#4 - Treasury report January 2022
#4 - Treasury report January 2022
We share a breakdown of the current Merit Circle DAO treasury including any outstanding investments.
With the coming of a new year, 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 December 2021.
Treasury status
In the past month the treasury grew from $119,794,385 in November to $124,968,491 at the end of December, a 4% increase from the previous month. The Merit Circle DAO has realized $1,440,353 in total income during the month December from token sales.
According to the mandate the proceeds from these token sales are handled as follows;
288,070 USDC sent back to the treasury
72,000 USDC to buy back wBTC+ETH
207,586 MC bought back from the market.
166,068 MC sent back to the treasury
41,518 MC to be burned
One must understand that part of the realized profits will be utilized to place buy order underneath the current MC market price to function as both floor price and effectively buy back MC tokens for the treasury and burning purposes.
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
Due to an unfortunate event in the Philippines affecting a large number of our scholars and their access to basic needs, we have been mainly focused on maintaining and taking care of our current scholar operations, instead of chasing the hypergrowth we had previously envisioned.
Nevertheless, we currently have 2,750 gamers playing Axie Infinity with the DAO’s assets earning SLP (1,06% increase from last month).
Vulcan Forged
Vulcan Forged is making great progress on all fronts after an unfortunate event in which a hacker got access to PYR tokens. The team is currently focused on finalizing the token swap and migrating all assets to players' new accounts. After this, it is expected for land staking and $LAVA earning flows to go live. All 100 purchased land plots are sewed and ready to be upgraded once staking goes live. After which they will be rented out to players again.
Nyan Heroes
Nyan Heroes has opened up their NFT staking pools where we embarked all of our Nyans on an adventure earning $CTNP.
Treasury overview
The Merit Circle DAO’s treasury balance as of the 31st of December is $124,968,491
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
We are very content to conclude 2021 in a strong position primed to make a thriving upcoming year. The treasury remains well filled while we have taken some interesting investment positions. We are confident about the future when analyzing the very first investments coming to fruition, and can’t wait to see what more we can achieve.
Notes
All of the balances and prices are based on calculations made on the 31st of December 2021.
All of the investments made after the 31st of December 2021 are not included in the treasury report unless specifically mentioned.