The Merit Circle DAO is the process of governing Merit Circle. Core decisions are made by the community who use a purchasable utility token ($MC) to fairly vote on potential outcomes.
Proposals are made through our governance forums. Take a look at the forums to see recent threads and discussions.
Governance forums.Go to governance forums
Votes are held through our Snapshot voting platform. Anyone who holds the Merit Circle token ($MC) can vote.
Snapshot voting platform.Go to voting platform
When a vote is held the majority decides the outcome, whether that proposal will be acted upon or not.
How long should stakers be able to lock their assets ( $MC/USDC and $MC) in the staking v2 module?View proposal
Which LP asset should $MC be paired to for the main LP staking pool that receives part of the DAOs staking dividends and subsidies? First official poll for the staking v2 discussion https://gov.meritcircle.io/t/discussion-staking-v2/401/34 A discussion that should ultimately lead to a MIP that outlines the design and execution the new staking v2 module. Relevant information: The pool will be an Uniswap v2 or v3 pool on Ethereum. The pool will have a ratio of minimally 50% MC and maximally 90% MC (vs 50% to 90% of the pairing asset). The current pool is a MC/ETH 50/50 Uniswap v2 pool. The old pool is phased out, current v1 stakers do not have to worry. They will receive the same proportional rewards, until the last staker is unlocked (1Y from new pool launch). The new pool will accrue the majority of the dividends and subsidies the protocol will attribute to stakers (currently 80%). The pool will exist next to a single staking $MC pool, that also receives part of these staking rewards (currently 20%). The LP stake can be locked for 0-48 months. The longer the lock, the higher the rewards for the staker. The bonus multiplier will be either linearly or exponentially. LP tokens will retain a similar voting weight as they have currently in the V1 system. Locked stakers could also get secondary benefits, such as airdrops from (partner) games or platform fee discounts.View proposal
As an overview, I and other MC token holders, believe the current use of ‘free cash flow’ or ‘net income’ (which we are defining as funds received from the DAO over and above what is needed for reinvestment or to cover maintenance expense) does not provide maximum value for long term token holders or the DAO itself . Similar to high quality equities (also cash flow producing entities) there is substantial evidence/research that the most economically beneficial use of free cash flow or net income (outside of reinvestment back in the business) fall into three categories . These include 1- S hare buybacks (if management feels market price is undervalued), 2- Dividend Payments to shareholders, and 3- in select cases accumulation of some amount of liquid high-quality assets to keep in Treasury for future operations, defense, investment, acquisitions, etc. I am proposing the following to align MC free cash flow/net income allocation away from the current framework and towards what is historically recognized as the best economic use of free cash flow with some flexibility given to the DAO, see link: (and for subsequent discussion) https://gov.meritcircle.io/t/improved-dao-free-cash-flow-net-income-allocation-proposal/356 Should the Merit Circle DAO adopt this improved FCF/NI proposal?View proposal
Summary This proposal aims to deploy part (up to 10,000,000 $) of the idle stablecoin balance of the Merit Circle DAO treasury into Anchor Protocol, a Dapp on Terra blockchain. The treasury still has 53 Million USD sitting idle on the balance sheet. Anchor protocol offers an outlet to make USD stablecoins, in the form of UST, productive. Anchor Protocol currently offers a 19,5% yield fixed rate on deposits, while maintaining a lot of withdrawing and depositing flexibility. Deploying will diversify the stablecoin balance of the DAO and will increase the yield that the treasury assets will generate. Read full proposal and discussion here: https://gov.meritcircle.io/t/mip-11-deploy-idle-stablecoin-balance-into-anchor-protocol/361 Should the Merit Circle DAO deploy 10M USD from the treasury assets into Anchor protocol?View proposal
To take a step towards bringing the Merit Circle DAO to the vertically integrated gaming DAO we envisioned, we would like to share some negotiations that have been going on. Furthermore, we would like to use this proposal to create a framework for future projects that will live under the Merit Circle DAO. Edenhorde is one example, but in this same proposal we share the negotiations with two senior developers who have created a game that we’re aiming to launch under the Merit Circle DAO. In this proposal we share the financial breakdown of these projects and thereby indicate the way we envision sufficient in the near future. Read the full proposal and discussion here: https://gov.meritcircle.io/t/framework-around-financial-terms-for-games-developed-by-merit-circle-dao/294/9 Should the Merit Circle DAO move ahead with a framework targeted at game development?View proposal
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?View proposal
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?View proposal
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?View proposal
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?View proposal
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?View proposal
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)View proposal
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?View proposal
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)?View proposal