#10 - Treasury report May 2022
#10 - Treasury report May 2022
We share a breakdown of the current Merit Circle DAO treasury including any outstanding investments.
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 the DAO’s current financial status. We share a breakdown of the current Merit Circle DAO 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.
The Merit Circle DAO 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, the DAO 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 the Merit Circle DAO, 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 DAO 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 Merit Circle DAO’s 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 mainDAO’s wallet to be viewed in the wallet overview beneath. In that sense, we have not included the DAO’s 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 the DAO 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 the Merit Circle DAO.
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.