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What is Merit Circle (MC)?

Discover the key facts about Merit Circle (MC).

About Merit Circle

MC is the governance token for Merit Circle, a DAO focused on developing the play-to-earn economy.

MC is the governance token for Merit Circle, a decentralized autonomous organization (DAO) focused on maximizing yield across play-to-earn games and the metaverse. The project aims to develop opportunities to earn MC through play-and-earn platforms for people who want to help build the metaverse. The ecosystem is made up of gamers, community managers, and DAO contributors. Merit Circle was initially known as Axie 420, a scholarship program for the blockchain-based Axie Infinity game. With the rebrand, the DAO is focused on expanding beyond Axie Infinity into other crypto games. Decision making on Merit Circle is undertaken through voting by MC token holders. 

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Why Donate Merit Circle?

Since MC has appreciated significantly, donating MC and other cryptocurrencies can save you money on your taxes. Because the IRS classifies cryptocurrency as property, this means you don’t have to pay capital gains tax on your donation and can deduct the amount on your tax return. This is why financial advisors recommend you donate your most highly appreciated assets first. Users who donate and enter their email address will automatically get a compliant tax receipt.

Don’t want your MC stack to decrease? Repurchase the same amount of MC afterward and still get the same tax benefits to offset some (or all) of your gains.

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