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About the
Merit Circle DAO.

The Merit Circle DAO is the process of governing Merit Circle. Core decisions are made by the community who use a purchasable utility token ($MC) to fairly vote on potential outcomes.

Anyone can make a proposal. Any proposal has the potential to reach a vote.

Proposals are made through our governance forums. Take a look at the forums to see recent threads and discussions.

Governance forums.

Go to governance forums

Whenever a discussion receives enough traction the proposal can move to a vote.

Votes are held through our Snapshot voting platform. Anyone who holds the Merit Circle token ($MC) can vote.

Snapshot voting platform.

Go to voting platform

Votes are either closed or open. Closed votes either pass or fail.

When a vote is held the majority decides the outcome, whether that proposal will be acted upon or not.

Recent proposals

MIP-9 Hire Shashwat Ashiya as the Head of Governance

closed

Yes

As the DAO gains momentum and the community becomes more active, the DAO requires a consistent and well-run governance process in order to remain stable and secure as it grows. The DAO needs someone to write governance reports, moderate and improve the governance forum, network with other DAOs, hold governance meetups and various other activities. These tasks are essential for developing and maintaining a healthy DAO and ensuring constant communication between the DAO and the community. The Core Contributors of the DAO have found a suitable candidate. Find the complete proposal and discussion here: https://gov.meritcircle.io/t/hire-shashwat-ashiya-as-the-head-of-governance/237 Should the DAO hire Shashwat Ashiya as Head of Governane?

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MIP-8 Hotwire investment and partnership

closed

No

This proposal is for an equity investment into Hotwire Studios and a token investment into Game 1, Nitro League. Given the current market cap of Nitro League of 120M fully diluted and the equity investment terms, the equity investment is nearly covered just by the proposed Nitro token holdings. This proposal will cover the Hotwire Studios game and infrastructure opportunity as well as the Nitro League game and how the Hotwire infrastructure drives in-game value. Read the full proposal and discussion here: https://gov.meritcircle.io/t/hotwire-x-merit-circle-proposal/213 Should Merit Circle DAO invest in Hotwire?

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MIP-7 - Tokenecons - Sustainable future vision

closed

Yes

This proposal has the purpose of creating a sustainable ground for the future of Merit Circle and the MC token. We propose to use the proceeds from realized gains on investments across various investments done by the DAO to be deployed in a structured manner. This consists of using one part to re-fill the treasury in USDC, one part buying back MC tokens for the treasury and the remaining part burning a part of the MC tokens bought back. The full proposal and discussion can be found here: https://gov.meritcircle.io/t/sustainable-future-vision/192 Should the Merit Circle DAO adopt the token economics improvements as proposed in MIP-7?

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MIP-6 Early stage de-risking mandate

closed

Yes

This proposal gives the DAO a venue to de-risk early-stage token and NFT investments at the time they become liquid. By mandate the DAO would be able to do so quickly and flexibly, giving it more opportunities to benefit from short-term market conditions. It will also reduce the amount of governance overhead for something that is, in our opinion, a clear win for the DAO. Find full proposal and discussion here: https://gov.meritcircle.io/t/early-stage-investment-de-risking-mandate/172 Should the DAO get a early-stage de-risking mandate?

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MIP-5 Yielding USD Position Gro Protocol

closed

No

Gro protocol propose to help Merit Cicle DAO manage $2.5MM of the treasury fiat position through their risk tranched stablecoin PWRD, which offers deposit protection while generating yield. They propose, after discussion with the community, to allocate to the following positions: - 1.25MM in PWRD - 1.25MM in PWRD-3CRV (staked on Gro) Read the full proposal and discussion here: https://gov.meritcircle.io/t/proposal-partner-with-gro-protocol-for-treasury-management/141/15 Should Merit Circle DAO allocate 2.5MM to PWRD and PWRD-3CRV?

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MIP-4 Development Gaming Platform (Dept Agency)

closed

Yes

There are currently a lot of opportunities in the operational side of Merit Circle. Scaling, educating and maintenance of our current scholarship program is labor-intensive and sensitive to errors. Therefore we propose to develop an overarching platform that will house all the functionalities required to scale and sustain all the current gaming activities for Merit Circle. Find full proposal and discussion here: https://gov.meritcircle.io/t/development-of-gaming-platform-with-dept-agency/127 Should the DAO enter a collaboration with DEPT Agency to develop the gaming platform? (Dashboard)

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MIP-3 Yield Generation on Maple Finance

closed

Yes

The proposal outlined here is to be put through the Merit Circle governance process in order for the community to be able to review the proposal and provide feedback where necessary. If the proposal is approved by the DAOs governance process, the implementation of the proposal should follow these steps: - On Maple Finance, approve USDC to spend. - Deposit 10,000,000 USDC to the Maven 11 liquidity pool and receive Maple Pool Tokens (MPT), to be eligible for receiving USDC rewards - Approve MPT to spend. - Stake MPT in Maple Finance, to be eligible for receiving MPL governance token rewards (do not confuse with staking for the pool cover, staking MPT is purely to receive MPL rewards and it is a technical requirement). Find the full proposal and discussion here: https://gov.meritcircle.io/t/mip-3-yield-generation-on-maple-finance/92 Are you in favor (Yes) or against (No) MIP-3?

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MIP-2 Broad investment mandate

closed

Yes

Co-Authors: CitizenX Maven11 Flow Ventures LP Summary Merit Circle DAO raised $105,576,956 million in the Balancer Liquidity Bootstrapping Pool on Copperlaunch. The sale concluded on November 5th at 2 pm UTC after a 3 day raises period. After the conclusion of the sale, these funds were sent to the MainDAO in a 4 out of 7 multisig. We are proposing that the DAO have a broad investment mandate so as to enable our sizable cash position to be as productive as possible for the DAOs benefit. This mandate will be developed and may, at a later stage, narrow the investment mandate and may also create sub-mandates. All these future proposals will be voted on by the Merit DAO community, the $MC token holders, before they are enacted. Abstract After concluding a record-breaking Balancer Liquidity Bootstrapping Pool on Copperlaunch there’s now a large cash position in the MainDAO’s wallet. This cash is currently sitting idle, and we are of the view that it should be being utilized to further the DAO and the Merit Circle’s objectives as soon as possible. The complete proposal and discussion can be found here: https://gov.meritcircle.io/t/broad-investment-mandate/27/5 Are you in favor of MIP-2 (Broad investment mandate)?

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