#11 - Treasury report June 2022
#11 - Treasury report June 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 31st of May 2022.
Treasury status
In the past month the treasury decreased from $115,318,533 in April to $107,350,041 at the end of May, a 6,9% decrease from the previous month.
During the month May, the Merit Circle DAO burned a total of 25,426,186 MC tokens (2,54% of the initial total supply). This consisted of 22,250,000 MC tokens out of the community incentives and retroactive wallet.
The remaining part, 3,176,186 MC tokens ($3,493,805) has been burned based on trading activity of the DAO. Additionally we added $1,500,000 USDC to the treasury out of these activities.
Treasury value per MC
With every month, more Merit Circle tokens are burned causing the relation between the total treasury value and the total token supply to change. This relationship can be expressed in a treasury value per MC, that will rise whenever the token supply decreases, or the treasury value increases. To illustrate;
In April 2022 the total token supply was 968.198.890 MC and the treasury value $115.318.533 leading to a treasury value per MC of $0,12
In May 2022 the total token supply was 942.772.704 MC and the treasury value $107.350.041 leading to a treasury value per MC of $0,11
The goal is to increase the treasury value and decrease the total token supply, causing an increase of the treasury value per MC.
Live treasury dashboard v1
We are more than excited to present the very first version of our live treasury dashboard. This provides a more clear overview of the treasury and allows investors to navigate through the made investments. As we proceed, more features will be added in another step towards more transparency and accountability.
Visit the dashboard here - treasury.meritcircle.io
This dashboard has been developed by DAO contributor CryptoCarl.
Gaming operations
As of recently, we have been focusing on the quality of our games and increasing on the overall community of gamers that we posses. With the release of our gaming platform not too far away, we are destined to rule the leaderboards of your favorite games. Therefore, increasing engagement has been very important. This is being done through playing, streaming and educating.
In Vulcan Verse, we have decided to give our players a 100% split of the $LAVA rewards. This way, players are more incentivized to play the game, something that’s necessary for the DAO to meet its daily quota of XP for the PYR staking rewards. Other than that, we have been onboarding more Fancy Bird and Cybloc gamers.
Treasury overview
The Merit Circle DAO’s treasury balance as of the 31st of May 2022 is $107,350,041
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
Through challenging times, the builders separate from those who are merely there in fortunate times. That said, we are extremely looking forward to the release of our NFT marketplace, Sphere. This could potentially be a serious financial catalyst for the Merit Circle DAO and $MC, something we will learn in upcoming treasury reports.
Notes
All of the balances and prices are based on calculations made on the the 31st of May 2022.
All of the investments made after the the 31st of May 2022 are not included in the treasury report unless specifically mentioned.