# Overview

Myosin.xyz is built on the native $MYO token, an [**ERC-20**](https://www.coindesk.com/tech/2021/02/09/what-is-the-erc-20-ethereum-token-standard/) [**utility token**](https://www.sofi.com/learn/content/what-is-a-utility-token/) that will initially exist primarily on the Polygon blockchain.

All members of Myosin.xyz will be required to hold a minimum of 100 $MYO, which will be sent to them upon admission to the DAO.

* Participation in the Myosin Discord server 
* Access to crypto bounties and projects 
* Ability to initiate and vote on governance proposals 
* Ability to access key documentation, templates, case studies, and tooling 
* Ability to participate in the broader and fast-growing Myosin ecosystem

While DAO members are required to hold $MYO to join Myosin, they can earn more $MYO proportionate to their participation in the DAO and their manner of participation (ex. Bounties, projects, DAO leadership roles). 

$MYO alone however, will not unlock all functionality, as all members are given and progressively build their Decentralized ID (DID), in the form of a Dynamic NFT, that is also a Soulbound Token (SBT). This DID functions as a [on-chain-reputation-score](https://whitepaper.myosin.xyz/dao/building-web3-growth-tools/on-chain-reputation-score "mention").\
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When $MYO is publicly launched on DEXes, members can eventually purchase additional tokens on the open market

In the earliest days, we plan on airdropping the required 100 $MYO to our earliest adopters and approved DAO members who have demonstrated a sufficient level of engagement and contribution.