Mythos DAO FAQs

Mythos DAO Dissected: The Foundation

The DAO: The Mythos DAO aims to simplify, standardize, and democratize the Web3 gaming ecosystem by providing decentralized governance for the global community. All MYTH token holders are automatically members of the DAO and can propose and vote on Mythos Improvement Proposals (MIPs). Through the support of multi-chain ecosystems, unified marketplaces, decentralized financial systems and governance mechanisms, and multi-token game economies, the Mythos DAO seeks to democratize the gaming industry by enabling players and creators to participate in the value chain.

The Foundation: The Mythos Foundation acts as a steward for the inclusive and fair growth of the Mythos ecosystem, utilizing the Ecosystem Fund to cover its expenses and providing infrastructure for MYTH token holders to collaborate. Mythical Games is the initial supporter and contributor to the Mythos Foundation, integrating its standards, technology, and utility token to fuel next-generation game development while recruiting governance partners and advisors from the gaming industry.

Q: What are MIPs?

A: MIPs are proposals put forward by Mythos DAO members with the goal of improving the Mythos ecosystem. MIPs are a crucial part of how the DAO supports the broader Mythos community and its ambitions.

Q: Why is there a structured process for submitting MIPs?

A: The process may seem onerous to some, but it’s important to ensure that the DAO’s resources are being used responsibly and that all ideas have a fair shot at being implemented. By following a rigorous and consistent set of procedures, we can remove the need for centralized oversight of projects and allow our DAO to become more decentralized over time.

Q: What’s the difference between an MIP Proposal and a Formal MIP ?

A: An MIP Proposal is a preliminary concept suggested by community members. Compared to a Formal MIP, an MIP Proposal may be less specific, and doesn’t require filling out a complete template. Think of it as a starting point for discussion.

Q: Can I put forward an MIP Proposal even if I’m not sure what it will fully entail?

A: Absolutely! We encourage community members to submit MIP Proposals even if they haven’t gone through the more detailed process of writing a Formal MIP. The purpose of an MIP Proposal is to spark conversation within the community, which can help the author refine their idea into a more robust Formal MIP over time. So don’t be shy – share your thoughts with your community!

Q: How can I submit an MIP?

A: The first step is to float your idea to the community by introducing it in the MIP Proposal category on Discourse. This allows your idea to marinate within the community and gather feedback on how it can best meet the goals and needs of the DAO. Once you’ve received feedback and initial support of 25 votes from the community, you should tag one of the moderators and express interest in moving the MIP Proposal to the next phase, during which you will elaborate on your proposal’s intentions, specifics, and implications. The more effort and research you put into this step, the quicker your MIP can be brought to a vote.

Q: What happens after I submit an MIP Proposal?

A: Your proposal will undergo administrative review from the Mythos Foundation, during which the Foundation administrators will assess the necessary steps to implement your proposal, any vendors that may be needed, and the role of the Foundation in implementation. The time frame of this review period depends on the level of detail included in your draft and the extent to which it is clear how the MIP could best be actualized in a way that benefits the DAO.

Q: What is the role of the Special Council in the MIP process?

A: After a Formal MIP passes administrative review, the proposal is sent to the Special Council. The Council can then ask additional questions of the author, reject the MIP, or approve the MIP for community vote.

Q: Are there any examples of successful MIPs I can look to for inspiration?

A: Absolutely! We recommend checking out Final MIPs, which are proposals that have gone through a community vote and serve as good examples to follow. Take note of the level of detail and thoughtfulness that meets the standards necessary for the strong, durable base we’re all working to build.

Q: Can I resubmit a proposal that was not passed?

A: Yes. If your proposal was rejected by the Special Council or by community vote, you can resubmit the proposal following the regular DAO process. In addition to following the usual governance process, the Resubmission Draft will require the following information:

Link to the original proposal

Reason it was not approved

Changes that have been made and why it should now be approved

If necessary, additional fields that communicate the changes made and the intentions, specifics, and implications of the resubmitted MIP Draft

Q: Can I resubmit my MIP after being withdrawn/rescinded/decline?

A: Of course. If a proposal has exited the process for any reason, it is more than welcome to be resubmitted through the standard procedure. This will require meeting the minimum requirements again before it can move forward, but hopefully after taking some community feedback into consideration your proposal will be better than before.

Q: My MIP was rejected/withdrawn, but I do not know why. What happened?

A: An MIP may be rejected by the Foundation as per the DAO guidelines. If a proposal is deemed to be at all illegal or otherwise in violation of our DAO guidelines it will be rejected, and the reasoning will be provided to you. At this point, you can open a private discussion with the administrators, and you will have every opportunity to reformulate and/or restructure your proposal to accord with the DAO guidelines.

Your proposal may also be withdrawn if it is found to conflict with an already Accepted MIP or an MIP currently up for a vote. There is a three-month period that needs to lapse before a conflicting MIP may be proposed.

1 Like