Mithril aims to disrupt our perceptions on social media- to decentralize and reward social media content creators fairly and openly.
Mithril does this through “social mining”. Unlike other social media platforms such as Facebook and Instagram, Mithril rewards users for their content according to the popularity it attracts.
Key Features Of Mithril
Though their mobile app- Piepie (available on iOS and Andriod), users can post 6 second videos and share it with over 154,000 (and growing!) other users globally who can follow, like or comment on them.
Users who post on Piepie will be rewarded with Mithril’s (MITH) tokens.
Mithril recently expanded their ecosystem by partnering with Yeemos (available on iOS and Andriod). Yeemos is an app where users can post photographs. Other users can then interact with the posts by doodling, posting stickers, emojis, reactions or comments on them.
Yeemos is expected to support the MITH reward system soon.
Users can link their Piepie (and eventually Yeemos) accounts to the Mithril Vault. The Mithril Vault has several functions:
Funds: Users can withdraw and/or deposit their MITH, Binance (BNB) and Ethereum (ETH) tokens. Support for more tokens is expected.
Staking: Users can “stake” some/all of their MITH for a minimum of 14 days. Staking increases the amount of MITH earned when using Piepie.
Shift: Users can “shift” their MITH to ETH and vice versa.
MITH tokens are currently traded on most major exchanges including Binance, Bitfinex, Bithumb, Lbank, OKEx and HitBT etc.
Uses for MITH Token
The MITH token can be used as follows:
Staking: As mentioned above, MITH can be staked in the Mithril Vault to increase the MITH earned from social mining on Piepie.
Shifting: Also as mentioned above, the MITH Vault allows users to shift their MITH into ETH.
Payments: MITH is accepted as a form of payment in the Mithril Merchant Network. For now this includes some Taiwanese cafes and merchants. Globally, MITH can be used to pay for other products/services relating to dating apps, paid content and other applications.
The Mithril roadmap
Mithril has been hard at work meeting its milestones, and in some cases ahead of schedule.
Below is Mithril’s roadmap for Q4 2018 to Q3 2019:
- Mithril Wallet launch (Completed 1Q ahead in Q3 2018)
- Vault referral program (Completed)
- m17 and Max exchange collaboration for payment with Mithril Vault
- Fiat deposit launching
- Mithril official website revamping
- Vault support BTC deposit/shift
- Vault support USDT deposit/shift
- Vault staking mining development
- Mithril Shift launch (Completed 2Q ahead in Q3 2018)
- Vault iOS/Android development
- 10+ vault payment partners
- KYC process
- Scan payment feature
- Other crypto staking feature
- 15+ vault payment partners
- Ad network development
- Vault payment mining development
- Mithril Vault launch (Completed 2Q ahead in Q3 2018)
- Ad network alpha
- Vault merchant network onboarding
- Mithril Blockchain Alpha and Beta launch (No longer being developed)
- Ad network beta
Binance research report: https://info.binance.com/en/research/MITH-2018-11-15-46831.html