Binance decided to list Merit Circle on its platform. The exchange also opened trading for MC/BUSD, MC/BTC, and MC/USDT trading pairs on December 2, 2021. Merit Circle is working to create a decentralized autonomous organization. The latter will develop opportunities to earn money through play for users who want to help build the metaverse.
The Merit Circle platform will host scholarship and educational opportunities, as well as everything else a person could need to become an earning gamer in the metaverse. According to the team, the Merit Circle DAO will consist of a mainDAO governing over many subDAOs that function as tentacles across the whole Play-to-Earn industry. Various independent parties and individuals will maintain the protocol through governance powered by the MC token holders.
The team aims for the Merit Circle DAO to become an instrument that will suit the needs of many different groups. Operating in the novel Play-to-Earn industry, the company wants to bridge the gap between DAO contributors, gamers, and education. Its platform will enable players to earn revenue by simply playing games in the Play-to-Earn model. While every gamer can earn revenue on their own, users working with Merit Circle will get many benefits.
The company offers the most competitive in-game assets to its players. For instance, it will provide educational content and host classes to improve the performance of its users. Merit Circle has a vibrant community of fellow gamers. It plans to host meta-games on top of the existing games for its community members. Furthermore, the team will grant additional rewards to its best-performing players. The platform already boasts more than 1,500 scholar users, and the team hopes to recruit thousands of new scholars in the upcoming months.
What about the managers?
In the blockchain gaming space, there are thousands of players spread out worldwide. Managers oversee the daily operations to structure these flows and handle requests. Similar to the above, the Play-to-Earn model allows every user to host their own students and even become a manager themselves. However, being a Merit Circle manager means enjoying additional benefits.
The company has a vibrant pool of some of the best players in multiple games. It also allows managers to switch between various games seamlessly and reward them with additional rewards based on their performance. Merit Circle also boasts a wide range of tools and scripts to structure workflows optimally. The company currently has managers spread out across Asia and Africa. However, the team is determined to have managers across the entire globe to help various local communities to start playing and earning.
DAO Contributors will also play an important role
This platform functions as an index fund for the Play-to-Earn industry. As a result, its current balance sheet consists of numerous highly valuable assets. The company aims to make a profit to enlarge its DAO’s treasury with each strategy it embraces. It already utilizes a scholarship model, land plays, and financial investments.
Moreover, the team allows everyone to become a Merit Circle DAO contributor. Users just have to purchase the MC token and receive their stake in the DAO. Each contributor will, directly and indirectly, benefit from the growing value of the DAO’s treasury. The latter will automatically result in a growing floor price for the MC token.
What about the MC token?
The MC token is the heart of Merit Circle’s DAO. The team created it as a utility and governance token. It wanted to ensure that all contributors to the DAO, whether on a short and long timescale, would have incentives to acquire and retain the MC token.
Owning even a single MC token gives the user a voice about the future of the platform. The main contributors to this DAO already began working on an initial infrastructure and purpose for the organization, but the journey ahead is open to change. Other users are free to contribute as well.
The Merit Circle governance forum will become a place where governance members will be able to share their opinion by broadcasting proposals with the other members. Token holders will then vote to either accept or reject any proposal. Aiming to satisfy its entire community of contributors, gamers, and managers, the company ensured a widespread distribution of the MC token.
The Merit Circle
Merit Circle will implement the governance structure according to the OpenZeppelin’s Governor contract. It will also use Tally as a full-fledged application for on-chain governance. The latter consists of a voting dashboard, real-time analysis, and proposal wizard. The governor contracts are compatible with Tally, as well.
Moreover, this platform consists of many different subDAOs, and each of them represents its operations in a specific play-to-earn game. At this point, the company has one subDAO for Axie Infinity, which boasts over 1,500 scholars. It is generating a large return on investment for the DAO, thus contributing to the mainDAO. Thanks to that, the mainDAO will have the ability to branch into new games and acquire more NFTs. It will also embrace yield farming strategies and other ways of generating profit.
The team focuses solely on play-to-earn gaming. It offers users to participate in dozens of play-to-earn games and acquire precious NFTs, but they must own a piece of the MC token to get access. After deploying the MC token into the blockchain airwaves, the team enables users to stake their tokens. It also has set aside a substantial amount of tokens to distribute as rewards for staking. The company will contribute other rewards in the future as well.
When will the 8bit’s ICO start?
8bit NFT Space is a relatively new protocol that offers a unique product in the form of NFT collections. These tokens are actually delightful cards with heroes of 8bit games. The company aims to create an ecosystem for connoisseurs of art. It also enables them to purchase an exclusive token – 8BIT. The team aims its token to become a universal reward for 8bit art, as well as a part of the daily life of fans of the 8bit era.
The team will launch its native utility token on December 5, 2021. The token price will be $0.000500 per 8BIT during the initial coin offering.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.