Treasure Chain Shutdown

MAY

30

Event date

Friday 30 May 2025, UTC

Event description

Treasure DAO is winding down its ZKsync-based layer-2 Treasure Chain following the TIP-52 vote, which passed earlier this month, granting the team emergency powers to manage the closure. Holders must bridge out all ETH, MAGIC, SMOL, and NFTs by May 30, 2025, 11:00 AM PST. Bridging to L1 Ethereum for MAGIC/ETH and SMOL, and to Arbitrum for Beacon WOP NFTs, is already in progress. This shutdown aims to cut high operational costs (around $450,000 annually) and extend the DAO’s USDC runway through Fall 2026, refocusing efforts on product development [Treasure DAO X Post, 2025-05-06].

Recent News

Treasure DAO has faced financial strain in 2025. In April, the team executed deep cost-cutting, ending game publishing support and scaling back its L2 ambitions. A $100,000 USDC liquidation reserve fund was proposed to cover potential wind-down costs, reflecting cautious financial restructuring [Messari, 2025]. The chain’s closure, just five months after launch, underscores the challenges of sustaining layer-2 infrastructure in the gaming sector [Crypto.news, 2025-05-06].

Future Plans

Post-shutdown, Treasure DAO is pivoting toward AI and NFT utility, with plans for agent-owned wallets, automated trading, and multichain expansion. This strategic shift aims to streamline operations and foster growth in its ecosystem, moving away from blockchain gaming [Messari, 2025].

Onchain Data

Specific onchain metrics like transaction volume or wallet activity post-announcement are unavailable due to the chain’s wind-down phase. However, historical data showed declining MAGIC transaction volumes in 2024, hinting at reduced engagement [Medium, DeMan, 2024-01-26].

Community Sentiment

On X, reactions are mixed. Some users, like @0xKongy, sought clarity on NFT holdings, while others, like @CoreyEvensen, expressed uncertainty about MAGIC tokens. Treasure DAO’s responses have been proactive, guiding users on bridging assets, which has eased some concerns [Treasure DAO X Replies, 2025-05-06].

Risk Disclaimer

Bridging assets can involve network fees and timing risks—ensure you act before the deadline to avoid potential losses.

Treasure

Bullish or Bearish?

bullish
bearish

Treasure (MAGIC) Events List

Treasure DAO AI Frens Platform Release

Treasure DAO is launching AI Frens, an interactive AI platform, on September 30, 2025. This release marks the introduction of a new AI-focused product within the Treasure ecosystem intended to enhance user engagement and interaction. The platform's format is a release event, with official announcements hosted via Treasure DAO's social channels on X (formerly Twitter). Recent News Leading up to the launch, Treasure DAO has been actively updating its community on development progress through Twitter since mid-2025. The DAO has broadened its strategic focus to include AI tools integrated into their existing NFT and DeFi ecosystems, signaling a pivot towards AI-driven community experiences. Future Plans Treasure DAO's roadmap includes expanding AI Frens' features post-launch, aiming to build a comprehensive AI platform that integrates with their broader metaverse and gaming projects. Plans are in place to support ongoing community-driven enhancements and potential collaborations with other AI and blockchain projects. Onchain Data No verifiable onchain metrics available. Community Sentiment Sentiment around the AI Frens release is cautiously optimistic with community members excited about the DAO's innovation but awaiting more detailed technical and usability information. Typical comments include curiosity about the platform's capabilities and potential impact on Treasure's ecosystem. Risk Disclaimer As this is a product release rather than a direct token event, immediate price impact is unlikely; however, longer-term effects on Treasure's token value may occur as adoption and utility of AI Frens develop. Sources used https://x.com/Treasure_DAO/status/1965132609450836192

Treasure

September 30

Treasure

subscription

Be aware of the recent news
in crypto every day

Please keep me updated by email with the latest crypto news, research findings, reward programs, event updates, coin listings, and more information from Bitdates.