Shape the Future of Mythos
Learn how to participate in governance and use your MYTH tokens.
How to Use MYTH: Step-by-step Guides
New to MYTH? These quick guides walk you through voting, staking, bridging, and more.
Making your MYTH balance visible on SubWallet
How to transfer MYTH using SubWallet
How to create an account on SubWallet
How to link SubWallet to the Mythical Marketplace
How to stake your MYTH on SubWallet
How to buy items with MYTH on the Mythical Marketplace
What is Mythos Governance?
Mythos governance is driven by MYTH token holders ("the public"), supported by a Special Council and a Technical Committee. Together, these groups collaborate to submit proposals, vote, and enact on-chain upgrades and protocol decisions.
Public
Any MYTH token holder can submit proposals and vote on referenda
Special Council
5 total seats (currently 3 active members) that review proposals and manage treasury
Technical Committee
Estimated 3 members providing technical expertise and fast-track support
Governance Framework Overview
Public (MYTH Token Holders)
Any MYTH token holder may submit:
- Public Proposals – enter a public queue and are prioritized based on support (amount of MYTH backing)
- Treasury Proposals – must be reviewed and approved by the council before going to a referendum
Special Council
Total Seats:5
Currently Active Members:3
Role:Reviews and approves treasury proposals, bounties, and fast-track governance actions.
Council members can initiate Council Proposals via council motions with different voting thresholds based on urgency or risk level.
Responsibilities:
- Submitting proposals (via council motions)
- Approving/rejecting treasury spending
- Managing fast-track approvals from the Technical Committee
- Electing and removing technical committee members
- Canceling referenda when necessary
Technical Committee
Estimated Members:3
Role:Supports fast-tracked proposals and provides technical oversight and expertise.
They cannot submit proposals directly, but can fast-track them (with Special Council approval) into an accelerated referendum.
Council and technical committee members are appointed by the foundation.
| Public Proposal | Submitted By | Notes |
|---|---|---|
| Public Proposal | MYTH Holders | Requires minimum MYTH deposit, ranked by total MYTH backing |
| Treasury Proposal | Public / Special Council | Requires Special Council approval, 7-day voting period, limit of one treasury proposal execution every 7 days |
| Council Proposal | Special Council | Submitted via council motions, follow different voting thresholds |
| Fast-Tracked Proposal | Technical Committee | Requires council approval, skip standard wait periods |
Supporting Proposals
- Proposals require a minimum MYTH deposit to be submitted
- Deposit is refunded if the proposal becomes a referendum
- Public queue proposals are ranked by total MYTH backing
- MYTH holders can second a proposal to increase the backing
Cancelling Proposals
- Can be cancelled by the Public or Technical Committee (unanimous vote)
- Cancelled proposals result in a slashed deposit (goes to the treasury)
| Type | Voting Period | Enactment Delay | Total Time |
|---|---|---|---|
| Standard | 7 days | 8 days | 15 days |
| Fast-Tracked | Varies | Immediate or short delay | Varies |
Referendum Types
- Positive Turnout Bias – requires a supermajority of aye votes to carry at low turnouts, but as turnout increases towards 100%, it becomes a simple majority. This is called a positive turnout bias because the required margin of ayes decreases as turnout increases.
| Formula: Against ÷ √Turnout < Approve ÷ √Electorate
- Simple Majority – requires >50% aye votes
- Negative Turnout Bias – requires a supermajority of nay votes to reject at low turnouts, but as turnout increases towards 100%, it becomes a simple majority. This is called a negative turnout bias because the required margin of nays decreases as turnout increases.
| Formula: Against ÷ √Electorate < Approve ÷ √Turnout
Referenda alternate between:
- Top proposal from the public queue
- Proposal from the Special council queue
Treasury actions are handled with extra oversight to ensure responsible use of ecosystem funds.
Treasury Proposals
- Submitted by: Public or Special Council
- Approval Required: Special Council
- Voting Period: 7 days
- Limit: Only one (1) treasury proposal can be executed every 7 days
The Mythos Treasury funds:
- Development grants
- Community initiatives
- Protocol improvements
Token Locking Requirements
- Must lock MYTH tokens for at least one enactment period to vote
- Longer locks grant higher conviction (voting power)
- Only the longest lock counts toward voting power
- If voting on several proposals, the longest lock time is the one that counts
- Enactment Period: 8 days after a proposal passes before it is implemented
Conviction Voting
| Conviction Multiplier | Lock Duration | Days Locked |
|---|---|---|
| 0.1x voting balance | No lockup period | 1 day |
| 1x voting balance | Locked for 1 enactment period(s) | 8 days |
| 2x voting balance | Locked for 2 enactment period(s) | 16 days |
| 3x voting balance | Locked for 4 enactment period(s)< | 32 days |
| 4x voting balance | Locked for 8 enactment period(s)< | 64 days |
| 5x voting balance | Locked for 16 enactment period(s) | 128 days |
| 6x voting balance | Locked for 32 enactment period(s)< | 256 days |
Vote Delegation
- Token holders can delegate votes to another account
- Delegated votes include conviction multiplier
- Can be reassigned or revoked at any time
FAQ
Standard proposals take approximately 15 days to complete the full governance cycle, with a 7-day voting period and an 8-day enactment delay. Fast-tracked proposals have variable timeframes but are enacted much more quickly.
Any MYTH token holder can submit a public proposal or treasury proposal, though the latter requires Special Council approval. Proposals require a minimum MYTH deposit to be submitted, which is refunded if the proposal becomes a referendum.
The Special Council is a governing body with 5 total seats (currently 3 active members) that reviews and approves treasury proposals, manages fast-track approvals, and submits council proposals. Council members are appointed by the foundation and play a crucial role in Mythos governance.
You can increase your voting power through conviction voting by locking your MYTH tokens for longer periods. The conviction multiplier ranges from 0.1x with no lockup to 6x for tokens locked for 32 enactment periods. Only the longest lock counts toward your voting power across all proposals.
Treasury proposals can be submitted by the public or Special Council but require Special Council approval. They have a 7-day voting period, and only one treasury proposal can be executed every 7 days to ensure careful oversight of ecosystem funds.