Merit Circle announced its financial report, with over 510 million BEAM tokens burned this quarter

2024-01-19 21:32:16

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ChainCatcher news, the gaming guild Merit Circle announced its first financial report for 2024, revealing that the DAO treasury increased from $94,845,219 in September to $118,132,538 by the end of December 2023, a growth of 25.71% compared to the previous quarter.

It is reported that 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 this quarter have been burned.

Merit Circle stated that the most noteworthy DAO event this quarter was the launch of the BEAM network and the subsequent migration from MC to BEAM tokens. Additionally, while the rise in BEAM token value does not directly affect the DAO's financial balance, it does indirectly impact the DAO, as it still holds a significant amount of BEAM. The BEAM tokens remain available for the treasury, and their increasing value provides more resources, enhancing the DAO's image and legitimacy.

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