Myria Whitepaper

DISCLAIMER

The information presented in this whitepaper is subject to change without noticeand should not be construed as a commitment, promise, or guarantee by Myria
or any other individual or organization mentioned in this litepaper relating to thefuture availability of services, or the future performance or value of any tokens.

Although forward-looking statements contained in this presentation are based upon
what management of the Company believes are reasonable assumptions, there
can be no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated insuch statements.

Contents
MYRIA OVERVIEW

1Myria Infrastructure and Developer Tools
Myria Platform and User Tools
Myria Studios
MYRIA Token

1122

A PROBLEM WORTH SOLVING

3The Gaming Landscape
Ethereum scalability
Challenges for developers
NFT Illiquidity

3345

MYRIA’S SOLUTION

6Myria Infrastructure
Myria L2 - A ZK-Rollup Layer Two Scaling Solution
Developer APIs
Platform SDKs
Universal Order Book
Compliance
Platform
Myria Wallet
Myria Marketplace

678999101010FEES ON MYRIA

12MYRIA NODES12MYRIA TOKEN

13Overview
Token Utility
Tokenomics
Token Supply & Allocation

131314
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LEGAL DISCLAIMERS

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Myria Overview
Myria is an Ethereum Layer 2 (“L2”) scaling solution, purpose-built to scale NFTs,
blockchain gaming and more. Myria’s scaling solution, built in partnership withStarkWare, offers instant trade confirmation, 0 gas fees when minting and trading
NFTs without compromising the security of users’ assets.

Myria’s L2, developed using StarkWare’s STARK prover, utilizes Zero-Knowledge
Rollup (ZK-Rollup) technology to bundle large numbers of transfers into a single
transaction to facilitate up to 9,000 transactions per section (TPS).

Since its launch in August 2022, over 250 partners have joined Myria and minted
more than 500,000 NFTs on the platform.

MYRIA INFRASTRUCTURE AND DEVELOPER TOOLS

Myria is developing infrastructure to power the next generation of blockchain
gaming.

Myria L2 utilizes StarkWare’s prover and rollup zero-knowledge technology toaggregate thousands of L2 transactions into single Ethereum transactions. Theresults are dramatically increased throughput and lower transaction costs whichare prerequisites for seamless token experiences.

Myria’s Developer Solutions are an API-first abstraction layer consisting ofblockchain-level, and game-level SDKs.

MYRIA PLATFORM AND USER TOOLS

Myria is creating an all-in-one user platform including a Myria L2 wallet and an NFT
marketplace to enable third party gaming studios, NFT communities, and developers
to easily develop and play blockchain-powered games, DApps, and experiences.

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MYRIA STUDIOS

Myria Studios is a player-focused gaming studio centered around AAA-quality
games that drives true ownership and rewards. Myria Studios is leveraging Myria’s
core stack to create a leading blockchain gaming hub.

MYRIA TOKENMYRIA is an ERC-20 utility token. The token serves as the basis for transactions
on the Myria L2 scaling protocol. MYRIA will be distributed to selected gamedeveloping partners, node operators, and other participants in the ecosystem,
creating a circular economy between users to accelerate ecosystem growth.

2A problem worth solving
THE GAMING LANDSCAPE

The global gaming industry is currently estimated to be worth US$200 billion
and growing rapidly at 12% per year1. Despite some early pushback from gamers,
blockchain titles will be the next evolution of top-tier games driven by a number offactors.

On the user side, games built on the blockchain provide users with real ownershipof their underlying assets and the ability to realize the value of any in-game assets
through secondary markets.

For studios, there is a greater ability to monetize their games and allow communities
to contribute to the often high upfront development costs through NFT drops andtoken sales. In the future, there may also be additional in-game mechanics thatcan be unlocked via the blockchain with several innovative games such as thezkSNARK-based MMO Dark Forest providing a compelling proof of concept.

ETHEREUM SCALABILITY

The original pioneer in the first blockchain 2.0 movement back in 2014, Ethereum
remains by a significant margin the dominant network for both NFTs and DeFi. This
first-mover advantage has allowed Ethereum to develop one of the largest, mostdecentralized and most secure networks, supported by a vast array of missioncritical tooling including user-friendly wallets and NFT marketplaces, an immenseuser base, and high liquidity. However, due to ever-increasing demand, the network oflate has been plagued by network congestion, low throughput and slow transaction
speeds, making Ethereum at an L1 level almost completely untenable for gaming
and other high-velocity use cases.

1NewZoo, ‘Global Games Market Report 2022’

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Despite the Merge, Ethereum is far from being the finished article as envisioned byVitalik Buterin, the founder of Ethereum. Optimistic rollups have long withdrawaltimes, which leads to a poor user experience, and sharding scalability solutions areyears down the roadmap.

With new L1s delivering high transaction capabilities right off the bat — but stilllacking the enviable level of security Ethereum boasts — the world’s leading Web3
network needs to deliver speed and cost-efficiencies for dApp developers andusers now.

With the NFT and gaming markets growing at pace, even during crypto’s bearmarket, Ethereum needs to be ready to handle sudden spikes in demand — which,in the world of crypto, could happen at any time — without clogging up and sending
gas fees into orbit. The only feasible way to do this is through L2s running ZKrollups like StarkEx, which means that L2s will be around for a long time to come.

CHALLENGES FOR DEVELOPERS

New blockchain gaming and NFT application developers are often faced with a confluenceof aggravating factors that work to make the learning curve exceedingly steep.

First of all, the interdisciplinary nature of blockchain requires developers to have at leastan intermediate-level grasp on an extremely wide range of usually unrelated computerscience fields. Developers are expected to understand advanced cryptography, largescale decentralized networking, complex quantitative financial models, and more.

This challenge is compounded by the rate developers are required to learn new
programming languages, smart contract standards, and blockchain network design,in such a rapidly changing space. This results in developers spending an excessive
portion of their development time building the backend rather than focusing on what
they set out to do: build innovative and unique applications for their users.

The lack of access to pre-built infrastructure with simple APIs and platform-specific4

SDKs has created a tremendous barrier to entry for new projects, a problem that Myria
seeks to solve.

NFT ILLIQUIDITY

The foundational concept of all NFT marketplaces is the use of order books. Theterm order book refers to an electronic list of buy and sell orders for a specific NFT
organized by price level. An order book lists the number of items being bid on oroffered at each price point, or market depth. Current NFT marketplaces operatewith their own order book. This means an NFT listing only appears on the originating
marketplace, which limits the liquidity of the particular NFT as it is only offered tothe buyers or sellers of that marketplace. This issue becomes increasingly apparent
when specific games build in-game marketplaces for a better gamer experience yetwill have to sacrifice access to the maker orders necessary for instant purchases
or price discovery due to its standalone order book.

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Myria’s Solution
MYRIA INFRASTRUCTURE

Diagram 1: Myria L2 Protocol Architecture

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MYRIA L2 - A ZK-ROLLUP LAYER TWO SCALING SOLUTIONMyria L2 is a layer two (L2) scaling solution, purpose-built for games and other
NFT use cases on the Ethereum network. Myria is an advocate for the security anddecentralization of the Ethereum network and believes gaming developers should notneed to forego these benefits to onboard onto the blockchain.

By building an Ethereum-anchored L2 rather than a loosely coupled or even entirely
independent sidechain, Myria can comfortably meet the performance requirements ofsome of the most demanding use cases on the market without sacrificing the desireof end-users to continue leveraging Ethereum’s battle-tested consensus protocol. The
oft-mentioned tradeoff between genuine usability and fully decentralized security is afalse one - Myria L2 offers both.

That harmony between scalability and security is moot, however, if developers areunable to leverage it. To that effect, Myria’s suite of developer tools, a diverse array ofApplication Programming Interfaces (APIs), Software Development Kits (SDKs), and aDomain Specific Language (DSL), aims to abstract away the complexity of writing andinteracting with zero-knowledge compatible smart contracts without curtailing creatoringenuity.

Simply put, this means any transaction, from minting an NFT or launching a newcollection to transferring or exchanging existing tokens requires no direct smart
contract or network knowledge on the part of the developer. Any developer, who is able
to connect to a REST API, knows how to produce, manage, and interact with tokenization
projects on Myria L2.

Central to the goal of accomplishing the above without restricting use-case flexibility,
as stated, will be Myria’s tokenization rules engine and Domain Specific Language(DSL). Existing smart contract development tools restrict box developers from making
key decisions about the nature of the contracts they deploy on behalf of the creatorsthemselves. Myria’s rules engine and DSL will grant developers the ability to customize
low-level aspects of their assets without complicating the process for more novice users.

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ZK-ROLLUP SCALINGENGINEAt its core, Myria combines the cutting-edge ZK-rollup scaling
solution by StarkWare with NFT-specific proof logic to create
one of the most progressive NFT trading protocols. By batching
hundreds of transactions into a single zero-knowledge proof
known as ZK-STARK (zero-knowledge scalable transparentarguments of knowledge), it enforces the integrity and privacyof computations on blockchains, using novel cryptographic
proofs and modern algebra. ZK-STARKs allow blockchains tomove computations to a single off-chain STARK prover andthen verify the integrity of those computations using an onchain STARK verifier.

DEVELOPER APIS

Myria is building a variety of developer and administrative tools to shield developers fromprotocol-level complexity and ultimately make the process of integrating blockchain
frictionless. The tools which exist in the market today are either difficult to use, support
a far-too limited set of functionality for any serious use cases, or both.

Critically, those tools of today ignore the fact that third-party developers, though they
may not necessarily want to engage at a low level with smart contract code, neverthelesswant the smart contracts they do use to support arbitrarily complex use cases.

To that end, Myria will develop a rules engine specifically tailored for the potential use
cases which interested developers may desire. This rules engine will support a varietyof customization in regards to supply (e.g. existence of a hard cap, or adjusting cap
based on other on-chain actions, etc.), transfer logic (e.g. applicable royalty on transfer,on-chain actions prerequisite to a transfer, etc.), metadata (on-chain implications ofmetadata, combination or transformation of metadata of different NFTs, etc.), and more.
The rules engine will be responsible for combining the developer’s requirements in a
succinct and coherent way, then translating those rule requirements into on-chain
contracts using Cairo.

8PLATFORM SDKS

To allow developers to easily build on blockchain, our high-level Myria SDK will include
plugins and tools to support a variety of engines (Unity, Unreal, HTML5). Myria’s SDK
offers developers an intuitive portal to seamlessly integrate with the Myria gaming
ecosystem, including character and item interoperability, login/authentication,
inventory management, as well as a number of other services to provide a deep andrich gaming and social experience.

Additionally, partners opting to leverage the power of the Myria chain whilst maintaining
an independent gaming and economic ecosystem can choose to integrate our highperformance, closer to the metal MyriaCore SDK (Javascript, Python, C#, C++) which will
empower our partners to design and implement their own on-chain asset structure andbehavior without having to be concerned with creating and deploying smart contracts.

UNIVERSAL ORDER BOOK

Beyond being an NFT scaling solution, Myria looks to solve the order book fragmentation
problem by introducing universal order books. Myria’s universal order books will alloworders created on one marketplace to be filled at another. This not only solves theliquidity and price discoverability issues of NFT marketplaces but further empowers
those who utilize Myria’s white label NFT marketplace solutions to continue the pursuitof customized user experiences without limiting the visibility of their collections.

COMPLIANCE

Myria recognizes the importance of regulatory compliance when working with NFTs,
such as global Anti-Money Laundering (AML) and KYC legislations and the protectionof consumer data. This has become an increasingly important factor for businesses
and creators when choosing the right solution. Myria’s platform and the solutions
provided will be fully compliant for the trusted partners so they can operate their NFTprojects with ease.

9PLATFORM

MYRIA WALLET

The Myria wallet aims to solve the problem which has emerged for many scaling
solutions in the last few years – the more impressive the underlying technology, themore onerous the user experience seems to become.

The Myria wallet attempts to address this by providing a seamless in-browser wallet,
enabling users to have custody over and manage their digital assets including tokens
and NFTs. The wallet will allow players to easily buy, sell, and store tokens, as well asinteract with Myria’s Marketplace and gaming ecosystem.

Crucially, anyone who uses Metamask will intuitively be able to leverage the Myriawallet. Although there is a different cryptographic scheme and private key requiredfor Myria L2 interactions, that complexity will be hidden from the user. Any blockchainthat exposes an Ethereum-compatible JSON RPC API, including custom and private
blockchains, will be compatible with the Myria wallet.

NFT MARKETPLACE

Myria’s NFT marketplace allows users to purchase NFTs produced by Myria Studiosand other developers directly from the Myria listing, as well as those from othermarketplaces connected through Myria’s universal order book.

In order to combat the issue of fake NFTs that plague other NFT marketplaces, wehave developed a strict project verification protocol to ensure the integrity of ourmarketplace.

10Diagram 2: Myria Ecosystem

11Fees on Myria
Myria has various revenue streams where users and creators will exchange theMYRIA token.

PROTOCOL FEE

Myria will collect a fee from third parties licensed to use the Myria protocol, for all trades
executed.
MARKETPLACE FEE

Successful sales of NFT assets on Myria’s NFT marketplace will attract a fee.
PRIMARY SALES FEE

Myria will collect a fee from all primary sales minted using Myria protocol.

A percentage of the entire ecosystem revenue (transaction fees from the NFT
marketplace, store fees, protocol fees, etc.) will circulate into MYRIA token staking inthe future.

Myria Nodes
Myria nodes underpin Myria’s ecosystem. Each node contributes to the ecosystem’s
growth by providing functions necessary to run a decentralized and secure L2 network.
There will only ever be 40,000 Myria nodes. Myria node operators will be contributing tothe growth of the Myria ecosystem. Those who operate the node to the daily requirement
will be rewarded with daily MYRIA distribution.

Myria node operators contribute to the scaling of future digital asset ownership. Nodes
will be used for various activities, including:••••

Initial network tests
Decentralized data storage
Oracles, which are data feeds that provide smart contracts with off-chain data
Governance

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MYRIA TokenOVERVIEWMYRIA is an ERC-20 utility token. The token serves as the basis for transactions onthe Myria L2 scaling protocol. MYRIA will be distributed to selected game-developing
partners, node operators, and other participants in the ecosystem, creating a circular
economy between users to accelerate ecosystem growth.

We strongly believe that community ownership of tokens helps align incentives ofstakeholders within the Myria ecosystem, including developers, node operators,content creators, and others. Token holders become incentivized to support the growthof the gaming ecosystem and thus the value of the token.

TOKEN UTILITY

The MYRIA token has the following utility:

PROTOCOL FEEA proportion of protocol fees on every Myria transaction will
be paid in MYRIA tokens.

MYRIA NODE PURCHASE

Myria Nodes can only be purchased using MYRIA tokens.

STAKING

Staking rewards will be introduced upon the implementationof protocol fees. A dedicated staking reward pool will allow
those who meet the staking requirements of MYRIA tokens toreceive rewards from this pool.

GOVERNANCE

As a holder of MYRIA, you hold the key to deciding thefuture direction of Myria. Governance will be introduced andMYRIA token holders will be able to vote on ecosystem fundallocation, future development, and the strategic direction ofthe ecosystem.

13EXCLUSIVE NFT
PURCHASE

The MYRIA token will be utilized for purchasing exclusive NFT
collections under Myria Studios

TOKENOMICSTOKEN SUPPLY &ALLOCATION

The total supply is 50 billion MYRIA tokens.

Note: This is the planned tokenomics and may be subject to change.

Due to release schedules and locks, the token unlock schedule differs based on thedifferent allocation types:
PURPOSETOKEN SUPPLY SCHEDULETGE (TokenGeneration Event)and Liquidity
Provision

Immediately Unlocked

Node emissions

Distributed daily based on a halving schedule. Halving
occurs every 2 years
The protocol will distribute approximately 12 million
MYRIA per day until the scheduled halving. The firsthalving will happen in year three, which will decrease
the daily distribution to 6 million MYRIA.

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PURPOSE

TOKEN SUPPLY SCHEDULE

Ecosystem

13% unlocked immediately, remainder allocation isunlocked over 36 months

ProjectDevelopment

6 months cliff, linearly unlocked over 48 months

Strategic reserve

Immediately Unlocked

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Legal disclaimers
LEGAL NOTICEThis litepaper shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of Tokens (as defined herein) to any U.S. Person (as definedbelow) or in the United States or in any other jurisdiction in which such offer, solicitation,or sale would be unlawful prior to registration or qualification under the laws of anysuch jurisdiction.

THE TOKENS HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE
OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT ORBENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIESACT)16