The staking program for MYTH has launched on Mythos Chain, allowing token holders to earn rewards by locking up their tokens.
Launch of MYTH Staking Program
The Mythos Foundation launched the program on March 10, and it’s already getting a lot of attention. More than 30 million MYTH tokens have been staked in just the first two days. The rewards are big with up to 300% APY, making it an exciting opportunity for MYTH holders. A total of 50 million MYTH tokens will be handed out as rewards over the next year.
Features of the Staking Program
One big thing about MYTH staking is that it doesn’t add new tokens into circulation. The rewards come straight from the Mythos Foundation treasury, so it doesn’t inflate the supply. Even better, Mythos Chain burns all gas fees, which means MYTH is now a deflationary token. The more people use the network, the fewer MYTH tokens there will be, making them more valuable over time.
How to Participate in MYTH Staking
Anyone interested in staking MYTH can stake it via Subwallet or Nova Wallet. Rewards start accruing immediately after tokens are staked and can be withdrawn daily. In case a user decides to unstake, they will have to wait for three days to withdraw the tokens. The rewards, however, depend on the number of people staking and the collator they choose to delegate to, but early estimates put the average return at around 30%.
MYTH staking on Mythos Chain represents a meaningful opportunity for network participants to earn rewards while supporting the stability and value of the network.
