A deposit project on Robinhood has recently gained popularity: @MeridianCapDAO. As of today, the total value locked (TVL) in deposits has exceeded $10M. It is currently in Phase 1: Genesis. Users deposit specified assets such as ETH or USDC into the farm to earn gMCD, with a fixed reward pool of approximately 500,000 gMCD. However, there is a 2%–5% deposit fee. After the farm closes, only the principal still remaining in the pool can be exchanged for gMCD at a fixed rate of $0.10 per gMCD within a 24-hour window, with no slippage—meaning the timing of your deposit shouldn’t matter. Effectively, this is like paying 5% of your principal to participate in a token launch. The total project size is around $1.5M, with a $100,000 cap per address—currently oversubscribed. Phase 2 involves exchanging gMCD for MCD over a linear vesting period of 0–7 days. You immediately receive only about 10% of your allocation; the remainder is forfeited and burned unless you wait the full 7 days to claim the full amount. This design forces users to make a deliberate choice. Phase 3 allocates half of the treasury funds to buy back MCD over 60 days. The repurchased MCD is paired with the other half of the treasury to form a liquidity pool (LP), and buybacks continue continuously. This project feels distinctly old-school, and I’ve heard the founder is a longtime OG from OHM—no wonder the design reflects that ethos. It’s been a long time since we’ve seen a purely DeFi project like this. I plan to deposit a small amount to test it out, since logically, the initial circulating supply is limited to the 500,000 gMCD distributed by the farm—the lowest-cost way to acquire MCD. The team holds only 10% of MCD, locked for 90 days, meaning minimal selling pressure early on. In an ideal scenario, if everyone holds, the TWAP-based buybacks over 60 days could gradually push the price upward?