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Key highlights:
- Merit Circle (MC) will be featured on Binance Launchpool
- Binance users will be able to stake BNB, BUSD and MC to earn additional MC tokens
- Merit Circle is a DAO that's focused on P2E (play-to-earn) games
Merit Circle (MC) is the latest project on Binance Launchpool
The Binance cryptocurrency exchange has announced that Merit Circle (MC) will be the next project featured on the Binance Launchpool platform. This will give Binance users the opportunity to earn MC tokens by staking BNB, BUSD or MC. The MC token farming program on Binance Launchpool will last for 60 days, and will begin on December 3 at 00:00 AM UTC. This is longer than the recently announced SANTOS Binance Launchpol program, which will be running for 30 days.
How to earn Merit Circle (MC) tokens on Binance Launchpool?
Merit Circle is a DAO (decentralized autonomous organization) that’s primarily focused on P2E (play-to-earn) games. Their ecosystem consists of the MainDAO, as well as different SubDAOs that are each focused on a specific game supported by Merit Circle.
For example, Merit Circle offers scholarships to Axie Infinity players, who can use Axies owned by the DAO to play the game and earn rewards through Axie Infinity’s P2E features. The players get to keep 70% of their earnings, while the remaining 30% goes to the Merit Circle DAO treasury. Merit Circle also plans to offer scholarships for players on the Vulcan Forge platform.
The MC token gives holders the ability to participate in Merit Circle DAO governance, and also represents a way for users to invest in the growth of the P2E gaming sector. MC is issued as an ERC-20 token on the Ethereum blockchain platform.
In total, 12.5 million MC tokens will be distributed through the Merit Circle launchpool program on Binance. This represents 4.26% of the total MC supply. 70% of the Launchpool allocation will be distributed to BNB stakers, while MC stakers will receive 20%. The remaining 10% is reserved for BUSD stakers.
The MC token is already trading on Binance, where it has trading pairs against USDT, BUSD and BTC. The token currently has a market capitalization of around $377 million, although the price did see a 15.8% decline in the last 24 hours.