🟡Token distribution

Attention: with MIP-28 and MIP-29 passing, all $MC tokens are migrated to the $BEAM token with a 1:100 conversion ratio. The only way to receive $BEAM tokens is by either acquiring or migrating $MC tokens. The token distribution below refers to $BEAM based on the initial maximum total supply of $MC tokens (1 billion tokens). Please note that the current maximum total supply has decreased since the token generation event and has been changing regularly.

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Merit Circle started in 2021 with the $MC token. Initially, the token distribution was set up in the manner as shown below. Over time the majority of the vesting schedule has been completed, and $MC has migrated to $BEAM. These changes are documented below.

Category	Percentage
Seed Sale	14.06% of the total token supply
Public Sale	4.10% of the total token supply
Binance Launchpool	1.25% of the total token supply
Community Incentives	30.19% of the total token supply
Team and Advisors	20.00% of the total token supply
DAO Treasury	16.40% of the total token supply
Staking Rewards	10.00% of the total token supply
Retroactive Rewards	4.00% of the total token supply

What has changed to the distribution?

• Team and Advisors have been split into Core Contributor Tokens (7.17B BEAM) - which has been cliffed for 4 years instead of 1 year cliff and 3 years vesting. (source)

• The Community Incentives have been burned for the majority (20B BEAM tokens) (source)

• Public sale: All have been distributed and are part of the circulating supply

• Staking rewards: All have been distributed and are part of the circulating supply

• Binance Launchpool: All have been distributed and are part of the circulating supply

• Retroactive rewards: All have been distributed and are part of the circulating supply

Current distribution Moreover, the majority of all remaining $MC tokens have been migrated to $BEAM - As displayed here, and here.

The initial 1 billion token supply has been reduced through the various burns that have occurred over the years. This can best be displayed in this community-built dashboard or in the $BEAM burn contract or the (old) $MC burn contract.

Category	Percentage
Circulating	79.23% of the total token supply
Vesting streams	9.29% of the total token supply
Core contributors	11.48% of the total token supply