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MYST Token


What is MYST token?

MYST is the native utility token at the heart of Mysterium. It will power the staking mechanism within the network, and allows you to pay for VPN services.

Mysterium’s Tokenomics 2.0 model will create new opportunities for both node runners and token holders alike. Soon you’ll be able to stake your MYST to run a node, or add your tokens to the Mysterium Delegation Pool, to earn rewards in DAI stablecoin.

Tokenomics 2.0 - Powered by the IQ Protocol

The IQ Protocol is a groundbreaking solution that brings Mysterium Tokenomics 2.0 to life. It’s designed to provide a completely risk-free environment for Mysterium delegators and renters. Read about it here.

MYST Tokenomics 1.0

Purpose:

MYST is the utility token native to Mysterium Network. You can pay for, and receive payment for VPN services in Mysterium Network with MYST.

Funding Breakdown:

In early 2017, Mysterium Network founders envisioned a future where users all over the world would be able to access information freely. From this, the concept of decentralised VPN (dVPN) was born.

Token details:

In May 2017 a token sale was performed on BitcoinSuisse. The token issued during the TokenCreation is known as the Mysterium Token or MYST. This is the only time that these tokens were created. No future MYST will be created. As such, the total supply of MYST is fixed.

Token sale start date:30/05/2017
Token sale end date:30/05/2017
Token price during funding:1 MYST = 1 CHF
Crowdfunding hard cap:14,000000 CHF
Amount of funds collected via Crowdfunding:13325693 CHF
Total supply:32 433 365 MYST
Funds allocation:Treasury 15,00%
Ecosystem Incentives:7,99%
Marketing:6,50%
Bounty:8,74%

Note! Circulating supply is dynamic, due to the upgrade of legacy MYST (pure ERC20) to new MYST (ERC20 with permit: 712-signed token approvals). Circulating supply is the total number of migrated tokens to the new 0x4Cf89ca06ad997bC732Dc876ed2A7F26a9E7f361 address.

Part of MYST supply was reserved for the future as an additional fundraising mechanism for the Mysterium network project to continue development. Tokens reserved for future funding were locked for 12 months, after which they were sent to a multi-sig-wallet belonging to Mysterium Foundation. You can find the detailed tokens allocation in our whitepaper.

KYC compliance:

Mysterium team hasn’t collected information except for email addresses from contributors.Everyone interested was able to participate in the token sale, except for US citizens.

Utilization:
  • Mysterium Network underwent a soft network fork in early December. Both nodes and users will be upgraded onto Testnet 2.0. You can see more details on our upgrades here.
  • MYST tokens will be actively used after this soft fork. To this point, we have been running an incentivized test network but paying out incentives from Mysterium. MYSTT – a separate test token – was used in the network on our Testnet. This step is one of the first that will take us towards peer to peer payments in MYST. We forked the network so as to implement payment integrations and allow end-users to pay for service consumed.
  • MYST token does not give any voting rights.
  • MYST tokens are not backed by, pegged to, or redeemable for any other asset.
  • Mysterium does not provide staking or any other options of earning MYST tokens, except for by providing VPN services for Mysterium dVPN and other client applications on our network.
Token liquidity:
  • The integration of payments in MYST will create and maintain demand for our tokens, so we expect an increase in trading volume, token price and overall liquidity in the main markets. No buybacks or burning of tokens are planned.
  • Mysterium Team will not manipulate the market to artificially inflate or deflate the price or influence the behaviour of the market to gain financial benefits.

Token migration

Already hodl MYST? Then you’ve come to the right place. Mysterium has started upgrading its token to MYSTv2.

While there will be no time limit for migrating tokens, please be aware that only the new token standard will be used in the Mysterium Network payment system and actively traded on exchanges. Find out how to migrate your token.

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