How To Buy Merit Circle (MC)?

A common question you often see on social media from crypto beginners is “Where can I buy Merit Circle?” Well, you’ll be happy to hear 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.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

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.

How Does Merit Circle (MC) Work?

Merit Circle DAO is the central hub where all the main action happens. Multiple SubDAOs work inside the main MC DAO to support the play-to-earn industry running on the protocol. The decisions on the protocol are taken through a governance model that is operated by anyone who is an MC token holder. 

Three parts make up the Merit Circle (MC). The MainDAO, SubDAO, and the Vaults.

The MainDAO handles a variety of SubDAOs as described above. If a user owns any stake on the platform, they can vote on the future of every subDAO. However, this is not possible in the alternate scenario. In summary, the MainDAO is responsible for scaling of subDAOs, generating yield farming income, governance of the Merit Circle future, and other similar stuff.

A SubDAO represents an ‘asset’, meaning a game in the play2earn industry inside the Merit Circle ecosystem. They ensure continuity of in-game strategies and are deployed to promote earnings and NFTs with positive value accrual expectancy.

The vaults are where the profits are generated and flow back to all the contributing stakeholders in the Merit Circle ecosystem. The complete MC DAO structure is shown in the image below: 

What is the Merit Circle (MC) 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. 

What is the 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.

Unique Features of Merit Circle (MC)

Play2Earn Index
Multiple subDAOs make up the Merit Circle DAO. Merit Circle’s play-to-earn activities in each game are represented by each subDAO. For example, Axie Infinity is assigned one subDAO, which has around 1,500 scholars who provide a high return on investment to MC DAO. The mainDAO will then be able to take part in other profit-generating operations, acquire more NFTs, perform yield farming, and engage in other upcoming games.

Staking, NFT Drops, and Prizes
The Merit Circle (MC) has set aside a large number of tokens as staking prizes, NFT drops, in addition to exclusive in-game awards and early access to numerous games. The MC team also plans to add more rewards for token holders as the DAO grows and branches into new sectors.

Governance Protocol
Acquiring even a single MC token provides the holder a vote in the DAO’s future. While the Merit Circle DAO’s primary contributors established an initial foundation and objective for the organization, the path ahead is unknown and it will be decided through the governance model.

As per the whitepaper of Merit Circle (MC), members of the board of directors can express their thoughts by broadcasting suggestions to the rest of the company, after which each token holder can vote to support or oppose any proposal on the governance platform.

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:

Merit Circle development updates in 2023

The Merit Circle (MC) DAO has undergone several important developments in 2023, reflecting its dynamic and evolving ecosystem:

• Token Migration to BEAM: A significant change was the migration of the Merit Circle token ($MC) to $BEAM, following the acceptance of proposals MIP-28 and MIP-29. This migration aligns with the current activities within the Merit Circle ecosystem, ensuring that the full utility of the $MC token is transferred to $BEAM.

• Launch of Beam Network: The Beam network, which is a gaming-focused blockchain, has been opened to the public. Key features include the Beam Companion App, Sphere (an NFT marketplace for gaming assets), Beam Hub (for discovering games and participating in tournaments), BeamOS, and Beam SDK. This network is a significant step in expanding the Merit Circle’s influence in web3 gaming.

• Governance and Treasury Diversification: The Merit Circle DAO has engaged in active community governance, with discussions on treasury diversification and other matters. Notably, there were discussions about adopting automated agents for treasury management, but the community showed a lack of interest in deploying DAO assets in DeFi yield farms due to perceived risks and low potential yields.

• DAO’s Multisig Structure and Constitution: Changes were made to the multisig structure of the DAO, and a written constitution for Merit Circle DAO was adopted. This constitution is now stored on-chain as an ERC-1155 token.

• MC Tactile Merchandise Project: MC Tactile, the first Merit Circle merchandise project, was introduced, with merchandise expected to be distributed in Q1 2023.

• Quarterly Treasury Updates and New Partnerships: The DAO has started providing quarterly treasury reports and has formed new partnerships, indicating a strategic approach to financial transparency and expansion.

• Development and Ecosystem Funding for Beam: There are ongoing developments and funding for various products and features to be launched on Beam, aimed at enriching the Merit Circle ecosystem.

• Staking Environment Changes: Important changes were made regarding the staking environment, including the cancellation of future staking rewards and unlocking V2 stakers.

These updates highlight Merit Circle’s commitment to evolving its governance structure, treasury management, and expanding its reach in the gaming and blockchain space. The DAO’s focus on developing the Beam network and adjusting its tokenomics reflects a strategic approach to growth and community engagement.

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.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).