Merit Circle burning $147 million of native tokens to ‘get it over with'

Merit Circle has decided to speed up its burning process by burning a remaining 200 million tokens in one go. The post Merit Circle burning $147 million of native tokens to ‘get it over with' appeared first on The Block.

Timeline of Merit-circle

Merit Circle and seed investment company Yield Guild Games (YGG) have agreed to a $1.75 million settlement after ordinary investors voted to kick YGG off the project.  The post Merit Circle Settles for $1.75M; DAO Votes Yield Guild Games Out appeared first on BeInCrypto.

For Merit Circle Ltd and Yield Guild Games (YGG), looking for a neutral settlement for their differences is a more peaceful option. Unfortunately, the DAO decided to eliminate YGG through community votes.

Merit Circle DAO votes to end the partnership between the two giants of the play-to-earn space.   Joint Statement Announces End Of Partnership  After working together for seven months, the Merit Circle DAO has voted to terminate the relationship with Yield Guild Games (YGG).

Play-to-earn giant Merit Circle (MC) will pay out $1,750,000 to competitor Yield Guild Games (YGG). The post Yield Guild Games walks away from Merit Circle with 10 times its investment following ouster appeared first on The Block.

The passing of an investment proposal brought into question a legal agreement between the organizations and the Merit Circle DAO agreed to a counterproposal that would ensure a settlement.

Two prominent names in the play-to-earn scholarship space are at odds after members of the Merit Circle DAO (Decentralized autonomous organization) put forward a proposal to refund an investment by Yield Guild Games because of what they deem as an insufficient amount of value added by YGG.