket, its games, and a vibrant user base.
Offering developers a superior framework for future game development and releases through the availability of Substrate.
With active user onboarding, 750k active wallets and an even larger player base (4M+ players) are brought to Polkadot. This not only boosts the ecosystem’s vibrancy but also increases the demand for DOT blockspace, enhancing DOT’s overall utility and value.

ERC-20 Mythos will initially be bridged to Polkadot. The MYTH system (currently a permissioned blockchain on Hyperledger Besu) will be ported to a parachain on Polkadot. The compatibility layer with the existing ecosystem will remain ready to onboard future Substrate initiatives faster to the Mythos and Polkadot ecosystems.

Incentives for DOT Holders

Mythos Foundation will supply 15,000,000 MYTH tokens, which will be administered by a 5 of 7 multisig, with the signers being high-reputation members of the DOT Community: 2 representatives from Decentralized Voices, Jay Chrawnna, Alice & Bob, Leemo, and 2 representatives from Scytale Digital.

The multisig participants are only acting on the rules set out in the proposal and any amendments decided by OpenGov and don't act on their own. Legal liability remains with OpenGov.

Distribution details of the 15,000,000 MYTH

10,000,000 will be distributed to DOT holders. The distribution is based on a snapshot of Polkadot chain data from 2024-03-29; we distribute to all accounts that held between 10 - 5000 DOT (440,675 wallets holding a total of 95,967,545 DOT). Every wallet will receive 22.7 MYTH.
5,000,000 are for incentives / grants to ecosystem partners moving Mythos / Polkadot initiatives forward (exchanges, custodial partners, Polkadot DEXs).
Excess funds will be managed by a multisig with selected representatives from the Polkadot community.

Mythos Cayman Foundation will make available an additional pool of 5,000,000 MYTH for

Incentives for DOT holders interacting with Mythical Marketplace (registering / linking DOT wallet, purchasing NFTs in marketplace)
Bonus from Mythical - all DOT holders that link a wallet to their Mythical account will receive special items in NFL Rivals, Nitro Nation, and the upcoming Blankos mobile game.
Gaming incentives for the Mythical Ecosystem, under a banner “sponsored by the DOT Community” or similar.

Steps in the Swap

Mythos Swiss Foundation Multisig receives 1,000,000 DOT
Mythos Swiss Foundation executes token swap with Mythos Foundation Cayman, which sends 1,000,000 DOT to Mythos Foundation Cayman wallet. Mythos Foundation Cayman simultaneously sends 15,000,000 MYTH (substrate) tokens to the Mythos Swiss Foundation Multisig
Mythos Swiss Foundation airdrops 10,000,000 MYTH tokens to DOT holders as described above.
Mythos Swiss Foundation Multisig sends up to the remaining 5,000,000 MYTH to top tier exchanges that list MYTH (Substrate) , Polkadot ecosystem DEXs, as incentives for DOT holders and liquidity bonuses, and pays for technical support for airdrop and other services, as agreed with Multi-sig signers.
Whatever amount of MYTH that is not used by 30 September 2024 will be sent to the DOT Treasury.

Disclaimers and additional information

MYTH Token and Tokenomics 2.0 (Draft)

Mythos 2.0 introduces significant updates: a rebalanced council for governance, a dedicated Layer 1 chain for improved wallet interactions, fee allocation to support the foundation, direct voting through on-chain governance, advanced security with new wallet features, and proposals for staking. It also simplifies in-game and DeFi transactions with self-custody accounts, updates its native token for cross-chain transactions, engages new partners, and expands its offerings with upcoming games and a Mythical Marketplace.

About Mythical Games

Mythical Games is a technology company and game studio that specializes in building games incorporating blockchain technology, aiming to create more immersive and interactive gaming experiences. Founded in 2018, the company focuses on developing games where players have true ownership of their digital assets through non-fungible tokens (NFTs), enabling trade, sale, and verification of ownership outside the game environment.

About Mythos Swiss Foundation
This Swiss non-profit foundation was formed in April 2024 in order to facilitate the onboarding of Mythical Games onto the Polkadot Ecosystem and perform the token swap, airdrop, and other distributions. The law firm Abilex AG, which is a leading Swiss firm knowledgeable in crypto matters, created the structure and provided legal support. Abilex handles many other matters in crypto as well. There is no relation between the Mythos Swiss Foundation and the DED Foundation (other than that both have been consulted by Abilex).

About Mythos Foundation Cayman

The Mythos Foundation and its DAO aim to transform Web3 gaming by fostering an inclusive, blockchain-enhanced ecosystem. Supported by Mythical Games, Mythos promotes decentralized gaming economies, multi-chain support, and NFT integration, focusing on lowering barriers for developers and enhancing player experiences. The initiative prioritizes collaboration across gaming communities, esports expansion, and partnerships to drive innovation and accessibility in the gaming industry. https://mythos.foundation/

None of the proposers or people working on this proposal are directly compensated through the proposal. Any third party cost arising from this proposal will be paid for by Mythos Foundation.