What is Merit Circle?
The Merit Circle token or MC is the driving force behind the entire Merit Circle project. The latter is a decentralized autonomous organization (DAO) centered around the GameFi space.
MC holders govern Merit Circle via the Merit Circle DAO. Thus, MC mainly serves as a governance token. Holders of the MC token can vote on proposals that can change the course of the Merit Circle project.
In addition to receiving governance rights, users can stake their MC tokens to earn crypto rewards.
Moreover, MC token holders receive exclusive access to blockchain gaming experiences and NFT drops.
Anyone can acquire Merit Circle tokens via major supported exchanges. You can find our list of recommended exchanges in the section above.
There is a max cap of 1,000,000,000 MC tokens which makes Merit Circle a deflationary cryptocurrency. As such, it can be expected that as the MC tokens become more scarce, the Merit Circle price will increase.
MC tokens have been distributed as follows:
- 29.4% - Rewards;
- 20% - Core Team & Advisors;
- 15% - DAO Treasury;
- 14.1% - Early Investors;
- 10% - LP Rewards;
- 7.5% - Public Distribution;
- 4% - Early Supporter Rewards.
Since MC is a cryptocurrency, it tends to fluctuate in price. In order to make an informed purchase decision, have a look at the MC price history and its trends on the graph above.
What are the Main Features of Merit Circle?
Merit Circle is a blockchain gaming DAO whose sole focus is to maximize the returns from Play-2-Earn (P2E) games.
One of the primary goals of the project is to create a blockchain gaming platform where players can turn their hobby into a source of income.
The Merit Circle project is divided into 4 mini projects:
- Investments (Merit Circle Investments) - a project whose main focus is investing in GameFi projects. In the words of Merit Circle itself, the goal of the investment verticle is to “maximize treasury value”;
- Gaming (Merit Circle Gaming) - P2E gaming project support;
- Development & Incubation (Merit Circle Studios) - a blockchain-based game development studio;
- Trading (Merit Circle Marketplace) - an NFT marketplace where users can buy, sell, and trade non-fungible tokens (NFTs).
Furthermore, Merit Circle offers an Axie Infitiy scholarship. At the time of writing, there are more than 500 players taking advantage of this scholarship.
Merit Circle also announced a bug bounty program. Anyone who reports vulnerabilities related to on-chain smart contracts will be rewarded based on the likelihood, severity, and impact of the issue. The maximum reward is fixed at 250,000 US Dollars.
As discussed in the What is Merit Circle section, 7.5% of the total supply was distributed via a public sale. It was called the Balancer Liquidity Bootstrapping Pool or BLBP where participants could exchange their ERC-20 tokens for MC.
One of the main advantages of this type of public sale is that it allowed the participants to determine the Merit Circle price.
The public sale resulted in over 100,000,000 US Dollars raised for the Merit Circle project.
Moreover, Merit Circle held a Seed Round during which it managed to raise 4,500,000 US Dollars for further development of the project.
Who Developed Merit Circle?
The Merit Circle crypto project was launched in 2021 under the name Axie 420 which was a scholarship project for Axie Infinity. It was later rebranded into Merit Circle. The main reason for this was to distinguish itself from Axie Infinity which was not the sole focus of the project anymore.
The majority of the founding team has remained anonymous except for Marco Van Den Heuvel who is currently taking up the CEO position at Merit Circle. He holds a bachelor’s degree in International Business & Languages from Arnhem Business School.
Some of its core partners and supporters are blockchain-based games Axie Infinity, CyBall, Hash Rush, Illuvium, Yield Guild, and Sipher, as well as crypto VCs Bitscale Capital, Dialectic, Mechanism Capital, and Digital Currency Group, among many others.
Furthermore, Merit Circle caught the eye of angel investors from major players in the crypto industry including Jihoz from Axie Infinity, Bobby from Coingecko, Danny, Gmoney, and Kieran from Illuvium, among many more.
If you're interested in this project, don't forget to have a look at the MC price on the graph above.
