Introducing the Merit Circle (MC) token
After the overwhelming response to our seed funding round, we feel it’s only right to shed some light on the core of the decentralized autonomous organization (DAO), the MC token. In this post, we’ll dive into the utility of the token and the token economics as they have initially been designed.
The oil to the engine
The MC token is the heart of the DAO. Through various inventive ways, we’re giving utility and value to our token. By doing so, we’re ensuring that all contributors to the DAO, whether on a short and long timescale, are incentivized to acquire and retain the MC token. To best describe what holding our token unlocks, we’ve broken it down into the following categories:
Governance
Owning even a single MC token gives the holder a voice about the future of the DAO, be it big or small decision making. While the core contributors to the Merit Circle DAO began with an initial infrastructure and purpose for the organization, the journey ahead is open to change.
Similar to established organizations, the Merit Circle governance forum will be a place where governance members can share their opinion by broadcasting proposals with the other members of the organization. Each token holder can then vote to either accept or reject any proposal. In an aim to satisfy our entire community of gamers, contributors and managers, we’ve ensured a widespread distribution of the MC token.
At inception, the governance structure will be implemented based on the battle-tested OpenZeppelin’s Governor contract. We will use Tally as a full-fledged application for on-chain governance, which consists of a voting dashboard, proposal wizard and real time analysis. Our governor contracts are compatible with Tally and implemented at the DAO launch. More information regarding the exact logistics of the DAO and its governance will be provided.
To stay up to date on our adventure, follow Merit Circle on these channels:
Twitter: https://twitter.com/MeritCircle_IO
Medium: https://medium.com/@meritcircle
Discord: https://discord.gg/meritcircle
Website: https://www.meritcircle.io
Gaming platform: https://gaming.meritcircle.io
Governance forum: https://gov.meritcircle.io/
Snapshot: https://vote.meritcircle.io/#/
Seller of the MC tokens is Merit Circle Limited. This content 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 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. The content speaks only as of the date indicated. Persons and entities from certain restricted jurisdictions are not entitled to participate in the sale, including US persons (including entities), or persons or entities (or entities controlled by persons) on sanctions list of the OFAC or any other US, UN, EU or other applicable sanctions list (“Prohibited Persons”).
