MYST is an ERC-20 token and can be stored in any Ethereum wallet (MyEtherWallet, Metamask, Ledger, Trezor, etc).
A decentralised network is a system over which participants collaborate and share resources to achieve specific goals. TOR Network and torrents websites (The Pirate Bay, TorLock, etc) are peer to peer distributed networks that have developed alongside the internet.
MYST is a utility token that transfers value within Mysterium Network. Mysterium Network is a decentralised VPN. This means that our node network, just like our users are everyday people from around the world.
With the advent of cryptocurrencies (censorship-resistant and anonymous means of transacting), new forms of distributed networks have sprung up to share resources when it comes to storage, computing power and privacy. These networks are different as they are incentivised with a token that holds a store of value.
Migrating a token is simply to upgrade the smart contract of that token (its “standard”). In the case of Mysterium, we are migrating from the ERC-20 to the ERC-777 token standard. This is a 1:1 token migration so there will be no new tokens created.
We are working with HitBTC to automagically upgrade your tokens. We will update you soon.
Are you a MYST token holder? Then you’ve come to the right place. We’re gearing up for peer to peer payments on Ethereum, and that means – more focus on MYST.
On the the 31st of August Mysterium is going to upgrade it’s token to MYSTv2. You will not be manually able to upgrade.
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.