What is Treasure DAO? Treasure DAO is an ecosystem of different games built and developed on the Arbitrum ecosystem. Treasure DAO is also the second project on Arbitrum’s ecosystem to be listed on Binance in Innovation Zones after GMX. So Treasure has a special attraction, everyone can find out through the article below.
To better understand Treasure DAO, people can refer to some of the articles below:
- What is Arbitrum (ARB)? Arbitrum Cryptocurrency Overview
- Treasure (MAGIC) Ecosystem: Nintendo of the Crypto Market
Treasure DAO Overview
What is Treasure DAO?
Treasure DAO is control center of an ecosystem that includes video games and player communities, all tightly interconnected through the native MAGIC token, NFTs, and infrastructure pieces like the NFT Marketplace and DEX.
Initially, Treasure DAO was developed on Ethereum. However, after the success of the Token and NFTs fair launch with attracting a large number of community participants, the project decided to move to L2 Arbitrum and in just 4 months they became the dominant NFTs platform. on this ecosystem.
The ecosystem that Treasure DAO wants to build includes 3 main layers that develop in parallel and complement each other:
- Cartridges: Games and metaverse built by Treasure DAO itself as core Cartridges Bridgeworld and Smolverse, besides other game projects developed from devs have many years of experience. The common point of this class is that they all use MAGIC to operate the economy.
- Intermediate layer:
Treasure Community consists of an aggregate of many smaller communities, connected through lore, guilds, resources (in-game stories) and MAGIC. - Core layer:
The infrastructure includes an economic engine shared between projects, tools to support game building and other resources such as NFT Marketplace, Magicswap or DAO to help the ecosystem operate smoothly and also empower decision-making. Future Treasure for builders.
The TreasureDAO difference
For Gamefi 1.0, the closed economy in a single game limits the community, financial resources as well as reduces the appeal of the game. Along with that, instead of being able to focus on creating an attractive gameplay mechanism, Game developers have to spend their energy on calculating the tokenomic mechanism as well as how to balance between earn and play.
These limitations are recognized and resolved by TreasureDAO by linking all Games in the ecosystem with a single common currency MAGIC – similar to the EU with EURO. MAGIC coin in TreasureDAO is used as follows:
- Players earn MAGIC through playing, printing, and participating in Bridgeworld (the bridge between the real world and the world in TreasureDAO)
- MAGIC token holders participate in governance voting, staking and liquidity to collect yield or invest and trade NFTs from Games.
- Mint game players create NFTs that can be sold on Marketplace to earn MAGIC and can then use Magicswap to exchange for other tokens.
- New quality projects receive MAGIC from the DAO to be able to build and attract more new players.
Under the most ideal conditions, TreasureDAO’s ecosystem attracts and retains many players, the above factors are Dual growth leverage for MAGIC tokens.
Development Roadmap
After migrating from Ethereum to Arbitrum, Treasure DAO quickly focused on completing the pieces in the middle and core layers with a solid infrastructure. In 2022, the team expanded to develop the pieces in the outermost layer. (Games) and connect to the ecosystem through MAGIC and NFTs.
The plans that will take place in 2022 are as follows:
Quarter 1 and 2
- Expand cooperation links
- Expanding the Metaverse ecosystem
- Create a bridge with Partner’s ecosystem
- Deploying phase 1 of Bridgeworld
Quarters 3 and 4
- Complete phase 2 of Bridgeworld
- Bridgeworld MVP
In the long-term vision, TreasureDAO’s Founder shares the project’s orientation to develop its own blockchain so that builders can freely create while still ensuring optimal user experience at TreasureDAO.
Core Team
- John Patten | Founder: John worked as an analyst at the Department of Community Economic Development in Tennessee, before officially joining the Crypto market with a Growth position at the Osmosis project on the Cosmos ecosystem.
- Karel Vuong | Co-Founder & COO: Karel used to hold the role of CEO at Sagard – a company specializing in providing asset management services before turning to blockchain and holding many positions at Treasure such as building MagicSwap, developing 2 core games, Bridgeworld and Smolverse. , Co-Founder NFT Marketplace Trove and finally the position of CEO of Treasure.
- Gaarp Gaarp | Co-Founder & Growth: Incognito
Investor
TreasureDAO has successfully raised funds $3.5M via token sale in September 2022. This funding round was led by Digital Strategies Guild with participation from famous names such as ArbitrumSkycatcher Crypto, IOSG, Alchemy Ventures, 1kx, StreamingFast,…
Tokenomics
Overview information about TreasureDAO token
- Token Name: TreasureDAO Token
- Ticker: MAGIC
- Blockchain: Arbitrum
- Token Standard: ERC-20
- Contract: 0x539bdE0d7Dbd336b79148AA742883198BBF60342
- Token Type: Governance, Utility
- Total supply: 339.645.510
- Circulation supply: 206.268.180
- Maximum supply: 347.714.007
Token Allocation
- Treasure Farm: 33%
- Mining: 25%
- Staking / Liquidity: 17%
- Ecosystem Fund: 15%
- Team: ten%
Token Emission
MAGIC Emission has the same halving mechanism as Bitcoin, however, the time between halvings will be once a year instead of 4 years.
Token Use Case
MAGIC plays a huge role in the operation of the Treasure ecosystem specifically:
- Administration: Staking MAGIC uses gMAGIC to perform voting for DAO governance.
- NFT Trading: Use MAGIC to exchange NFTs of games in Treasure.
- Liquidity level: Join LPs at liquidity pools on Magicswap and Sushiswap.
In addition, MAGIC is also used by TreasureDAO to sponsor the development of game projects in the ecosystem.
Trading Platform
Currently, you can buy MAGIC at exchanges: Binance, Coinbase, MEXC, CoinEx, Bybit, Uniswap, Sushiswap,…
TreasureDAO’s Information Channel
- Website: https://treasure.lol/
- Twitter: https://twitter.com/Treasure_DAO
- Discord: https://discord.com/invite/treasuredao
Summary
Hope this article helps you understand clearly What is TreasureDAO? With what Treasure DAO is building, it is too early for us to confirm whether the project will be successful or not. However, in my opinion TreasureDAO is on the right path from the business model to becoming a platform service provider instead of developing games or even choosing to leave the project from Ethereum to Arbitrum early to receive cash flow and support. Support from this Layer 2. Perhaps listing MAGIC on Binance and CZ is also implicitly affirming the potential of TreasureDAO in the future.