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 single MC token gives the holder a voice in the future of the DAO, be it big or small decision making. While the core 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 proposals with other members of the organization. Each token holder can then vote to either accept or reject any proposal. In an aim to satisfy our entire community of gamers, contributors and managers, we’ve ensured a widespread distribution of the MC token. An example of a proposal could be to vote on whether the mainDAO will use treasury funds to ensure a soft floor price for the MC token through either a buy-back mechanism or burns.
At inception, the governance structure will be implemented based on the battle-tested OpenZeppelin’s Governor contract. We will use Tally as a full-fledged application for on-chain governance, which consists of a voting dashboard, a proposal wizard and real-time analysis. Our governor contracts are compatible with Tally and implemented at the DAO launch.
More information regarding the exact logistics of the DAO and its governance can be found on this page.
Merit Circle is a DAO that consists of many different subDAOs. Each subDAO represents our operations in a specific game.
At this point, we have several subDAOs for different ventures. The return this is generating for our DAO, contributes to the mainDAO. Then, the mainDAO will have the ability to branch into new games, acquire more NFTs, embrace yield-farming strategies and other ways of generating profit.
Since we’re focused on the gaming industry as a whole, by owning a piece of the MC token, players get to participate in dozens of games and precious NFTs. Betting on Merit Circle is betting on the decentralized gaming industry to increase in value and size over time. The more profit each subDAO generates, the more our mainDAO can do.
After deploying our MC token into the blockchain airwaves, we’ll give you the chance to stake your tokens. We have set aside a substantial amount of tokens in rewards for staking, but this is just a fraction of the rewards you can receive by staking the MC token.
Merit Circle is at the forefront of the play-to-earn industry, partnering with multiple games. Through these partnerships, we’ll have the ability to offer exclusive in-game rewards and early access to these games among other exciting structures. Besides that, we aim to provide our token holders with early access to NFT drops from our partners, but also from Merit Circle itself.
Please note that the breakdown of the token mentioned above is based on the initial set-up of our DAO. There will most likely be more uses in future as our DAO progresses and branches into other areas.