Mythos | Governance

Summary

This document proposes the first iteration of the Mythos Web3 gaming ecosystem decentralized autonomous organization (“Mythos Ecosystem” or “Mythos DAO”) governance and proposal process and how the Mythos DAO will be governed by the holders of the Mythos token (“MYTH”, also referred to as the tokenholders or community members). This Mythos Improvement Proposal (“MIP”) outlines the steps in that process, the parties involved and at which stage, and how governance and voting takes place. We also recognize that governance should be able to evolve and therefore have built in the flexibility of such changes via this MIP process itself.

BACKGROUND

The Mythos DAO aims to democratize the gaming world and allow for players and creators to participate in the value chain. It is grounded in the support of multi-chain ecosystems, unified marketplaces, decentralized financial systems, decentralized governance mechanisms and multi-token game economies.

Mythos will spearhead funding, development and distribution of gaming, token, and blockchain technologies to reduce barriers to entry for innovative game developers wanting to build a thriving play-and-own economy, thereby allowing for more web3-based interactive experiences to be created, and to reach a wider audience.

This will open the doors for players to enjoy a broader and more diverse gaming market where studios are limited only by their imaginations.

OBJECTIVE

The objective of this MIP is to propose a community wide governance and proposal process. The process includes the requirements for the tokenholders to submit proposals, the requirements that constitute a formal proposal, how the MIP is reviewed, and the voting procedures to take place by and from the community. Additionally, this MIP will establish the structure of the Mythos Foundation (the “Mythos Foundation” or the “Foundation”), which has been established to oversee and administer the Mythos Ecosystem, including the appointment of a special Council which will help manage and support the Foundation and MIP process.

The Mythos Ecosystem is initially focused on four key areas of development:

Cross-chain infrastructure and NFT transport
The evolution of NFTs and game economies for game developers and publishers
The growth of traditional esports participation in web3
Collaborating with traditional gaming platforms to craft new policies that support the next generation of games and gamers

DEFINITIONS

MIP: An MIP is an initial idea or proposal that proposes a new project, development, use case, feature, or change to any other MIP or process for the community to consider.

Formal MIP: A Formal MIP is an MIP submitted with all the information required in the template provided.

MIP Template: The minimum required set of information for a Formal MIP.

Live MIP: A Formal MIP that is put on Snapshot for a community vote.

Accepted MIP: An Accepted MIP is a Live MIP that has gone through the complete voting process and received a plurality of “For” votes.

Rejected MIP: A Rejected MIP is (i) a Live MIP that has gone through the complete voting process and did not receive a plurality of “For” votes; (ii) live MIPs with less than 1,000,000 MYTH tokens used in the voting process; (iii) when at the end of the voting period there is a tie between “For” and “Against” votes.

Special Council: The Special Council is comprised of five (5) members that serve an administrative, oversight and managerial function to the Foundation and Mythos DAO.

Subcommittee: Each Subcommittee consists of members from specialized groups to advise and support the Mythos Foundation in the growth, development, and integrity of the Mythos Ecosystem.

INTERNAL STRUCTURE

This MIP proposes the Mythos DAO governance structure involving the following parties:

MYTH token holders: Mythos DAO members will follow and use the governance structure in order to introduce and adopt measures and initiatives to further the development of the Mythos Ecosystem. MYTH token holders will submit MIPs, engage with other community members, formulate Formal MIPs, and answer questions from the community or Special Council.
Industry Subcommittees: These are made up of industry partners from three major areas of focus: Game Development & Publishing, Web3 & Metaverse Infrastructure, and Esports & Guilds. The list of initial subcommittee members is below.
Special Council: The Special Council is comprised of five (5) members including a representative from Mythical, Inc. (“Mythical Games”), and four (4) other representatives from the Subcommittees, including Animoca Brands, Hadean, FaZe Clan, and Third Kind Games. These initial members have been appointed by the Foundation pursuant to the Foundation’s corporate charter.

SPECIFICATION

The only requirement to participate in the Mythos DAO and related governance process is to be a MYTH tokenholder (i.e., to hold at least 1 MYTH token).

Discourse will be used for tokenholders or the Special Council to submit proposals, discuss with the community, and move through the proposal process. A tokenholder must sign up and connect their wallet to validate that they hold at least 1 MYTH token to participate in Discourse. Categories in Discourse will be created for the different phases of this MIP so the community can follow the status of MIPs as they move through the governance process.

Snapshot will be used to record tokenholder votes for MIPs that complete the proposal process.

SPECIAL COUNCIL

The Special Council plays a supporting and coordinating role for the Mythos Foundation and DAO. The Special Council, established through the Foundation’s corporate charter and whose duties and responsibilities are otherwise subject to the terms of the Foundation Bylaws, is the primary governing and administrative body of the Foundation and must attend meetings and vote on proposals with the Special Council Multisig wallet among other duties.

The initial Special Council is composed of five (5) members, including a Mythical Games representative, and four representatives from the Subcommittees. Special Council members will serve for one (1) year terms and, following the appointment by the Foundation of the initial members of the Special Council, the members of the Special Council will be subsequently elected by a vote of the tokenholders.

The initial members of the Special Council are as follows:

Yat Siu - Animoca Brands (Chairman)
Jaci Hays - FaZe Clan (Chief Corporate Alliance Officer)
Lars Koschin - Hadean (Chief Gaming Officer)
Cameron Thacker - Mythical Games (VP, Blockchain)
Rav Tharanee - Director & Co-Founder of Third Kind Games

PROPOSED SUBCOMMITTEES

As the Mythos Ecosystem evolves and grows, the Subcommittees may also increase or change to represent the Mythos Community. Members of the Subcommittees will serve for a term of one (1) year once elected.

Three (3) subcommittees will be formed to foster and promote the growth, development, and trajectory of the Mythos Ecosystem. The three (3) proposed Subcommittees will cover the following areas:

Game Development & Publishers
Esports & Guilds
Web3 & Metaverse

Founding Subcommittee members will cap at 40 participating companies. These founding Subcommittee members will each receive 500,000 MYTH tokens for serving on the Subcommittee subject to time and service based vesting conditions. There will be an initial lockup of 12 months for 1/3 of the tokens and the remaining 2/3 vest quarterly for the next two (2) years. To continue vesting tokens after one (1) year, Subcommittee members will need to be re-elected. Subsequent committee members, which will be capped at 100 companies that are added after the founding members, will each receive 250,000 MYTH. Additionally, Subcommittee members will need to actively participate and provide services in a combination of the following activities to qualify for continued vesting:

Marketing & promotion of the Mythos Ecosystem
Innovation and Development of technologies,tools, and/or games that further the development and growth of the MYTHOS Ecosystem
Collaboration with other Mythos community members
Ongoing assistance with management and oversight of the Foundation – including advice and feedback.
Such other activities or endeavors as are reasonably determined to foster or promote the development, interests, or goals of the Mythos Ecosystem

The initial set of Subcommittee members proposed to be approved by this MIP-1 are as follows:

Animoca Brands
Com2Us
CM Games
Double Jump Tokyo (OASYS)
EVOS
FaZe Clan
Gen G
Hadean
Kakao Games (Bora)
Klatyn
Krafton
Line
Netmarble (MarbleX)
PerBlue
Post Voyager (Cocone)
Sandbox Gaming (SBXG)
SEGA
Square Enix
Talon Esports
Third Kind Games
Ubisoft
WEMIX

PROPOSED ADVISORS

In addition to Subcommittee members, this MIP-1 proposes the appointment of a set of advisors to the Foundation that will serve a one (1) year term. To continue serving after one year, advisors will need to be reelected. Similar to Subcommittee members, advisors will be responsible for providing ongoing advice and guidance to the Foundation as well as identifying opportunities that will further the goals of the Mythos Ecosystem.

Advisors will receive a grant of between 50,000 - 250,000 MYTH tokens subject to time and service based vesting conditions. There will be an initial lockup of 12 months for 1/3 of the tokens and the remaining 2/3 vest monthly for the next two (2) years.

Vesting requires active participation such as:

Provide advice and guidance to the Foundation and or Special Council
Identify opportunities to support or promote the Mythos Ecosystem
Connect the Mythos Ecosystem with relevant individuals or organizations
Such other activities or endeavors as are reasonably determined to foster or promote the development, interests, or goals of the Mythos Ecosystem

The following are the initial proposed Foundation Advisors:

Rehito Hatoyama - Former COO of Sanrio
Yat Siu - Chairman of Animoca Brands
Pete Hawley - Chief Product Officer of 100Thieves
Jaci Hays - Chief Corporate Alliance Officer of FaZe Clan
Alex Pall and Drew Taggart - The Chainsmokers
Ryan Tedder - OneRepublic
Lesley Silverman - Head of Web3, UTA
Adam Bain - Partner at 01 Advisors, Former COO of Twitter
Ryan Wyatt - President of Polygon Studios
Campbell Law - Founder, Silverside Ltd.
Bradley Rose - Partner at Kaye, Rose, and Partners, LLP
Greg Lovett - Managing Director - Kushman / Founder - Video Game Supper Club
Omar Elassar - Global Head of Growth & BD of Parity
Matthew Rutler - EVP, Talent & Business Development of Masterclass
Alec Scheiner - Partner at Redbird Capital, Former President of the Cleveland Browns and COO of the Dallas Cowboys
Kent Wakeford - Co-Founder Gen.G Esports, Former COO of Kabam
John Fiorelli - Venture Partner at Kenetic
Jonathan Watson - Exec Producer / Director of The Righteous Gemstones, Vice Principals, Eastbound & Down
David Crockett - Executive Producer - World War Z, Argo, The Town, Hugo, A Cure for Wellness
Henry Lowenfels - Chief Product Officer of OneTeam Partners
Abe Burns - Former President - Digital of Maverick
Brian Marsh - Engineering Manager, Google
Joel Benton - Founder, Playtropic Videogame Services
James Minchin III - Photographer
James Norris - Sr Lead Designer, Soul Assembly
Gareth Morrison - Lead Art Director, Soul Assembly
Marti Romances - Creative Director, Territory Studios
Ali Alnuaimi - Founder & Managing Director of Shafra
Craig Zerouni - CTO, ReelFX
Carl Gotham - Advanced Design Director, SAIC Design Advanced London
James Maby - CEO of Sports Logistics, Ltd.

PROPOSED STRATEGIC PARTNERSHIP

Subject to the formal approval of the DAO pursuant to this MIP-1, the Mythos Foundation and Animoca Brands Limited (“Animoca”) have agreed in principle to a strategic partnership to engage in a variety of activities and endeavors to foster and promote the development, interests, and goals of the Mythos Ecosystem. This partnership involves, among other things, an Animoca representative serving on the Special Council, Animoca providing ongoing advice and support on the utility, governance, and exchange support for the MYTH token, and using other reasonable efforts to explore the utilization and deployment of Mythical’s blockchain platform, NFT marketplace and other technologies in connection with Web3 gaming and engage in potential partnerships, marketing, and promotional activities with Mythical Games and/or other Mythos Foundation members.

As part of the strategic partnership and related obligations described above, it is proposed that Animoca be granted 2,500,000 MYTH tokens subject to service and time based vesting conditions. One third (1/3) will vest after a period of twelve (12) months and the remaining two thirds (2/3) will vest ratably on a quarterly basis during the subsequent twenty four (24) months, subject to Animoca continuing to reasonably meet the required services.

The proposed Animoca strategic partnership contemplates the following additional activities, services, and token grants:

GAME ALLIANCE

Animoca may receive up to 8,000,000 MYTH tokens for integrating the Mythical Chain and Mythical Marketplace into games owned, controlled, or invested in by Animoca. A minimum of 1,000,000 MYTH tokens can be granted for each mutually agreed upon game. These grants are subject to certain time and requirement(s) vesting based on the commercial launch of the game and continued utilization of the Mythical Chain and Mythical Marketplace over a period of time.

NODE VALIDATION

Animoca has also agreed to become a node validator for either the Mythical Chain or other protocol blockchain operated by Mythos when available in 2023. For providing node validator services, Animoca would be granted 1,000,000 MYTH tokens. Such tokens are subject to time and service based vesting conditions.

TOKEN SWAP

Animoca and Mythos shall carry out a token swap of 5,000,000 MYTH tokens in exchange for the same value of tokens from Animoca subject to lockup and/or vesting conditions agreed upon by both parties.

PROPOSED DEVELOPMENT AND CONSULTING SERVICES

PERBLUE ENTERTAINMENT, INC (“PERBLUE”)

Subject to the formal approval of the DAO pursuant to this MIP-1, a game developer named PerBlue will provide certain technical, development, and consulting services for Mythos projects, particularly relating to the integration of its new blockchain-based game with a MYTH-backed token economy in partnership with Mythical Games. For this work, it is proposed that PerBlue be granted 2,500,000 MYTH subject to standard service and time based vesting conditions over a three (3) year period.

CREATIVE MOBILE OU (“CREATIVE MOBILE”)

Subject to the formal approval of the DAO pursuant to this MIP-1, a game developer named Creative Mobile will provide certain technical, development, and consulting services for Mythos projects, particularly relating to the integration of its new blockchain-based racing game, “Nitro Nation: World Tour,” with a MYTH-backed token economy in partnership with Mythical Games. For this work, it is proposed that Creative Mobile be granted 2,000,000 MYTH subject to standard service and time based vesting conditions over a three (3) year period.

MIP PROCESS

Phase 1: Submit An MIP

After an MIP is submitted, this process defines how it transforms into a formal proposal for consideration and voting by the Mythos Community. This includes a level of community support, incorporating relevant feedback, and putting together the formal proposal that moves onto the next phase in the governance process.

An MIP must be submitted as a topic in Discourse.
The topic is reviewed by a Foundation administration team to ensure the proposal is relevant and meaningful to the Mythos Ecosystem and its development, and otherwise meets community guidelines.
Mythos tokenholders engage with the topic and the author/team to informally gather feedback and initial support.
The MIP remains in Phase 1 for community discussion until all of the following are met:

Minimum Time Period: A minimum time period of seven (7) days is set to allow for sufficient time for community discussion. An author cannot request to continue forward in the process until the minimum time period is met.
Initial Support Level: An initial support level of twenty-five (25) votes in Discourse must be met to indicate initial community support. This will be defined as votes in Discourse from other tokenholders.
Explicit Request: The MIP shall remain in community discussion until the author believes they have received sufficient feedback from the community and explicitly requests to move to Phase 2. An author cannot request to continue forward until the Minimum Time Period has been met.
MIP Template: While the initial idea or topic may be submitted as a vague or ill-defined idea, it must follow a certain template and provide sufficient information to the community prior to moving forward. This formal template includes but is not limited to:

Summary: A summary of the proposal.
Background: Provide background information, if any, for the proposal.
Objective: Explain the goal of the proposal. Clearly state how and why the proposal will benefit or foster the interests or goals of the Mythos Ecosystem.
Team: Identify the team or persons that will execute or implement the specifications of the proposal.
Specification: Explain in detail the project, development, use case, feature, or change that is being proposed.
Implementation Plan: Clear step-by-step process on how the proposal will be executed or implemented and what resources, support, or contributions, if any, are being requested from the community and/or by the Mythos Foundation.
Cost: Define the budget or costs for the proposal.

Once all the criteria listed above are met, the MIP moves to the next phase in the governance process.
Withdrawn Proposals: Proposals may be withdrawn and exit the governance process in any of the following manners.

Specifically requested by the author.
A time period of inactivity or no posts of thirty (30) days.
A time period of activity or inactivity but without meeting the criteria to move forward in the process of sixty (60) days.

Phase 2: Review and Analysis of Formal MIP

The procedures for review and analysis for a Formal MIP. Critical considerations involve understanding the purpose of the proposal, how it benefits the Mythos Ecosystem at large, and the specific request(s) from the Mythos Foundation, if any.

In this Phase all MIPs will be assigned a unique identification number which will be used throughout all stages of the proposal lifecycle. The administration team will update the title of the topic.
The Mythos Foundation administration team will review the Formal MIP submitted by the author/team. Further questions may be asked if certain areas of the Formal MIP are unclear.
A risk-based approach is applied for the analysis.

Author & Team: Online presence, information, and any other relevant publicly available information about the author and team is reviewed.
Request: The request from the Mythos Foundation is clearly stated and unambiguous so that it can be fulfilled if the Formal MIP is accepted.
Operations & Risks: Identify the operational requirements and risks to the Mythos Ecosystem. This includes but is not limited to:

Legal risk;
Jurisdiction risk;
Sanctions risk;
Market and economic risks;
Product & services risk;
Key person risk;
Regulatory risk;
Operational risk;
Brand & reputational risk; and
Protocol, technology, and network risk.

Once the administration team has reviewed the MIP, has identified the operations and risks, and the support levels are met, the proposal and analysis is presented to the Special Council.
The Special Council may perform the following actions:

Ask additional questions to the author & team. Once these questions are answered, it is presented back to the Special Council for consideration.
Reject the Formal MIP: The Formal MIP may be rejected if the Special Council determines, in its reasonable discretion, that costs are not clear, there are material risks to or resulting from implementation, it may cause harm (including reputational harm) to the Mythos Ecosystem, requires a commercially unreasonable amount of assets or resources, does not align with or foster the objectives, interests or mission of the Mythos Ecosystem, or may violate any applicable laws or regulations.
Approve (through an affirmative vote of at least 3 of the Special Council members) the Formal MIP for official vote by the Mythos DAO.

Withdrawn Proposals: Proposals may be withdrawn and exit the governance process at this phase in any of the following manners.

Specifically requested by the author.
A time period of no or incomplete response to questions proposed by the Mythos Foundation administration team or Special Council within 30 days.

Phase 3: Voting Process

The voting process outlines the voting parameters, mechanics, procedures, and criteria for a Formal MIP to be considered officially accepted by the Mythos DAO.

If the Formal MIP has been approved for a tokenholder vote by the Special Council members, it is then posted on Snapshot for community voting.
Voting shall occur on Snapshot at enterthemythos.eth.
Votes will be counted by the number of MYTH tokens voted in favor of or against the Formal MIP.
Voting options will be “For” and “Against”.
Voting by a minimum of 1,000,000 MYTH tokens is required for a quorum in order to have a valid voting process. In other words, on any given vote, the number of votes “For” will be compared directly to the number of votes “Against” with a minimum of 1,000,000 MYTH tokens involved. If less than 1,000,000 MYTH tokens are voted, the Formal MIP will be considered Rejected.
Any Mythos tokenholder can delegate their vote at Snapshot.
Formal MIPs will be collected and set to open for vote Mondays at 7pm ET. At this point, the Formal MIP becomes a Live MIP.
The administration team can create the Snapshot vote up to 48 hours prior to when voting is opened.
The voting period shall last for 6 days and end Sunday at 7pm ET.
A Live MIP becomes an Accepted MIP if there are a majority of “For” votes. A Live MIP becomes a Rejected MIP if there are not a majority of “For” votes. A tie means the Live MIP becomes a Rejected MIP

Conflicts

One or more MIPs may be in direct conflict with one another. As a result, once a Formal MIP is approved for an official vote by the Special Council, any MIPs or Formal MIPs that are in direct conflict with the Formal MIP shall be put on pause until the vote has taken place. If the Live MIP becomes an Accepted MIP, the MIPs and Formal MIPs in progress are considered null and void. If the Live MIP becomes a Rejected MIP, the MIPs and Formal MIPs in progress are unpaused and continue through the governance process.

An Accepted MIP shall be given a period of three (3) months after implementation before an MIP that is in direct conflict can be submitted into the governance process. This provides time for the Accepted MIP to develop and minimizes the duplication of Mythos Ecosystem assets and resources.

ELECTIONS

Following the initial appointments of the members of the Special Council, Subcommittees, and Advisors set forth in this MIP, subsequent elections (i.e., after the first one (1) year term) and the proposed terms thereof (including, e.g., staggered terms) will be held via the MIP process with an MIP created for the Subcommittee members, Special Council members, and Advisors proposed to be elected.

VOTING

Since all tokenholders are entitled to participate in DAO governance, a custom Snapshot voting strategy will be employed for MIP-1 only. This will allow token holders to vote with locked or unvested tokens in addition to unlocked tokens. Thereafter, the custom strategy will be retired and tokenholders will be allowed to vote only with unlocked and, as applicable, vested tokens.

RESTRICTIONS

Mythical Games Token Voting
To enhance and further the decentralization of the Mythos Ecosystem, Mythical Games agrees not to use its allocation of MYTH tokens to vote on any proposals for 1 year from the date of this proposal.

COSTS

Fees to Administration Service Providers

Providing administrative, operational, and project management support for the Foundation and the Mythos Ecosystem
Acting as the moderators and administrators in Discourse
Acting as reviewers, preparing analysis reports, and prepares supporting documentation when necessary
Will be paid $175,000 and granted 105,000 MYTH tokens per month, with MYTH tokens being subject to certain vesting conditions over a 3 year period.

Discourse Enterprise

Discourse is the discussion platform used to host all topics by the community before formalizing into proposals. The Enterprise account allows for plug-ins, which allowed us to build a custom token-gating solution that verifies that a Discourse users are MYTH holders
$1,750 per month, paid on a monthly basis