🚀 Treasure DAO Proposes Migration to ZKsync for Web3 Gaming Ecosystem
#TreasureDAO #ZKsync #Web3Gaming #Arbitrum #MAGIC #DecentralizedGaming #BlockchainMigration #Testnet
According to BlockBeats, on September 13, Treasure DAO announced a proposal to migrate its Web3 gaming ecosystem from Arbitrum to ZKsync. The proposal indicates that ZKsync is more suitable for meeting Treasure's long-term plans in decentralized gaming.
ZKsync has stated that voting on the proposal will commence on September 17. If the proposal is approved, Treasure's testnet will transition from Arbitrum to a new testnet on ZK Stack before launching the mainnet. Holders of Treasure's native token, MAGIC, will be responsible for deciding the migration plan.#TreasureDAO #ZKsync #Web3Gaming #Arbitrum #MAGIC #DecentralizedGaming #BlockchainMigration #Testnet
🚀 Treasure DAO Community Approves Launch Of Treasure L2 Network On ZKsync Ecosystem
#TreasureDAO #ZKsync #TreasureL2 #MAGIC #decentralizedgaming #testnet #Arbitrum #governance #crypto #community
According to Odaily, the decentralized gaming platform Treasure DAO announced on the X platform that the community has approved the proposal to launch the Treasure L2 network within the ZKsync ecosystem with a 99.5% support rate. As per the previous plan, Treasure's testnet will transition from Arbitrum to a new testnet on the ZK Stack before moving to the mainnet.
The Treasure Core development team stated, 'Generally, the team usually chooses not to participate in governance voting from a voting perspective and leaves it to the community.' Holders of Treasure's native token, MAGIC, will be responsible for deciding the migration plan.#TreasureDAO #ZKsync #TreasureL2 #MAGIC #decentralizedgaming #testnet #Arbitrum #governance #crypto #community
🚀 Treasure DAO Faces Financial Restructuring Amid Operational Challenges
#TreasureDAO #FinancialRestructuring #GameOperations #Treasury #Magic #Blockchain #DAO #Layoffs #MarketMaker #CommunityGovernance #ProductStrategy #OperationalChallenges #MAGIC
According to BlockBeats, Treasure DAO's chief contributor, John, has announced a restructuring due to worsening financial conditions, leading to the termination of game operations and the Treasure Chain. Documents reveal annual operating expenses of $8.3 million, while the current treasury holds only $2.4 million, initially projected to sustain operations until July 2025.
John, who has resumed a leadership role, disclosed that the team once comprised 40 members, with annual labor costs of $6.1 million and infrastructure costs of $3 million, including a fixed annual cost of $450,000 for Treasure Chain. Facing survival pressures, the DAO has laid off 15 employees and decided to cease game publishing support and Treasure Chain, assisting partners in migrating to other chains.
To extend the financial runway, John proposed withdrawing $785,000 in idle funds from market maker Flowdesk, which, if approved, would increase the stablecoin balance to $3.2 million, potentially extending operations optimistically until February 2026. Additionally, the ecosystem fund holds 22.3 million MAGIC, valued at $2.3 million, but if MAGIC's price plummets, the DAO might struggle to sustain itself between December this year and February next year.
The future strategy will focus on four main products: Marketplace, Bridgeworld, Smolworld, and AI agent expansion technology. The aim is to showcase MAGIC's application potential through Smols and Bridgeworld and develop Neurochimp agents to enhance market competitiveness. Upcoming community conference calls and governance proposals will address retiring Treasure Chain and adjusting market positioning, with the goal of reversing the current downturn through streamlined operations.#TreasureDAO #FinancialRestructuring #GameOperations #Treasury #Magic #Blockchain #DAO #Layoffs #MarketMaker #CommunityGovernance #ProductStrategy #OperationalChallenges #MAGIC
🚀 🔥 BTC/USDT,ETH/USDT and SOL/USDT Lead Binance USD-M Perpetual Futures Market in Trading Volume Over the Past 24 Hours 🔥
#BTC #ETH #SOL #MAGIC #XRP #USDT #Binance #Futures #TradingVolume
According to Binance Futures data, over the past 24 hours, the BTC/USDT, ETH/USDT, SOL/USDT, MAGIC/USDT and XRP/USDT trading pairs led the USD-M perpetual futures market in trading volume.BTC/USDT perpetual futures long/short ratio: 0.74, funding rate: -0.0022%.ETH/USDT perpetual futures long/short ratio: 3.64, funding rate: 0.0028%.SOL/USDT perpetual futures long/short ratio: 1.88, funding rate: 0.0031%.MAGIC/USDT perpetual futures long/short ratio: 0.57, funding rate: -1.7498%.XRP/USDT perpetual futures long/short ratio: 2.34, funding rate: 0.0070%.#BTC #ETH #SOL #MAGIC #XRP #USDT #Binance #Futures #TradingVolume
🚀 Treasure DAO Extends USDC Funding Amid Financial Challenges
#TreasureDAO #USDC #MAGIC #funding #financialchallenges #restructuring #gaming #operations #blockchain #cryptocurrency
According to Foresight News, Treasure DAO has extended its USDC funding chain until the fall of 2026, excluding the recovering MAGICMAGIC treasury bonds. More details will be revealed in the quarterly report on Monday.
Previously, Foresight News reported that Treasure DAO's chief contributor, John, announced in a video that the organization is facing restructuring due to deteriorating financial conditions, leading to the termination of game operations and the Treasure Chain. Currently, Treasure DAO's annual operating expenses amount to $8.3 million, while the treasury holds only $2.4 million, which is expected to sustain operations only until July 2025.
To extend the funding chain, John proposed withdrawing $785,000 of idle funds from market maker Flowdesk. If approved, the stablecoin balance would increase to $3.2 million, potentially extending operations until February 2026. Additionally, the Treasure DAO ecosystem fund holds 22.3 million MAGIC tokens, valued at approximately $2.3 million. However, if the MAGIC token price plummets, the DAO may struggle to continue operations between December this year and February next year.#TreasureDAO #USDC #MAGIC #funding #financialchallenges #restructuring #gaming #operations #blockchain #cryptocurrency
🚀 Magicians Experience Surge in Popularity
#magicians #popularity #entertainment #magic #performances #skills #interactiveexperiences #industryboost #innovation
Professional magicians are currently enjoying a significant rise in popularity. Bloomberg posted on X, highlighting the growing interest in magic performances and the increasing demand for skilled magicians. This trend is attributed to the unique entertainment value that magic offers, captivating audiences with its blend of mystery and skill. As more people seek engaging and interactive experiences, magicians are finding new opportunities to showcase their talents in various venues and events. The resurgence of interest in magic is also reflected in the media, with more coverage and features on prominent magicians and their performances. This renewed fascination with magic is providing a boost to the industry, encouraging both established and emerging magicians to innovate and expand their repertoire.#magicians #popularity #entertainment #magic #performances #skills #interactiveexperiences #industryboost #innovation