Difference between revisions of "Merit Circle (MC)"

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(Created page with " ==Basics== *Based in: *Started in / Announced on: *Testnet release: *Mainnet release: ==History== ==Audits & Exploits== *Bug bounty program can be found [insert here]. ===Bugs/Exploits=== ==Governance== ===Admin Keys=== ===DAO=== ===Treasury=== * From this [https://twitter.com/ReflexivityRes/status/1587449910302978049 thread] (1-11-2022): ''"The DAO has one of the best treasury management records in all of the digital asset space. Merit Circle s...")
 
 
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==Audits & Exploits==
==Audits & Exploits==
*[[bug bounty|Bug bounty]] program can be found [insert here].
*[[bug bounty|Bug bounty]] program can be found [insert here].
*Scored [https://www.daometer.xyz/review/11 58%] on [[DAOmeter]] (21-2-2023), had no category scoring perfect. Scored super low on Voting (no staking, no custom tooling and no delegates), very low on Treasury (multi-sig, no custom tooling, no dedicated team) and Proposal (not stored on-chain) and low on Community (manual payroll, no clear on and offboarding and no working groups) and Security (multi-sig) and a little low on Documentation (no code for governance public).
===Bugs/Exploits===
===Bugs/Exploits===
==Governance==
==Governance==
Line 72: Line 73:
*Full team can be found [here].
*Full team can be found [here].
===Funding===
===Funding===
* [[Mechanism Capital]] [https://www.mechanism.capital/investments/ lists] them in their portfolio as of 15-5-2023.
===Partners===
===Partners===
==(:==
==(:==

Latest revision as of 14:44, 15 May 2023

Basics

  • Based in:
  • Started in / Announced on:
  • Testnet release:
  • Mainnet release:

History

Audits & Exploits

  • Bug bounty program can be found [insert here].
  • Scored 58% on DAOmeter (21-2-2023), had no category scoring perfect. Scored super low on Voting (no staking, no custom tooling and no delegates), very low on Treasury (multi-sig, no custom tooling, no dedicated team) and Proposal (not stored on-chain) and low on Community (manual payroll, no clear on and offboarding and no working groups) and Security (multi-sig) and a little low on Documentation (no code for governance public).

Bugs/Exploits

Governance

Admin Keys

DAO

Treasury

"The DAO has one of the best treasury management records in all of the digital asset space. Merit Circle sits at #7 in treasury size. Also worth noting Merit Circle doesn’t include native tokens in its treasury."

Token

Launch

Token Allocation

  • From this thread (1-11-2022): gave 20% to team and advisors, 14.1% to early investors and the rest to the treasury and incentives.

Utility

"To date, they have burned 129,171,890 MC tokens totaling roughly $90mm. At the same time, they have bought back 4,791,664 tokens with their treasury on the open market. MC token buybacks occur from profit generated by seed investments taken by the DAO treasury. Besides the tokens on the open market, they approx. bought back 20M MC tokens from seed investors. Combined, this has taken about 15.5% of total expected token supply out of circulation.

This week they will be doing a huge 200mm token burn, which will change that 15.5% figure to roughly 20% of total supply being taken out through buybacks/token burns."

Other Details

Coin Distribution

Technology

Transaction Details

How it works

"The Merit Circle DAO consists of four verticals: Investments, Development/Incubation, Gaming, & Trading; creating an ecosystem that adds value to the DAO and, thereby, the MC token."

Fees

Upgrades

Staking

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Their Other Projects

Roadmap

  • Can be found [Insert link here].

Usage

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding and Partners

Team

  • Full team can be found [here].

Funding

Partners

(:

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