#2 - Treasury report December 2021
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 November (herein referred to as the "Treasury").
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 ecosystem 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. 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 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 Merit Circle, 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 Merit Circle’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 Merit Circle 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 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. 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
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. This paints a rather interesting vision for the future of Merit Circle 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.
This report represents the Merit Circle ecosystem treasury as of end of November, 2021, 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