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Merit Circle is a community-driven DAO with thousands of stakeholders, where its members have active participation in the future of the project and its native token, $MC.
Therefore, Merit Circle’s primary way of ensuring community participation is via the “Merit Circle Improvement Proposals” or MIP. These are proposals that aim to develop and ensure the sustainability of the $MC token.
🌟 We offer the most competitive in-game assets to our players
🎓 We improve the performance of our players
👥 We have a vibrant community
🎯 We will be hosting meta-games on top of the existing games
💰 We will be granting additional rewards to top performing players
— Merit Circle (@MeritCircle_IO) December 26, 2021
Merit Circle MIP-6 Strategy
The Merit Circle DAO has made various investments in the Play-to-Earn business and other areas in the blockchain community. The platform noted that a healthy and sustainable vision for the future is critical when acting as an index fund for the metaverse and the Play-to-Earn sector. Therefore, Merit Circle remarked that the best way to ensure the platform’s future is to follow a workable mandate.
In terms of MIP-6, the current strategy merely allows the DAO to de-risk any investments to safeguard and sustain the DAO’s treasury. This allows for constant investment accessibility.
Also, the returns on most Merit Circle’s transactions are significantly more significant than the amount spent. However, this leaves a significant portion of the revenues unused.
MIP-7 Proposal
Following the success of the MIP6, Merit Circle announced voting for its latest proposal, the MIP7. This proposal aims to lay a solid foundation for Merit Circle’s and the MC token’s future.
With this proposal, the platform advocated better use of its earnings. It proposed deploying the revenues from realized gains on investments throughout the DAO’s many assets in an organized manner.
This entails spending one part to re-fill the treasury with USDC. Furthermore, another part of purchasing MC tokens for the treasury, the final component burning a portion of the MC tokens purchased back.
As a result, a recent tweet shared by Merit Circle showed that the community accepted the MIP-7. Here’s the new conclusion after the DAO takes profit on investment:
With the acceptance of MIP-7, after the DAO takes profit on an investment;
🔸 20% in USDC goes to the treasury;
🔸 5% to purchase BTC & ETH
🔸 60% to create price support
🔸15% of the proceeds will be used to buy back MC and send them to 0x000000 (or in other words; burn).— Merit Circle (@MeritCircle_IO) January 2, 2022
More About Merit Circle
This platform is a decentralized autonomous organization (DAO) that focuses on the play-to-earn ecosystem. In other words, Merit Circle’s goal is to usher in a new era of play-to-earn games rather than regarding them as a simple pastime.
Also, the project was officially launched on November 4th, 2021, but it has been in the works since July 2021. Also, it ranks as one of the top crypto game guilds.
Finally, its native token, $MC, is currently trading at $4.99 with a 24-hour trading volume of $16.5 million. Also, Merit Circle has been down 6% in the last 24 hours. Furthermore, it has a circulating supply of 42,5 million tokens and a max. supply of 1 billion.