Recently, Binance has announced that it will list Treasure DAO (MAGIC) at 15:00 12/12/2022. So what is Treasure DAO? What’s so special about this project? Let’s go with Crypto Chill to find out.
What is Treasure DAO?
Treasure DAO is the largest decentralized NFT ecosystem on Arbitrum with the aim of connecting NFT Metaverse, DeFi, Gaming projects into a large ecosystem. Projects built on Treasure DAO all use $MAGIC to integrate their functions.
Treasure DAO members have the right to vote on a variety of issues such as which projects to launch, the distribution of $MAGIC as well as revenue sharing agreements from Treasure that provide additional funds to further support development. development of the entire Treasure ecosystem.
The project initially focused on developing DeFi integration in the direction of easy access to users according to basic concepts such as Liquidity Providing.
Highlights of Treasure DAO
The Marketplace
This is considered the first marketplace on the Arbitrum system capable of displaying, buying and selling NFTs compatible with all types of Tokens.
Bridgeworld
Is the main highlight for the whole ecosystem. Bridgeworld acts as a layer linking projects in the Treasure ecosystem, and as a bridge between NFT projects. Bridgeworld operates on three main assets:
MAGIC token: The native token of the Treasure ecosystem, acting as the main governance and also a popular trading asset for transactions on the marketplace. All Treasure projects are linked through the $MAGIC token.
Treasures: NFT projects from the Treasure DAO in the Treasure Metaverse. Can be used with features to earn $MAGIC Rewards.
Legions: Acts as a proxy for the players. Players can earn Treasures, craft items, and mine MAGIC through depositing their Legions.
Detailed information about MAGIC Token
Key Metrics MAGIC Token
Token Name: Treasure DAO Token
Ticker: MAGIC
Blockchain: Arbitrum
Token Standard: ERC-20 ARB
Contract: 0x539bdE0d7Dbd336b79148AA742883198BBF60342
Token Type: Governance
Circulating Supply: 206,263,904 MAGIC
Total Supply: 347,714,000 MAGIC
MAGIC Token Allocation
Treasure Farm: 33%
Mining: 25%
Staking / Liquidity: 17%
Ecosystem Fund: 15%
Team: 10%
Benefits of holding MAGIC Token
MAGIC holders will have the right to participate in governance, vote to participate in the development of the project in the future.
With the MAGIC DAO feature, staked MAGIC holders will have full control over Treasure’s economy including the tokenization and Treasure marketplace.
Project team
Team members and community contributors are listed in the TreasureDAO documentation.
@jpatten__ (John) – Founder | Creative Advisor
@yyyy (Yuta) – Founder | Solidity Dev | Game Lead
@gaarping – Founder | Growth | Tokenomics | Partnerships
Investors & Partners
In December 2021, the project raised more than 3 million USD to invest in $MAGIC led by 1kx to realize the economy in the Treasure Metaverse universe.
The project’s backers from the fundraising phase include prominent names such as: Jiho (Co-Founder Axie Infinity), Merit Circle, Jason Choi, ID, etc.
Roadmaps & Updates
The project has launched the launch of games and tokens. Plans for 2021 have been completed.
The plans that will take place in 2022 are as follows:
2022 Q1-2:
Partnerships.
Expand Treasure Metaverse.
Bridge Partner Ecosystem.
Bridgeworld phrase 01.
2022 Q3-4:
Bridgeworld phase 02.
Bridgeworld MVP.
Closing thoughts
Treasure OVERVIEW
The most bullish thing is the token mechanics. Regardless that the circulation is very low compared to the total supply at this time, MAGIC is designed to be increasingly scarce, plus emissions will be declining as the game economy grows. Also, as the ecosystem will expand with more partner games and users, the less supply of MAGIC there will be. The game revolves around stacking the token so a big portion of the supply will be locked. It doesn’t mean people will not take profit, and at this relatively small market cap, the coin will be very volatile.
Social sentiment signals that people like this innovative idea, the project seems to be in an infant stage yet, and it will be interesting to see how the ecosystem will grow.
But because of the reason the idea is so innovative and new it feels dangerous to put your money in just for investment purposes. Only by engaging in the game activities can you have a better grasp of the project and its value proposition.
Crypto Chill has provided you with basic information about Treasure DAO and the project’s MAGIC token. Let’s learn and evaluate the project to make the most informed investment decisions. Wish you luck!!!
Quai Network information channels:
Website: https://treasure.lol
Twitter: https://twitter.com/Treasure_DAO
Discord: https://discord.com/invite/treasuredao
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