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Sad Cat Capital

@sadcatcapital

Jan 11

@MeritCircle_IO

The @MeritCircle_IO DAO had a busy 2022, yet just 10 days into January the DAO launched a brand new, consolidated website.

Let’s reflect on 2022, and what 2023 could have in store for $MC 🧵🎮

1/28

Firstly, we want to recommend reading Merit Circle’s excellent summary of what the DAO achieved in 2022.

medium.com/@meritcircle/l…

2/28

2022 was a tough year for market participants. Many DAOs, firms and projects did not survive the rapid decline of asset prices, and the domino effect of the subsequent insolvencies.

Merit Circle not only survived the collapse, but has come out stronger.

How?

3/28

Read 28 tweets

Sad Cat Capital

@sadcatcapital

Jan 2

A new year of opportunities.

The #FED's tightening led to a significant drop in equities and crypto, along with rapidly increasing bond yields. The dollar strengthened against other currencies especially EUR, GBP and JPY.

1/7

The crypto market was especially hard hit due to LUNA/UST, FTX/Alameda, and funds such as 3AC blowing up. Bad actors and degeneracy helped bring down crypto even harder than the wider macro market did.

2/7

With the many predictions of recessions around the world, the fed seemingly looks to hold rates at a high level throughout 2023. Has inflation actually topped or will there be a future resurgence? But, more importantly, how are you taking advantage of either outcome?

3/7

Read 7 tweets

Sad Cat Capital

@sadcatcapital

Nov 29, 2022

@MeritCircle_IO

It has been 12 months since the @MeritCircle_IO DAO Treasury launched.

Despite a 73% drawdown in the Crypto total market cap during this period, the Treasury value remains strong at a current valuation of $102.6m. $MC

treasury.meritcircle.io

1/14

Over the past year, the DAO has burned over 330m $MC tokens - almost 1/3rd of the total supply.

These burns have been from market buybacks using DAO profits, and from DAO wallets which the community voted to burn (MIP-7 and MIP-20).

2/14

During the last 12 months, the DAO has realized a profit of $24.6m and has bought back almost 5m $MC tokens from the open market.

Unlike other treasuries, Merit Circle does not inflate the Treasury's valuation by including native $MC token (~180m $MC tokens).

3/14

Read 14 tweets

Sad Cat Capital

@sadcatcapital

Jul 26, 2022

@MeritCircle_IO

It has been 4 months since our last partnership thread, and the @MeritCircle_IO DAO continued to invest across #GameFi.

Here is an updated thread for the new $MC game partners:

1/29 🧵

https://twitter.com/sadcatcapital/status/1508453348223209477

This thread is intended as a continuation from our previous thread which can be found here:

https://twitter.com/sadcatcapital/status/1508453348223209477

Neither thread is an exhaustive list, as some partners and/or investments remain unannounced.

2/29

For a list of investments made by the $MC DAO we recommend checking the latest July 2022 treasury report here:

meritcircle.substack.com/p/13-treasury-…

3/29

Read 29 tweets

Sad Cat Capital

@sadcatcapital

Jun 13, 2022

@MeritCircle_IO

After first being announced almost 2 months ago, the @MeritCircle_IO team have shared exciting information about their new NFT marketplace: #Sphere - @GetOnSphere

Here's a short summary of what we know from $MC so far, and what we have to look forward to 🧵

1/24

@OpenSea

Despite NFTs being heavily related to #GameFi, current NFT marketplaces (@OpenSea, @LooksRare, @the_x2y2) are still completely focused on PFP/memes/membership/utility/celebrity NFTs.

Gaming asset NFTs are lost in the mix, and this is where Sphere comes in.

2/24

@DeptAgency

Merit Circle are working with @DeptAgency to deliver a purpose-built NFT marketplace which specifically targets these gaming assets.

The aim is to become a multi-chain, all-in-one, low-fee, marketplace for gamers to buy, sell, and trade their in-game NFTs.

3/24

Read 24 tweets

Sad Cat Capital

@sadcatcapital

May 24, 2022

@avalancheavax

With the recent launch of @avalancheavax subnets, we wanted to take a look at why games such as @PlayAscenders are deciding to launch on an #Avalanche subnet.

If you don't know what a $AVAX subnet is, here is a simple thread going over the basics 🧵

1/16

Subnets are a scaling solution for the #Avalanche blockchain. Each subnet is a group of validators who work together to bring consensus to one, or more, blockchains.

To put it simply, subnets allow projects to launch their own custom blockchains within Avalanche.

2/16

These subnets do NOT share network loads with the primary Avalanche network, and are independent from other subnets.

This means each subnet can enjoy low latency, high TPS, and low transaction costs, without being burdened by Avalanche main-net traffic.

3/16

Read 16 tweets

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