Myco

Myco is an all-in-one platform that enables Digital Social Clubs to create digital media as a group and collectively own the economic rights associated with their actions.

Currently, collective ownership is hard to achieve. It is difficult to ensure that the right people and contributors receive the right rewards for their work. Incentives aren’t always well-aligned when it comes to collective ownership, and Myco seeks to solve this through a native points system and the use of LLC’s.

Furthermore, DAOs and community driven projects must use a combination of various tools and platforms to conduct essential tasks like fundraising, storing funds,developing governance, and socializing. Myco is building an all-in-one platform.

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An entity formed with Myco is referred to as a “Co”

Forming a Co: Every Co that is formed on Myco is a Nevada-based Series LLC. This ensures that no individual is individually liable for the actions of the community. Co’s are then governed via a native points system. These points are used as a mechanism to share profits and can be leveraged for other functions as well, including governance and voting rights. Co’s can assign roles, generate and store funds, and interact socially, all within the app. 

• Points: Points serve a variety of important functions within a Co. By default, points are used purely as a “measurement of profit rights over the activities of the Co.” However, these points can also be used for functions such as governance and voting. 
• Co Roles: Co Roles allow Co’s formed on Myco to assign members specific roles and to begin building out a governance structure. These roles are customizable, but every Co initially comes with a Creator role and a Member role.
• Co Vault: The Co Vault is where any funds generated via membership fees or product sales on the site are stored. The Vault can store Ethereum-based tokens or stable coins, and members are also able to distribute funds back to community members proportional to points.
• Co Conversations: Co Conversations is a social space on the site in which digital communities formed via Myco can interact. Myco writes that their first version of conversations will be “a blend between Discord, Twitter, and Reddit…”