Hi Friends, you are welcome to DesirePaul Network on how to buy Merit Circle Token, Is Merit Circle a good Investment, Is Merit Circle Legit or Scam, What is Merit Circle (MC) Token, We also list out some other important things like Merit Circle Tokenomics. How to decide which Cryptocurrency Wallet to use for Merit Circle and lot more.
Let’s get started already with the jackpot.
What Is Merit Circle (MC)?
Merit Circle is a decentralized autonomous organization (DAO) with a mission to maximize value accrual across different games in the metaverse.
Merit Circle is creating a platform at the intersection of capital (investors), expertise (platform and managers) and players (gamers).
Brought to you by the founders of the Axie 420 scholarship and incubated by Flow Ventures.
Flow Ventures has committed to realizing Merit Circle’s vision and providing the team with all the necessary resources. This marriage equips Merit Circle with years of combined experience and expertise.
With over 500 scholars currently playing Axie Infinity and running elaborate breeding cycles, significant revenues are already streaming into the Circle of Merit, benefitting the liquidity providers, the Merit Circle DAO and the players.
The returns often translate into life-changing income and their first access to global financial infrastructure for the latter group.
Now, Merit Circle will not only focus on Axie Infinity. The team will continue to search for opportunities in the metaverse through new games, new revenue models and yet to be discovered concepts.
Merit Circle will remain at the forefront of innovation and invite anyone to accompany them to ride along.
The Merit Circle founders announced: “Through forming our identity, we laid our focus on three key pillars; gaming, cryptocurrency and investing.
We were looking to build a brand that gave space for the creative expression of the gaming industry, but one that could also stand alone, be trusted and feel inherently strong enough to inspire confidence, faith and belief.”
“We didn’t want our brand to feel like just gaming; it’s not just cryptocurrency, it’s not just investing; we’re doing something that speaks powerfully to any of these audiences without feeling too overwhelming towards one side or the other. We wanted to speak the language of each group.
Therefore, with pride, we’re bringing you the Merit Circle; ‘an organic group of individuals who are rewarded through shared interests and skills.’”
The world’s experiencing a revolution of the play-to-earn economy in the metaverse. Merit Circle is aiming to become the largest circle that will allow anyone to grasp the available opportunities.
Merit Circle will be leveraging the DAO’s brand and collaboratively invest in scholarships, purchase lands, invest in these economies and educate the community.
What is the Merit Circle (MC) TOKEN?/ How to buy Merit Circle Token
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.
An example of a proposal could be to vote whether the mainDAO will use treasury funds to ensure a soft floor price for the MC token through either buy-back mechanism or burns.
At inception, the governance structure will be implemented based on the battle-tested OpenZeppelin’s Governor contract.
Merit Circle (MC) will use Tally as a full-fledged application for on-chain governance, which consists of a voting dashboard, proposal wizard and real time analysis.
Their governor contracts are compatible with Tally and implemented at the DAO launch.
it is actually quite a simple and straightforward process.
STEP 1: CREATE AN ACCOUNT ON AN EXCHANGE THAT SUPPORTS MERIT CIRCLE (MC)
First, you will need to open an account on a cryptocurrency exchange that supports Merit Circle (MC).
We recommend the following based on functionality, reputation, security, support and fees:
In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.
Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.
STEP 2: DEPOSIT FUNDS INTO YOUR ACCOUNT
Many cryptocurrency exchanges will allow you to purchase Merit Circle (MC) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.
Note: Some payment methods will have higher fees than others, such as credit card payments.
Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.
STEP 3: BUY MERIT CIRCLE (MC)
This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Merit Circle (MC) or Merit Circle (MC) trading pairs.
Look for the section that will allow you to buy Merit Circle (MC), and enter the amount of the cryptocurrency that you want to spend for Merit Circle (MC) or the amount of fiat currency that you want to spend towards buying Merit Circle (MC).
The exchange will then calculate the equivalent amount of Merit Circle (MC) based on the current market rate.
Note: Make sure to always double-check your transaction details, such as the amount of Merit Circle (MC) you will be buying as well as the total cost of the purchase before you end up confirming the transaction.
Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection
What is Merit Circle (MC) Play-To-Earn Index?
Merit Circle is a DAO that consists of many different subDAOs. Each subDAO represents an operation in a specific play-to-earn game.
At this point, they have one subDAO for Axie Infinity, home to over 1,300 scholars. This is generating a large return on investment for the DAO, contributing to the mainDAO.
Then, the mainDAO will have the ability to branch into new games, acquire more NFTs, embrace yield farming strategies and other ways of generating profit.
Since the focus is solely on play-to-earn gaming, by owning a piece of the MC token, you get to participate in dozens of play-to-earn games and precious NFTs.
Betting on Merit Circle is betting on the play-to-earn industry to increase in value and size over time. The more profit each subDAO generates, the more the mainDAO can do.
After deploying the MC token into the blockchain airwaves, you’ll be given the chance to stake your tokens.
The Merit Circle founders have set aside a substantial amount of tokens in rewards for staking, but this is just a fraction of the rewards you can receive by staking the MC token.
Merit Circle is at the forefront of the play-to-earn industry partnering with multiple games.
Through these partnerships, they’ll have the ability to offer exclusive in-game rewards and early access to these games among other exciting structures.
Besides that, the aim is to provide the token holders with early access to NFT drops from partnersships, but also from Merit Circle itself.
Merit Circle (MC) Tokenomics
The total supply will be 1,000,000,000 MC tokens to be minted with no possibility for future inflation. The tokens will be distributed in the Token Generation Event (TGE) to the following stakeholders within the DAO:
Official website: https://www.meritcircle.io/
Best Cryptocurrency Wallet For Merit Circle (MC)
There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation.
There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical).
Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.
How do I decide which Cryptocurrency Wallet to use for Merit Circle (MC)?
Deciding which type of wallet to use depends on a variety of factors, including:
How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto.
Cold wallets are better suited for those looking to make less frequent trades.
What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.
Is Merit Circle a Good Investment or All Hype
While the concept behind Merit Circle is not entirely new, the project itself is a leading DAO with the goal to maximize value accrual across different games in the metaverse.
Its platform is at the intersection of capital, expertise, and players — representing investors, platform and managers — and of course, gamers.
The returns that the project has the potential to make will be able to translate into potentially life-changing income for some of the gamers engaging with it.
The players have recognized the value of the project and the scholarship program that was created for them, and there are already over 500 scholars currently playing Axie Infinity.
There are already significant revenues that are flowing into the Circle of Merit, which benefits the DAO itself, as well as players and liquidity providers.
More are expected to come, especially since Merit Circle DAO will now start focusing on other opportunities in the metaverse through new games.
Furthermore, Merit Circle boasts an impressive list of partners, including DeFiance Capital, Spartan Group, Yield Guild Games, and more.
These and others are all industry-leading names, who have praised Merit Circle for building a scalable operational process that can effectively grow, onboard, and sustain new members.
In fact, DeFiance Capital’s Arthur said that DeFiance believes that “Merit Circle will be among the top guilds that will be kingmakers in this land.”
All of the partners, plus a number of angel investors, supported the company during its seed round, helping it raise $4.5 million
How Many Merit Circle (MC) Coins Are There in Circulation?
Merit Circle (MC) has a total supply of 1,000,000,000 MC. The information on how many of its tokens will be released in circulation is not yet available.
It is known that 20% of the total supply will be allocated to the team members and advisors; 29.4% will be used for community incentives; 14.1% will be allocated to early investors; 7.5% will be up for public distribution; while the DAO Treasury will keep 15%.
The remaining 14% will be used as rewards, for liquidity rewards (10%) and Retroactive rewards (4%).
How is the Merit Circle Network Secured?
According to Merit Circle’s Medium post, the project was audited by Quantstamp — one of the leading security assessment firms in the industry.
Quantstamp analyzed and evaluated all aspects of the project, originally finding a total of 12 issues. The problems were resolved immediately, after which the code was analyzed by several individual senior developers.
In addition, the project has held a bug bounty, allowing the community to comb through its code and check for additional problems that may have slipped through the standard checks.
When Will Merit Circle Trading Begin?
Merit Circle is available for trading, with the earliest trading data suggesting that the coin trading started on Nov. 4, 2021, and the first volume data came in around Nov. 5, 2021.
Can MC Hit $10?
Merit Circle (MC) launched with the price of $2.8, and while it did briefly go below this price on November 5th (dropping to $2.7024), it quickly recovered and hit an ATH at $9.55 on November 6th, before correcting slightly yet again.
Now, the biggest question in the community is whether it can return to its ATH and breach it and whether this would also allow it to hit $10?
The project’s biggest recent developments include the introduction of staking which was announced on November 7th, as well as voting on ecosystem-related decisions.