Mithril (MITH) - A decentralized social media platform that rewards all content creators.
Mithril - Intro
Mithril is a decentralized social media platform on the Ethereum Blockchain. Mithril
will integrate into new and existing social media networks to reward content creators
for contributions to the network - we call this Social Mining.
Mithril (MITH) will leverage blockchain technology to ensure that transactions are
secure and safe for all participants. This technology revolves around decentralized
data storage that can record transactions between parties in a efficient, trustless,
and immutable manner.
MITH will launch as a utility token on Lit, an innovative social media platform that
addresses the needs of this current generation of users. This younger generation of
social media users seeks a platform that addresses both their needs as early crypto
adopters as well as their evolving needs in social media. Features such as instant
messaging, story feeds, and discovery of new friends are all built into Lit for launch.
Lit will enable Social Mining of MITH to reward users for contributing their personal
content to the network, and provide the Mithril Vault for its users to store, use, and
exchange MITH for BTC and ETH. Lit will seamlessly integrate into into major social
networks to help users more easily monetize their personal content.
With MITH tokens, users will be able to spend it across the MITH application
ecosystem, such as dating services, premium content channels, and live-stream
applications. The Mithril Merchant Network aims to allow retail acceptance of MITH
as a payment method, beginning with retailers in Taiwan and Hong Kong at launch.
The MITH network, armed with its user base of social influencers, will be a
highly-desirable customer base which Mithril Merchant Network partners will benefit
through a deep MITH integration.
Lit has been developed to fully integrate with the MITH token, and has laid out a
three-part plan to establish and grow Mithril’s network value:
1. Drive network and user adoption for the Mithril platform.
2. Develop a system of rewards and benefits for users and partners.
3. Enable mobile wallet to spend MITH at both retail and online Mithril Merchants .
Lit will serve as the leading platform to illustrate the network value of a decentralized
contributor model and act as the cornerstone for future digital and social media
The Mithril team will assist in integrating the Mithril ecosystem into our launch
partner social media platforms and help bring their users into the Mithril network.
Mithril Solution Overview
The Mithril token is an ERC-20 token.
The Mithril team has implemented exciting new features to help rebalance the
current social network ecosystem. We are implementing a new mining concept we
term “Social Mining”. Social Mining seeks to automate content monetization and will
equitably reward all content contributors with MITH.
Our decentralized model will give power back to the content creators, thus providing
incentive for content creators to deliver quality content and attract highly-influential
users and viewers. This is the genesis of the Mithril ecosystem. With the large influx
of quality users and viewers, we believe that the Mithril ecosystem will quickly
generate significant amounts of revenue for Mithril partners and their content
producers, thus making the Mithril network more sticky for both content creators as
well as Mithril Partners. This creates a virtuous cycle that enables sustainable
Another feature of the Mithril ecosystem is the Mithril Vault. Mithril partner platforms
and users can leverage this tool to track, maintain, and manage their MITH across
multiple networks. Ease of use and security is a priority for the Mithril Vault. We seek
to provide seamless integration to the Mithril Vault across all partner platforms.
A new concept that is integral in the new Mithril ecosystem is Social Mining. The idea
is simple. As users produces valuable, user-generated content on the network, they
will earn MITH via Social Mining. Their mining rewards will be directly linked to their
influence and success as a contributor on the network. The more network value they
bring to the platform, the more MITH they will earn. All mining efforts and rewards
will initially transact via the Ethereum Network.
35% of the total Mithril pool will be available for users to mine via Social Mining. For
the next several years, a total of 350 Million Mithril will be distributed to users of the
Mithril network through Social Mining. The Mithril quantity that is available for
discovery will be halved annually over the course of a predetermined number of
years. At the end of this mining period, all 350 Million Mithril will have been mined
and distributed. Social Mining will have distribution controls that will act similarly to
Bitcoin’s dynamic difficulty retargeting adjustments.
The above graph displays the Mithril distribution model via Social Mining. This model
awards early adoption of the Mithril token, as Social Mining rewards are reduced
exponentially. Initially, network growth will be driven via larger MITH mining rewards.
As Mithril user base and network scales, Mithril’s network value will increase
accordingly, allowing the lower MITH reward to continue as an effective incentive for
Social Mining to continue.
All Social Mining transactions will be verified and secured via Ethereum smart
contracts, providing a safe and reliable infrastructure for Social Mining. All
transactions can be tracked and verified on the Ethereum blockchain, creating a
much-desired transparency for all users and partners on the Mithril network.
The Mithril Vault will be an easy-to-use transaction system for each user and partner
platform to manage, secure, and spend their Mithril. We seek to lower the barrier of
entry for users of all platforms and allow for cross-platform integration of the Vault.
The Mithril Vault will feature reward estimation tools that can estimate a user's Mithril
reward based on their recent contributions. The reward estimation tools will show
users a rough estimate of their potential Social Mining Rewards.
The ultimate goal of the Mithril team is to become the best and most optimized
blockchain for social network applications. The first step to achieving this goal is to
integrate MITH into all major social networks. Mithril features are intended to be
leveraged across any major social media to give all users direct impact over their
social content ownership, thus awarding them for their work on any relevant social
network. Furthermore, we are exploring MITH acceptance on partner apps and
services, where MITH may be accepted as a form of social currency to pay for
premium features and services on these platforms.
The Mithril Integration Protocol is designed for seamless integrations between social
networks and the Mithril Ecosystem. Through this protocol, we intend to make
integration of the MITH token, Social Mining, Mithril Vault, Mithril Merchant Network,
and other Mithril features easy for major social networks.
As blockchain platforms continue to evolve, we intend to continually assess
platforms for their ability to support the best and most optimized social network
token. Scalability, transaction cost, and community support are the top metrics by
which we will measure platform viability. As Mithril evolves, we intend to keep close
watch on leading Ethereum scalability solutions such as Plasma , Raiden Network , as
well as platforms outside of Ethereum, such as EOS and Zilliqa . Finally, we intend to
explore the option of launching our own Mithril blockchain to best address the needs
of social network applications, swapping all ERC-20 MITH token holders onto our
Mithril Merchant Network
In addition to having apps and services accept MITH as payment, we are also
working toward a broader merchant network across physical, brick-and-mortar retail
acceptance of MITH. Among the first retail partners that will accept MITH at launch is
inst.recycle1, Taiwan's largest celebrity vintage and used clothing retailer. To join the
Mithril merchant network, contact us at [email protected] .
Token Exchange — 30%
The token exchange takes place in two rounds of private placements. The first round
of placement has ended.
Development Team — 5%
Our team is committed to long-term growth. Team tokens will vest over 4 years with
a one year cliff.
Community Development — 20%
There will be several bounties program, security testing, and smart contract auditing.
We will also provide incentives for early adopters and key influencers.
Early Backers and Advisors — 5%
Future Reserves — 5%
Social Mining — 35%
The participants in the Mithril ecosystem will receive rewards based on their
contribution to the social network. As contributors provide valuable content and
increase network value, they will receive mining rewards. Mining rewards will
decrease annually for the next several years of the Mithril ecosystem.
Latest update! Introducing Lit’s new feature: Archive!
With the launching of video editing feature, we’ve received tremendous feedbacks from our users, hoping to preserve the stories they’ve shared on Lit in the future. We’ve heard you! Mithril is launching a brand new feature, “Archive”, for you to review and collect all your posts, making it your personal diary.
Let’s see how it works!
In the latest update of Lit, we have seperated your posts into two sections: “Latest” and “Archive”.
Archive: appears in your profile page, it works as your personal gallery, collecting all your posts from the past.
Latest: a feature that all Lit users must be familiar with. It collects your stories over the past 24 hours. Through the algorithm of Lit, content creators are rewarded the MITH tokens through social mining based on their content quality and performance.
Two Developing Keypoints
There are two highlights of the new feature “archive”:
- Throw back to the good times you once shared
No longer need to screenshot to save a post when using Lit! You can now review all your previous posts in the “archive” section. You can always take a trip down the memory land whenever you want!
2.Review your social mining performance
It enables you to review and analyze the social mining performance of each post, as well as to optimize the content to accelerate your social mining speed.
*Please note that the MITH you acquire through social mining on Lit will only be calculated within the 24 hours after posting.
This new feature is now available to download in the latest update for both iOS and Android device. Want to try out this new feature?
Update your Lit now: https://mith.pse.is/9E8BD
Mithril Roadmap 2018–2019
Mithril reveals its roadmap — Here is a sneak peek of Mithril’s plan for the future:
In light of the popularity of Vault’s latest feature “Shift”, Mithril will support the exchange of MITH tokens with Bitcoin, as well as other ERC20 tokens in Q4, in addition to Ether now.
Mithril kicked off in 2018, and will leap forward in 2019, as it introduces MITH Payments and the Mithril Ad Network in H1 2019.
Payments is the next big thing for Mithril. While building strategic partnerships, Mithril is also developing APIs to connect with different payment networks and companies to facilitate payment. When “MITH Payment” comes live, it will dramatically advance the circulation of MITH tokens.
Mithril Ad Network serves as a network for companies to gain access the millions of users on the Mithril network through advertisements , and for users to promote their content. The unique social regenerative model of Mithril allows content creators to invest MITH tokens rewarded from social mining, back into the ad network to reach an even larger audience!
Stay tuned to find out more about our developments, partnerships and joint programs!
Mithril Weekly | 秘銀週報 8/24/2018
Aug 22 — We are launching a new interface for Mithril Vault on mobile devices for better user experience! Check out the news title for more details.
The Mithril ecosystem has been rapidly expanding. Yet perhaps most users only have vague idea of what Mithril is trying to achieve and what it has to do with Lit.
Mithril has been discussing partnership opportunities with several companies regarding using MITH tokens as a payment method. Soon, MITH holders would be able to put their asset into use with diversified entertaining services with MITH tokens. Click the news title for details.
Did You Know- Chinese Ghost Month
August 22 — On the first day of Lunar July, people believe that the gate to the underworld opens and the spirits return to the living world for a one-month “vacation”. During this month, families and companies would set out a table of food and offerings as tribute to the ancestors to pray for everyone’s safety during this month. Mithril brought in creativity into the ghost month, combining tradition to the bounty of the week, letting users earn rewards by guessing what the offerings are, drawing 5 winners. Mithril is one creative representative in the cryptocurrency world!
See you next week!
看週報長知識 — 中元節特別企劃
A Leader in Social Mining, Mithril is Going to Korea｜社交挖礦領軍，秘銀將進駐韓國市場
Targeted at the global cryptocurrency market, Mithril is branching out, in particular to the Korean market where the development is the fastest and discussions are the most heated. Mithril is making its first stop in Korea.
Mithril has invested significantly in getting MITH Token listed on Bithumb, the largest exchange in Korea, upcoming listing on OKCOINkorea and CoinZest will also be the momentum to give Mithril a big push in Korea.
Exploring the potential in the Korean cryptocurrency market, Mithril has set up several channels including Korean telegram and Kakao account, to give Korean cryptocurrency holders access to Mithril news network. Surveys show that Korean cryptocurrency holders are strongly interested in the “social mining” concept advocated by Mithril and identify with the principle that “creations have values”.
Mithril will be hosting a party in Seoul and inviting all cryptocurrency holders in Korea. Let’s create opportunities and enjoy social mining!
미스릴의 비즈니스는 글로벌 화폐시장을 목표로 삼아 해외까지 확장하고 있습니다. 이 중 미스릴에서는 발전속도가 빠르며 가상화폐에 대한 토론도 가장 뜨거운 한국을 첫 해외시장 진출 국가로 정했습니다.
미스릴은 많은 자원을 투자하여 순차적으로 한국 최대 거래소인 빗썸(Bithumb), OKCOINkorea와 코인제스트(CoinZest)에 상장하여 정식으로 한국시장을 진출하였습니다.
한국 가상화폐시장의 잠재력을 높게 보고 미스릴에서 한국 공식 텔레그램, 카카오 오픈채팅방과 카카오 플러스친구 등 커뮤니티를 개설해 한국 홀더들이 미스릴을 더 많이 접촉할 수 있게끔 네트워크를 구축하였습니다.
다가올 하반기에 서울에서 미스릴 파티가 열릴 예정이며, 이 자리를 통해 많은 한국 홀더들이 참석해 소셜 마이닝의 매력을 느껴보는 시간이 되었으면 하는 바램입니다.
秘銀投注大量資源，不僅與韓國最大交易所 Bithumb 合作上幣，更陸續與知名交易所如 OKCOINkorea、CoinZest 展開上幣計劃，厚實在韓國當地的發展實力。
看準韓國貨幣市場的潛力，秘銀快速設立韓文電報群、官方 Kakao 等連絡渠道，提供韓國持幣者更多接觸秘銀的消息網絡。據了解，韓國持幣者對秘銀所提倡的「社交挖礦」有高度興趣，更認同秘銀所一直強調的「創作有價」理念。
Mithril Vault — Your first Cryptocurrency Wallet｜秘銀金庫-你的第一個虛擬通貨錢包
Mithril Vault has arrived among great anticipation of the crowd.
It is more than just a tool for withdrawing MITH tokens acquired from social mining. Mithril has a long-term plan in mind for Mithril Vault.
Logo and interface design
At first, we thought a medium to withdraw MITH tokens acquired from social mining is all we need. Considering that Mithril aims to bring more people on board the social mining train, as well as acquaint, comprehend and use cryptocurrencies, the user interface and user experience are tailored to be as simple as possible. The logo design and color pallet brings out a sense of technology, yet hospitable at the same time — diminishing the stiff distance that most blockchain products possess.
In addition, the interface design intentionally avoided overly-fancy designs. Clear and simple 2D images are used, matched with concise lines and buttons for users to easily navigate within and locate the feature they’d like to use, as well as quickly understanding the functionalities. Up until today, Mithril team is delighted to have received feedback from users about how beautiful yet comprehensible the interface design is.
Mithril Vault Features
As a tool in response to the demands of social mining, withdrawing tokens is undoubtedly the first step.
For users to operate effortlessly, connecting Mithril Vault with Lit is extremely easy. If you wish to withdraw MITH tokens and wire into other users’ cold/hot wallets.
In addition to withdraw, Mithril Team came to contemplate that: since social mining has introduced most users to cryptocurrencies, then Mithril Vault must be the first cryptocurrency wallet for those users. We understand for beginners, transferring assets to other location can be complex and troublesome. Therefore, “shifting” is created.
“Shifting” enables users to exchange and use MITH tokens acquired from social mining. Compared with the complicated orders on exchange platforms, shifting allows users to exchange MITH tokens at a fair rate with only one click. The first available token is Etheruem, and we also have other currencies in line.
The concept of staking is about rewarding those who believe in Mithril team and enhancing the mechanism of social mining.
As you’ve locked MITH tokens into Mithril Vault through “staking”, your social mining speed will be accelerated depending on the amount you’ve staked.
We’re delighted to see some users posting entries about what they think about staking! We’re currently undergoing a feature update on “staking”, adding some more fun to social mining!
Where Mithril Vault Lies in the Mithril Ecosystem
If you’ve been reading our posts about the Mithril Ecosystem, you must know that we have an ambitious goal to reach.
From acquiring MITH tokens through social mining to the withdraw feature at Mithril Vault, we’re also thinking: as the first ever cryptocurrency wallet for more users, is there anything else that we could do?
From introducing the concept of wallet and asset management, to making payments at actual stores, Mithril hopes to penetrate daily life with the concept of cryptocurrency and blockchain technology through Mithril Vault. Mithril aims to become the most accessible token — easily acquired, used and present. Mithril Vault is the crucial essence of such goal.
The product team of Mithril Vault takes great responsibility in its feasibility and functionality, as well as making cryptocurrency easy-to-use.
We will soon release Mithril Vault’s future development blueprint. Stay tuned!
We look forward to any recommendation from our users!!
一開始的構想，確實只是希望能夠有個能夠提領社交挖礦所獲得的秘銀幣的工具。考慮到秘銀的目標就是希望讓更多人透過社交挖礦接觸、認識、使用虛擬貨幣，金庫從一開始的 UI & UX 設計走的就是極簡風，logo 與色調的設計想要在帶有科技感的同時，卻不像一般區塊鏈公司的產品給人過於生硬的距離感，而能夠予人親近感。
為了讓使用者簡便地使用，金庫與 Lit 的連結方式非常簡單，提款也能使用輕鬆貼上地址，將秘銀幣轉到其他個人冷熱錢包中。
Mithril (MITH) Exchnage Update — Mithril Listed on OEX
We are pleased to announce that Mithril is listed on OEX on 2018/10/12. Trading starts today.
OEX (www.oex.com) is one of the world’s famous digital asset trading platforms, belongs to OEX International PTE LTD., and its headquarter is based in Singapore. It provides global users with digital assets and derivatives trading services, such as Bitcoin and ETH. It is famous for its “high experience, high security, low threshold, and low formalities”. The industry has covered nearly 50 countries and regions in the world, supporting two trading areas of BTC and TC. It has won many awards such as the “Special Contribution Award in 2017–2018 Block Chain”.
OEX official website: https://oex.com/
秘銀很高興宣布我們於 2018/10/12 上架了 OEX 交易所，於今日開放交易。
OEX（www.oex.com）是全球著名的數位資產交易平臺之一，隸屬於 OEX International Limited.總部位於新加坡，為全球用戶提供比特幣、以太坊等數位資產及衍生交易服務，以「高體驗度、高安全性、低門檻、低手續費」等優勢聞名於業界，用戶遍佈全球近 50 個國家與地區，支持 BTC、TC 兩個交易區。曾榮膺「2017–2018 區塊鏈特別貢獻獎」等諸多獎項。