Merit Circle 2024 Q1 Financial Report: DAO Treasury Increased by 25.71%

Merit Circle, the guild of blockchain games, has released its first financial report for 2024. The DAO treasury increased from $94,845,219 in September to $118,132,538 at the end of December 2023, representing a growth of 25.71% compared to the previous quarter.

In the fourth quarter of 2023, Merit Circle purchased a total of 514,216,432 BEAM tokens worth $3,274,377. All BEAM tokens purchased during this quarter have been burned.

Merit Circle highlights that the launch of the BEAM network and subsequent migration from MC to BEAM tokens were significant events for the DAO this quarter. Although the increase in value of BEAM tokens does not directly impact the DAO's financial balance, it indirectly affects it as the DAO still holds a substantial amount of BEAM. Firstly because these tokens can still be used by our treasury department and their increasing value provides more resources; secondly because it enhances our DAO's image and legitimacy.