The MC token is the heart of our DAO. Through various inventive ways, we’re giving utility and value to our token. By doing so, we’re ensuring that all contributors to the DAO, whether on a short or long timescale, are incentivized to acquire and retain the MC token. To best describe what holding our token unlocks, we’ve broken it down into the following categories:
Owning even a fraction of a MC token gives the holder a voice in the future of the DAO. This includes big or small decision making. While the initial contributors to the Merit Circle DAO began with an initial infrastructure and purpose for the organization, the journey ahead is open to change.
Similar to established organizations, the Merit Circle governance forum will be a place where governance members can share their opinion by broadcasting discussion threads or proposals to other members of the organization. Each tokenholder can vote to either accept or reject any proposal that proceeds to a vote. In an aim to decentralize our entire community of gamers, contributors and other stakeholders, the Merit Circle DAO has sought to obtain a widespread distribution of the MC token.
More information regarding the exact logistics of the DAO and its governance can be found on this page.
Since we’re focused on the gaming industry as a whole, by owning a piece of the MC token, players may get to participate in dozens of games and NFTs. In a sense, Merit Circle functions as a decentralized gaming index. This index can be defined as follows;
"A Decentralized Gaming Index (DGI) is an index that tracks the performance of decentralized gaming projects and assets. This can include NFTs (Non-Fungible Tokens), tokens, and other digital assets but also include equity positions. The goal of this index is to provide a comprehensive and reliable representation of the overall performance of the decentralized gaming sector, offering insights and information to investors, gamers, and other stakeholders."
Betting on Merit Circle is betting on the decentralized gaming industry to increase in value and size over time. Where we do invest strongly into the gaming industry, our treasury does not reflect the industry as a whole. The positions we currently hold are chosen deliberately.
The MC token (including MC/ETH Uni-v2 LP tokens) can be staked, which pursuant to the current staking smart contracts may provide stakers with increased voting power and eligibility to receive additional MC tokens (to further increase the voting power). The increase in voting power and eligibility to receive additional MC tokens depends on the duration that a staker locks up the MC tokens in the staking smart contracts, in addition to other factors. See more information on this page.
Merit Circle is at the forefront of the crypto gaming industry, partnering with multiple games. Through these partnerships or through its own ecosystem, the DAO may have the ability to offer NFT drops, exclusive in-game benefits and early access to these games among other exciting structures.
The MC token is a versatile token and other use-cases may appear in the future as our DAO and technology progresses.