Merit Circle (MC)
Basics
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
- From this thread (1-11-2022):
"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
- Has (1-11-2022) a burn mechanism:
"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
- Whitepaper or docs can be found [insert here].
- Code can be viewed [insert here].
- Consensus mechanism:
- Algorithm:
- Virtual Machine:
- Development language used:
Transaction Details
How it works
- From this thread (1-11-2022):
"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
- Mechanism Capital lists them in their portfolio as of 15-5-2023.
Partners
(:
Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
