MIP-5 Proposal for Token Swap with Polkadot’s OpenGov


The Mythos Foundation, operating as a decentralized autonomous organization (DAO), seeks approval from MYTH token holders to engage in a strategic token swap with Polkadot. This initiative aims to align both the Mythos and Polkadot ecosystems. Additionally, this swap and subsequent airdrop help kick off the Mythos Parachain. The proposed swap involves exchanging 1,000,000 DOT for 20,000,000 MYTH tokens, with specific allocations designed to enrich both communities and foster long-term growth making Polkadot the premier blockchain for gaming.


Mythos Foundation, supported by Mythical Games, plays a pivotal role in promoting decentralized gaming economies, multi-chain support, and NFT integration. As we prepare to launch our own parachain within the Polkadot ecosystem, this partnership will leverage Polkadot’s unique blockchain capabilities to elevate our gaming platforms, ensuring a seamless, scalable, and secure experience for developers and players alike.

Why Polkadot?

Polkadot stands at the forefront of blockchain innovation, offering distinct technological advancements that align with our vision for a decentralized gaming future:

  • Advanced Interoperability and Scalability: Polkadot’s unique parachain architecture allows for the creation of custom blockchains while still being connected to a larger network. This enables tailored solutions for specific use cases and seamless cross-chain communication.
  • Future Roadmap and Cutting-edge Features: Polkadot’s introduction of features like Async Backing and Agile Coretime—akin to multi-core processing in blockchains—promises to significantly enhance throughput and reduce latency, ideal for the demands of high-performance gaming applications.

Proposal Details

Engage in a swap of 1,000,000 DOT for 20,000,000 MYTH tokens. This strategic move will not only provide liquidity but also facilitate the smooth launch of our parachain on Polkadot, integrating our gaming ecosystem into a broader, interoperable, and decentralized environment.

  • 15,000,000 MYTH are to be managed by a multisig wallet, overseen by high-reputation members from the Polkadot community. This ensures governance participation and alignment with community interests.
  • 5,000,000 MYTH reserved for incentives and grants to support ecosystem partners and further development initiatives within the Polkadot framework.

Utilization of DOT Tokens

  • To kickstart adoption of MYTH on various decentralized exchanges and within the Polkadot ecosystem as a whole, Mythos will work with external partners to help provide liquidity with some of the DOT granted in the swap.
  • Mythos will also retain a portion of DOT for staking to support network security.

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