Cryptocurrency

10 Million MYTH Tokens Airdropped to over 450,000 DOT Holders

Published

3 months ago

October 2, 2024

[PRESS RELEASE – Zug, Switzerland, October 1st, 2024]

The MYTH Airdrop Distributes Rewards to Polkadot Users in a Large and Transparent Airdrop Event

Yesterday, the Polkadot DAO and Community commenced distributing an airdrop of 10 million MYTH tokens to over 450,000 Polkadot (DOT) wallets as an inaugural, collaborative action between the Mythos and Polkadot ecosystems.

The airdrop follows the previously announced collaboration between the two entities and is a historic milestone in the industry leaders’ successes at the forefront of blockchain gaming and Web3 innovation. Users can claim their rewards and “teleport” their tokens to the Mythos Chain via the airdrop portal at https://airdrop.mythos.foundation, transforming the airdropped tokens to native MYTH, which powers the Mythos gaming chain.

The airdrop distribution began on Sep. 30th and will conclude within seven days.

Airdrop Overview

This airdrop is more than just a distribution of tokens—it’s the product of several rounds of feedback from the Polkadot community, making it the most transparent airdrop ever created. The airdrop was refined with input from the Polkadot community, including input from key Polkadot ecosystem stakeholders and leaders from organizations including Scytale Digital, The Kusamarian, OpenGov.Watch, ChaosDAO, PermanenceDAO, and BlockDeep Labs.

The airdrop was constructed and published via Dune Analytics, led by blockchain services firm Colorful Notion, with an audit conducted by Parity Technologies, allowing full transparency and community insight throughout the process.

Users can login to the airdrop portal on desktop (mobile support coming soon) and claim the MYTH to a native Mythos chain address. With MYTH users can begin operating on the Mythical Marketplace, transacting on the Mythos chain and readying themselves for further incentives expected to be announced in the coming weeks. The 10 Million MYTH airdrop is also intended to complement the ongoing Mythical Forest campaign, in which holding native MYTH tokens gives users a multiplier effect on rewards, allowing them the chance to earn from a 2 million MYTH token pool incentivizing social tasks and quests.

Airdrop Criteria Looking to Reward the Most Active Users

The goal of the two campaigns is to spure participation, with the currently live Mythical Forest Campaign focused on social quests and the MYTH airdrop focusing on rewarding active Polkadot users—those who have engaged in core activities like staking, voting in governance, and executing cross-chain (XCM) transactions; Polkadot’s signature feature that highlights its unparalleled interoperability. A total of 128,796 active wallets are receiving rewards, with individual wallets receiving up to 1,337 MYTH based on their level of engagement.

Users who had participated more actively saw a significantly higher share of the rewards pool. For example:

If one had staked their DOT, they could have received additional MYTH tokens.
If one had engaged in cross-chain transactions (XCM)—Polkadot’s unique feature allowing seamless transfers across different chains.
Even more rewards were available for voting in Polkadot’s governance system (OpenGov) and participating in crowdloans.

This airdrop incentivizes both active and passive participants in the Polkadot ecosystem, rewarding those who have fully embraced Polkadot’s unique advantages. For users who simply held DOT but didn’t actively participate, 347,885 “inactive” wallets still received MYTH tokens, ensuring everyone with a stake in Polkadot benefited from this community-driven initiative. In both cases the wallet must have held between 10 DOT and 5000 DOT at the time of snapshot.

The MYTH token: Expanding Across Chains

The Mythos blockchain gaming ecosystem, in collaboration with and support of Mythical Games, is demonstrating the power of multi-chain interoperability with the Mythos chain and MYTH token, which is now supported across four blockchains, three of which are secured by Polkadot:

Mythos – The native blockchain of the Mythos blockchain gaming ecosystem. Users can interact with projects like the Mythical forest campaign by holding their MYTH here. [
Hydration – Polkadot’s leading DeFi chain and most advanced decentralized exchange.
Ethereum – Home of the MYTH ERC20 token, which can be bridged to the Mythos chain via Snowbridge.
Asset Hub – A Polkadot system chain, which acts as the focal point of liquidity entering the Polkadot ecosystem and a hub to connect all parachains.

This multi-chain capability reinforces Mythos’ commitment to being chain-agnostic, aligning with Polkadot’s vision of interoperability across blockchains. Users are able to access and manage their tokens through all major ecosystem wallet UIs including Nova Wallet and SubWallet for mobile users, as well as Talisman and SubWallet on desktop, with initial support for the airdrop portal coming from Talisman and SubWallet on desktop devices.

Future Campaigns and Gaming Incentives

In addition to the current campaigns, the Mythos Foundation has reserved millions of additional MYTH tokens, for community building, gaming incentives and more, available to those with active accounts on the native Mythos Chain. An additional reserve will be used to drive long-term engagement of token holders and gamers.

More on the Mythical Forest Campaign: 2 Million MYTH Tokens Up for Grabs

Running alongside the airdrop is the Mythical Forest Campaign, where participants can complete social tasks and earn points towards a 2 million MYTH token rewards pool. The more tasks completed, the more MYTH tokens participants can claim, making it an exciting opportunity for the entire Web3 community. Holders of native MYTH tokens are further incentivized with bonus rewards.

For full details on the airdrop criteria, including to confirm eligibility, readers can visit https://dune.com/substrate/mythos.

About the Mythos Foundation:

The Mythos Foundation is primarily responsible for the governance and development of the MYTH token and its ecosystem. It oversees initiatives and partnerships aimed at expanding the adoption of blockchain technology in gaming, including managing token distribution and supporting gaming incentives. It emphasizes the broader ecosystem, governance, and strategic partnerships, such as the collaboration with Polkadot for token swaps and airdrops.

For more information on the Mythos Foundation, readers can visit https://linktr.ee/mythostoken.

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Cryptocurrency

ADA, XRP Take Main Stage With 8% Gains, BTC Consolidation Continues (Weekend Watch)

Published

10 hours ago

January 12, 2025

Bitcoin’s calmness over the weekend continues as the asset has failed to make a major move from its tight range between $94,000 and $95,000.

In contrast, several altcoins, such as XRP, ADA, and XLM, have posted significant gains over the weekend, while SUI has plunged hard.

ADA, XLM, XRP on the Rise

As reported on Saturday evening, Ripple’s cross-border token stole the show with a massive surge from $2.33 to $2.5. The asset kept climbing in the following hours and tapped a multi-week peak of $2.6 before correcting slightly to $2.52 now.

Cardano’s native token is the other massive gainer from the larger-cap alts. ADA has soared by nearly 9% over the past day and now sits at the coveted resistance level of $1. XLM has also gone on a tear, surging by more than 7% and now trading close to $0.45.

In contrast, SUI has dumped by over 3% to $4.82, while TRX, SHIB, and BNB are also slightly in the red. On the other hand, ETH, SOL, DOGE, AVAX, TON, LINK, HBAR, and DOT have marked minor gains over the past 24 hours.

The cumulative market capitalization of all crypto assets has remained at essentially the same spot as yesterday at just shy of $3.450 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto

BTC Calms at $94K

The primary cryptocurrency had a highly eventful and volatile trading week in which it soared past $102,000 on Tuesday, only to crash by more than ten grand in the next 48 hours. This multi-week low took place on Thursday as BTC came close to breaking below $91,000 and even $90,000.

More volatility ensued in the following hours, with a jump toward $96,000 and a rejection that pushed it back to almost $92,000.

However, the bulls managed to defend the latter and pushed BTC to $94,000 where it has spent most of the weekend, aside from a brief spike to $95,000.

As such, bitcoin’s market cap remains at $1.865 trillion on CG, but its dominance over the alts is down to 54.2%.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Cryptocurrency

2 Metrics Indicate Ripple (XRP) Price Faces Trouble After Recent Surge to $2.60

Published

10 hours ago

January 12, 2025

TL:DR;

XRP’s price went on an unexpected run on Saturday night, surging to a multi-week peak of $2.6 before correcting slightly.
However, some on-chain metrics suggest that the asset could face trouble in the following days, especially if it fails to close above $2.47.

As reported on Saturday evening, XRP’s rally drove the asset from $2.33 to $2.5 and later to $2.6, which represented an 11.5% surge within less than 24 hours. Although the asset has lost some steam since then and currently sits at $2.51, it’s still over 6% up on the day.

This came shortly after reports emerged that whales had amassed more than a billion XRP tokens within a mere 48-hour period during the most recent correction in the middle of the business week.

However, this is where the popular crypto analyst Ali Martinez sounded the alarm about a potential drawback for XRP’s price.

At first, he pointed out that the TD Sequential, a technical indicator used to show the market exhaustion in either direction, had flashed a sell signal on the 4-hour chart. Nevertheless, this bearish formation will be invalidated if the asset closes above that line, which it still maintains.

The TD Sequential presents a sell signal on the $XRP 4-hour chart, anticipating a brief correction. The bearish formation will be invalidated if #XRP closes above $2.47! pic.twitter.com/CrW303RTaT
— Ali (@ali_charts) January 11, 2025

Additionally, Martinez highlighted a growing number of short positions opened when XRP peaked at $2.6. Recall that Ripple’s cross-border token was among the few with notable gains on Saturday evening while the rest of the market stood silently.

Many traders might have anticipated a short-term correction due to XRP’s divergence from the pack, which indeed occurred to the current levels. The question now remains whether the cryptocurrency will remain above the aforementioned support or that was just the start of a broader correction.

A lot of $XRP shorts were opened at $2.60, creating a substantial liquidation zone that market makers may try to grab. pic.twitter.com/cPIPwSjLEI
— Ali (@ali_charts) January 12, 2025

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Cryptocurrency

Ripple Price Analysis: Can XRP’s Momentum Sustain After 8% Daily Surge?

Published

10 hours ago

January 12, 2025

Ripple displayed low market activity, as reflected in its subdued price action for a while before a sudden surge to $2.6 yesterday.

The price remains confined within a sideways wedge pattern, highlighting a phase of consolidation and indecision. A decisive breakout is necessary to establish a sustained market direction.

XRP Analysis

By Shayan

The Daily Chart

Ripple’s current low volatility signals a lack of trading interest, potentially linked to broader macroeconomic factors, such as uncertainty surrounding President Trump’s transition to the White House. XRP’s price remains trapped within a wedge pattern and oscillates in the $2-$3 range even though it jumped to $2.6 yesterday evening.

A breakout from this range is crucial, as it will likely dictate Ripple’s long-term trend. A bullish breakout could trigger a rally, while a bearish breakout may result in significant declines.

The 4-Hour Chart

On the 4-hour timeframe, Ripple found support at the 0.5 Fibonacci level ($2), prompting a minor upward move. However, the price has now entered a low volatility phase with no clear directional bias.

Ripple faces significant support near the 0.5 ($2) and 0.618 Fibonacci levels, which have served as strong defenses for buyers in recent months. If buyers manage to defend this region, XRP may experience a bullish spike. However, if sellers push the price below this key support zone, the market could face long liquidations, leading to a substantial decline.

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