#2 - Treasury report December 2021
#2 - Treasury report December 2021
We share a breakdown of the current Merit Circle DAO treasury including any outstanding investments.
We are more than happy to present the first version of the treasury report. In this report, we would like to take a moment to show an exact overview of our current financial status. We share a breakdown of the current Merit Circle DAO treasury including any outstanding investments. This first version is based on the status of the treasury on the 30th of November.
Launching the Merit Circle (MC) token
We are a little over a month since we have officially launched the DAO’s governance token. This has been done through a Balancer Liquidity Bootstrapping pool on Copperlaunch raising a significant amount for the DAO. To summarize the event;
Total funds raised: $105,576,956
Total volume: $138,623,586.33
Total fees paid: $2,772,472
Tokens sold: 40,976,598 million MC (55% of the total 75 million MC tokens allocated)
All the raised capital and the unsold tokens have been sent to the DAO’s treasury. The event started with a $1 token price, and finalized with a token price of $3.16.
Gaming operations
When we look at the gaming operations of the Merit Circle DAO, we have mainly been focused on both preparing and upscaling our operations. With the majority of games yet to be released we will only cover the games that are currently actively playable by our scholars.
Axie Infinity
What started the entire Merit Circle journey remains the dominant game in our current gaming operations. There are currently 2,721 gamers playing Axie Infinity with the DAO’s assets earning SLP (81.4% growth since the end of October). We have been determined to increase the earnings of our current scholars by actively coaching them, hosting classes and improving their teams.
Vulcan Forged
The gaming studio Vulcan Forged has a variety of games, with Vulcan Verse as the dominant one. They have recently released their Cedalion (scholarship) program, meaning we can now actively onboard new gamers into the game. We have purchased 100 land plots, all sewed and filled within 2 weeks prepared to start earning $LAVA when the game allows us to.
Sipher, Nyan Heroes & Cyball
Three games that have recently dropped their set of NFTs are Sipher, Cyball and Nyan Heroes. Each game currently has no game live yet, but the DAO owns a wide variety of NFTs for each game that will be later utilized by our gamers to start earning. That said, we are actively preparing and researching the best in-game strategies.
Treasury overview
The Merit Circle DAO’s treasury balance as of the 30th of November is $120,398,610
Calculating the balance of our treasury we would like to understate that we prefer to only involve non-native assets. Meaning 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, and therefore 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. 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
After we concluded our Balancer Liquidity Bootstrapping Pool on Copperlaunch we were very fortunate to possess one of the largest treasuries in the industry when looking at non-native assets. After submitting a broad investment mandate, we are now actively using these assets to generate yield on multiple fronts. This paints a rather interesting vision for the future of the Merit Circle DAO with a long-lasting runway.
Notes
All of the balances and prices are based on calculations made on the 30th of November.
All of the investments made after the 30th of November are not included in the treasury report unless specifically mentioned.