Mithril is a decentralized social network ecosystem that rewards the contributions of content creators through a "Social Mining" process - an incentive structure that allows content publishers and consumers to earn MITH tokens based on activity within the ecosystem.
Through Social Mining, publishers are able to capture value generated by the content they create and users can be rewarded based on social activity and interaction with content they consume.
The ecosystem currently consists of three core components:
MITH is an ERC-20 utility token built on top of the Ethereum blockchain that has three core use cases:
MITH is a utility token to be earned (or "mined") and used as a form of payment within the MITH ecosystem
|Token Sale Date||2/21/2018|
|Private Sale Allocation||30% of Total Supply|
|Token Sale Price||5,000 MITH / 1 ETH|
|Amount Raised / Target Amount||60,000 ETH / 60,000 ETH|
|Current Circulating Supply||38.7%|
Mithril uses Trezor wallets to manage token unlocking. These Trezor wallets are multi-sig wallets and are jointly controlled by Mithril's C-level management.
Mithril has generated substantial user traction for both the Lit application as well as the Mithril Vault through organic growth.
The Lit social media app has gained significant user traction since the launch date in June 2018:
The Mithril Vault software wallet was launched 6/30/2018 and currently has ~3,600 users and 1,000 DAUs directly sourced via organic growth channels.
Mithril has made significant progress in building out the technical components of both the Lit dApp and the Mithril Vault. While the Github repositories are private, the details below provide insights into the number of commits, contributors, achieved milestones and progress of technical development.
Currently, Mithril has 5 key private repositories:
Vault API server which includes blockchain logic and vault features (with Flask framework, web3py, geth)
Vault web app frontend
Lit app backend API server (with Flask framework)
Config files for vault-server
The dashboard server used to observe our vault data in realtime
Mithril has furthermore several public repositories:
Mithril has a global community with a primary concentration in Asia (Taiwan, Korea, China). Mithril's go to market strategy is designed to encourage users to bring the social circles from other networks into the Mithril ecosystem, which will allow them to mine MITH for sharing and consuming content. Core to this strategy is leveraging strategic partnerships with other social platforms that have large user bases who are interested in compensation for their social efforts. The initial step in this user acquisition strategy is a partnership with M17 Entertainment, a global media company with more than 40MM users and a large network of content creators. As part of the strategic partnership, M17 accepts payments using MITH and sends payments to content creators using MITH. Additionally, Mithril will continue to grow the community through grassroots initiatives including meetups, conferences and social media engagement.
Mithril has several sets of key competitors across social media platforms, social media focused coins and
traditional social media companies.
For the purpose of this comparison, we have focused exclusively on digital asset competitors.
|Kin||KIN||$48.4MM||Payment token for online activities such as instant messaging, social media, & tipping within the Kik Ecosystem.|
|SocialX||SOCX||N/A||Decentralized social media platform allowing users to publish content & receive SOCX token rewards.|
|Steem||STEEM||$266MM||Next-generation blockchain that runs real-time applications and a decentralized, rewards-based social network.|
|InvestFeed||IFT||$3.2MM||Social cryptocurrency investment project.|
|Reddcoin||RDD||$103MM||Social network tipping economy.|
Mithril has active social communities where the team can share updates, engage with users and address concerns. Notably, Mithril posts weekly updates on Medium specific to commercial, product and technology progress to keep users constantly informed on the status of the project and ability to execute against disclosed milestones.
Reddit: r/MithrilToken | 1,900 subscribers
Twitter: @MithrilOfficial | 19,200 followers
Medium: @MithrilToken | 649 followers
Telegram: https://t.me/MithrilChat | 12,831 followers
Facebook: @MithrilOfficial | 4,500 followers
|Date||Private Sale 1||Team||Advisors||Community||Social Mining||Circulating Supply||Circulating Supply %||Incremental Supply %|
(*) Please note that 5% has been allocated to the Token Treasury, which will be released at a yet-to-be determined future date, hence the total of 95%