Totems
Last updated
Last updated
A totem is a token tied to a community on Mytho. It’s not just a random coin for trading—it stands for something your group cares about, like a philosophy, a lifestyle, or even a funny meme that brings people together. You can:
Create a new totem from scratch to build a fresh community.
Use an existing token (like ASTR or ETH) or an NFT as your totem if your group already has one.
For example, a gaming club could make a new “Gamer Legion” totem, or an existing project like Algem could bring its ALGM token to Mytho as a totem. Either way, it’s a digital symbol of your community’s identity.
Here’s the step-by-step process:
Start with an Idea: Decide what your totem represents—like a music fanbase or a social movement.
Choose Your Type:
New Totem: You set its name, thesis (what it’s about), and basic rules.
Existing Token/NFT: Link an existing token (e.g., ASTR) or NFT you own to Mytho as your totem—no minting needed, just integration.
Set the Details:
Title: Name your totem (e.g., “Punk Rock Rebels”).
Thesis: Write a short description of its purpose (e.g., “Uniting punk fans worldwide”).
Avatar: Add an image to represent it.
Rules: Define guidelines for content layers (e.g., “Only punk-related posts”).
Launch It:
For new totems, Mytho creates an initial supply of tokens (1 billion total).
You get totems as a creator bonus to start posting layers— 250,000 tokens.
Initial sales start (Initial liquidity pool)
Initial Liquidity Pool:
Tokens for Sale: 699,750,000 totems (nearly 70% of the total supply) go into an initial liquidity pool. Anyone can buy them using MYTHO (or ASTR on initial stages) tokens at a fixed price of $0.00004 per totem.
Buyer Limit: Each person can buy up to $800 worth, or 5 million totems, giving the totem a Fully Diluted Market Cap (FDMC) of $40,000 at launch.
All 699,750,000 tokens in the pool are sold at the same price to everyone—no discounts or priority.
If tokens don’t sell out, buyers can swap them back for MYTHO, and those totems are burned but can be re-minted later.
Where Funds Go: The MYTHO you spend doesn’t go to the platform or creator. Instead:
71.426% goes to the totem’s treasury.
28.5714% pairs with 200 million totems (20% of supply) to create a liquidity pool on AMM.
After Full Sale:
Once all tokens are sold:
The treasury gets its 71.426% of collected MYTHO.
The liquidity pool on AMM is set up with 26.5714% of MYTHO and 200 million totems.
Community Control: The liquidity pool’s LP tokens are sent to the treasury and belong to the community, not the creator or platform. Members vote on how to use them, like withdrawing liquidity later.
Treasury Bonus: 10% of the total supply (100 million totems) is sent to the treasury for community use, decided by voting.
Mytho lets you bring an existing token or NFT into the platform and turn it into a totem for your community. This means communities with their own tokens—like a project’s cryptocurrency or a unique NFT—can join Mytho and use its tools. Here’s how it works and why it’s a win for them.
How It Works:
Pick Your Token or NFT: If your community already has a token (e.g., ASTR from Astar Network) or an NFT, you can integrate it into Mytho instead of minting a new totem.
Set It Up: Register it on the platform with a title, thesis (what it’s about), avatar, and rules—just like a new totem. No need to create a new supply; you use what you’ve got.
Add a Treasury: Mytho creates a treasury for your totem, tied to your existing token or NFT. This treasury starts empty but grows with MYTHO earned through the Merit system.
Full Access: Once integrated, your token or NFT works like any native totem—layers can be added, Merit points earned, and the community can vote on decisions.
Advantages for Existing Tokens:
Extra Utility: Your token gets new uses on Mytho—like posting layers, boosting content, or voting. For example, certain meme coin holders could now add videos to their totem’s page, making the token more than just a tradeable asset.
More Income: Through the Merit system, your totem earns MYTHO tokens for actions like adding layers or inviting members. This MYTHO goes to the treasury, giving your community funds to grow—like paying for events or rewarding contributors.
Stronger Community: Layers let everyone contribute content, bringing your group closer together. If Algem joins, its fans could post memes or updates, building a tighter bond around ALGM.
Same Features: Your token gets all Mytho benefits—governance, boosting, and treasury management—without starting over. It’s like plugging into a ready-made system.
Example: Imagine the Astar Network community with its ASTR token joins Mytho. They set ASTR as their totem, start a treasury, and let members add layers like tutorials or fan art. The totem earns MYTHO through Merit, which they use to boost visibility or reward creators—all while keeping ASTR as their core token.
Owning a totem means you have a stake in its treasury—a pool of MYTHO tokens that grows over time. Mytho builds in safety features to protect you from risks like scams or weak communities. Here’s how it works:
Your Share in the Treasury: When you buy a totem, it’s like owning a piece of its treasury. The treasury starts with MYTHO from the initial sale (71.426% of funds collected) and 10% of the token supply (100 million totems). It grows more as the totem earns MYTHO from Merit points. Your totems represent your portion of this stash.
Safety During the Initial Sale: Before the initial pool of 699,750,000 totems sells out, you’re protected. If the totem isn’t gaining traction—maybe the idea’s weak or the creator’s not ready—you can swap your totems back for the MYTHO (ASTR) you spent. Those totems get burned (taken out of circulation) but can be re-minted later for others to buy.
Safety After Full Sale: Once the pool sells out, your totems still keep you secure. At any time, you can exchange them for tokens from the treasury, based on how many totems you have compared to the total supply. For example, if you own 1% of the totems, you get 1% of the treasury’s tokens. When you do this, your totems are permanently burned—gone for good, reducing the supply.
Why This Helps:
Weak Start Protection: If the totem doesn’t sell out, you can get your MYTHO back, no loss. Burned totems show it’s not ready yet.
Creator Fails: If the creator loses interest or the community flops after the sale, you can cash out your share from the treasury. Permanent burning shrinks the supply, which can benefit remaining holders.
Profit Chance: If MYTHO’s price rises faster than the totem’s, the treasury might be worth more than the totem’s market value. Swapping totems for MYTHO could give you a gain, and burning helps those who stay.
Burning Benefits: Every time totems are swapped and burned—whether before or after the sale—it lowers the total supply. Fewer totems can make the ones left more valuable for holders who stick around.
Why This Matters
Your totems aren’t just tokens—they’re your claim to the treasury’s tokens. If things go wrong, you can exit safely with your share, and burning keeps the system honest. It’s a clear way to protect you from bad starts or fading communities while rewarding those who stay.
Owning a totem isn’t just about holding a token—it gives you real power and access on Mytho. The platform makes totems useful by tying them to specific actions and benefits, ensuring they’re valuable for the community. Here’s what totems do:
Access to Features: You need to own totems to use the platform fully. This includes:
Creating Layers: To post content (like memes or videos) on a totem’s page, you must hold at least $5 worth of its totems.
Boosting Layers: Locking totems to promote a layer and make it more visible requires ownership too.
Hidden Content: Some layers are private—only totem holders can see them, giving you exclusive access.
Voting Power: Totems let you vote on big decisions for the community. These votes happen often and can include:
Treasury Airdrops: Splitting some MYTHO from the treasury among totem holders.
Rewarding Contributors: Sharing MYTHO with members who help the totem grow.
Managing Trading Pool: Deciding how to handle the totem’s liquidity pool on Mytho AMM (e.g., withdrawing funds).
Admin Changes: Picking a new community leader if needed. You need totems to have a say, making them a key part of running the show.
Why It’s Useful: Holding totems isn’t just for fun—it’s how you join in and shape the community. For example, if the “Punk Rock Rebels” totem has a treasury full of MYTHO, you vote on whether to reward a cool layer or boost the totem’s profile. It’s a tool to keep the group active and strong, not just a collectible.
