TreasureDAO (MAGIC) was launched on HotsCoin on January 15. TreasureDAO (MAGIC) is a decentralized NFT ecosystem built on the Ethereum second-layer chain Arbitrum and is specially built for the Metaverse project. MAGIC is currently open for trading on HotsCoin.
1. Project Overview
TreasureDAO (MAGIC) is a decentralized NFT ecosystem built on the Ethereum second-layer chain Arbitrum, specially built for the Metaverse project. On the Treasure Market, each project uses its native token MAGIC, and these projects have unique legends and stories in their respective metaverses. MAGIC circulates in the market as the only trading currency and plays the role of reserve currency in the entire Metaverse network. Treasure projects are narratively and economically interconnected through MAGIC, a token used by the DAO to fuel the development of new projects and continue to support more established projects.
2. Token information
Circulation: 257,214,479.015 MAGIC
Total supply: 347,714,007 MAGIC
Circulation market value: $ 283,666,940.631
Fully diluted market cap: $383,473,624.65
3. Key events
2022-09-26: TreasureDAO completed US$3.5 million in financing
2022-03-03: TreasureDAO suffered a hacker attack, resulting in a loss of US$1.4 million.
2021-12-23: TreasureDAO completed US$3 million in financing
4. Project interpretation
The core of Treasure DAO is built on the Ethereum second-layer chain Arbitrum. The goal is to integrate NFT, DeFi and Gamefi, and provide a bridge for different NFTs to connect to games and the metaverse. As the core of the ecosystem, MAGIC tokens run through every project on the Treasure market. Treasure DAO includes Bridge World, community, governance, Launchpad, trading market and other sectors.
5. Community and Governance
Treasure is a community-driven project, with most team members coming from the community, and the DAO establishes a framework through which the community can build with the team and receive rewards. Every item contributed by the community, including legions, treasures, and MAGICs, is distributed for free, embodying Treasure’s spirit of fair launch and open construction. In terms of governance, the community can submit proposals through the DAO forum and enter formal snapshot voting.
6. Launchpad and cooperative projects
Treasure DAO's Launchpad is used for the incubation of external projects. External projects that have been launched include Peek-A-Boo. Other projects include Smol brains, Body, Seeds of Life, Enjoyooooor, BattleFly, etc. These projects will be gradually launched in the future.
7. Economic Model
MAGIC is the native token of Treasure DAO, with a total amount of 350 million. It is produced through the POW mining mechanism and is halved every year. Mining output will be adjusted according to changes in the pledge ratio. Currently, Genesis single-coin mining has been stopped. You can only do SLP mining through staking Treasure or forming MAGIC-WETH. Treasure mining output has stopped, and the daily output of MAGIC-WETH is 50,000 MAGIC.
8. Project Team and Investment
The core personnel of Treasure DAO include John, the head of growth of Osmosis, the largest TVL DEX in the universe, and Jumpman as the main advisor. Investors include 1KX.
9. Project Outlook
As the first NFT ecological project on Arbitrum, Treasure DAO demonstrates the organic integration of NFT, DeFi and Gamefi through community drive and metaverse connection. In the future, Treasure DAO will continue to develop around liquidity and tap the potential of MAGIC. At the same time, Arbitrum’s support provides Treasure DAO with more resources and convenience, accelerating the development of the project.
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