#10 - Treasury report May 2022
We share a breakdown of the current Merit Circle ecosystem treasury including any outstanding investments.
This report contains a breakdown of the Merit Circle ecosystem treasury as of the 30th of April (herein referred to as the "Treasury").
With the coming of a new month, we are glad to share the latest treasury report. In this report, we provide an exact overview of Merit Circle’s current financial status. We share a breakdown of the current treasury including any outstanding investments, buybacks and other financial activities.
This treasury report is based on the status of the treasury on the 30th of April 2022.
Treasury status
In the past month the treasury decreased from $126,234,076 in March to $115,318,533 at the end of April, a 8.06% decrease from the previous month.
Merit Circle has realized some profits from token or NFT sales in the month April 2022, which only got used for buybacks during May.
Gaming operations
Caused by the downfall of the entire GameFi market, Merit Circle can not report any significant revenue from its gaming operations for this month. However, that does not mean nothing has happened on this front. To quote from our DAO Progress update;
Given the unique position of Merit Circle, we are privileged to be among one of the earliest parties in the testing phase of many promising games. In return, we provide thorough feedback and assist in the development of these games. Right now we are testing Sipher, Sidus Heroes, Axes Metaverse and Hash Rush.
We can’t spill too much, but the dedicated team of gamers who are trying out these games are getting more excited by the day. There are many challenges to make these games not only rewarding, fun and challenging but, most importantly, sustainable. We hope that we can help bring various new games to the GameFi landscape.
We can’t stress enough that merely focusing on gaming operations as a gaming ecosystem is an unsustainable way of approaching the future. Therefore, we are determined to build products that are resilient to any market condition.
Treasury overview
The treasury balance as of the 30th of April 2022 is $115,318,533
When calculating our treasury’s balance, we only include non-native assets. This means we do not count the balance of MC tokens towards the total balance of our treasury since it might paint a diluted picture of the reality.
Since MC tokens will not be utilized for investment purposes, they will not be included in our balance sheet. Those interested can view the current balance in the main wallet to be viewed in the wallet overview beneath. In that sense, we have not included the AXS & SLP balance, since both are mainly used for breeding purposes marking them as working capital instead of additional treasury funds.
We will break down the treasury in four categories; cash, staking, NFTs and tokens.
Cash
Staking
NFTs
Tokens
Wallet overview
To operate completely transparent, we would like to provide a full list of wallet addresses Merit Circle currently utilizes.
Ethereum
Binance smart chain
Solana
Ronin
To conclude
With the conclusion of another month and a sharp decline of the market, the treasury has suffered a significant decrease. Nevertheless, we are fortunate to have plenty of runway to continue developing the products we have lined for many more years. On that note, we are actively chasing opportunities that could generate revenue streams for Merit Circle.
Notes
All of the balances and prices are based on calculations made on the the 30th of April 2022.
All of the investments made after the the 30th of April 2022 are not included in the treasury report unless specifically mentioned.
This report represents the Merit Circle ecosystem treasury as of end of April 2022, which includes assets held by the Merit Circle DAO, and DAO-adjacent entities, including the Merit Circle ecosystem purpose trust and Merit Circle Squared Limited held on trust for a purpose (jointly herein referred to as “DAO assets”, “DAO treasury” or similar). The assets held by DAO-adjacent entities are not controlled by the DAO or held on behalf of it. The DAO can however exert certain checks and balances on the DAO-adjacent entities and the entities have a mission and purpose that is aligned with the DAO's, including to accelerate the growth and development of the Merit Circle ecosystem. This report has been prepared based upon information from sources believed to be reliable, including market prices, data and other information from such sources, but such information has not independently been verified and this communication makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.
This report is provided for informational purposes only, and should not be relied upon as legal, business, investment, financial or tax advice. You should consult your own advisers as to those matters. References to any digital assets and the use of finance-related terminology are for illustrative purposes only, and do not constitute any recommendation for any action or an offer to provide investment, financial or other advisory services. This content is not directed at nor intended for use by the Merit Circle community or others, and may not under any circumstances be relied upon when making a decision to purchase any digital asset referenced herein. There can be no assurance that the investments mentioned herein will be profitable. The digital assets referenced in this report currently face an uncertain regulatory landscape in several jurisdictions. The legal and regulatory risks inherent in referenced digital assets are not the subject of this content.
Charts and graphs provided in this report are for informational purposes only and should not be relied upon when making any decision. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others