What is MAGIC

1. Project Introduction
MAGIC is the native token of the Treasure DAO ecosystem, a decentralized NFT ecosystem built on the Arbitrum network to connect metaverse projects, gaming, and decentralized finance (DeFi). The MAGIC token acts as a “bridge” within the ecosystem, powering the NFT marketplace, in-game assets, and various DeFi protocols. Users can stake MAGIC to earn rewards, participate in governance, and trade NFTs on the Treasure Marketplace. The project’s goal is to establish a community-driven metaverse ecosystem that promotes cross-project and cross-platform interoperability.
Summary: MAGIC is the core token of the Treasure DAO ecosystem, linking gaming, NFTs, and DeFi to drive community-led metaverse development.
2. Team & Investment Info
Team:
Karel Vuong: Co-founder of Treasure, graduate of the University of Toronto.
Gaarp: Co-founder and Growth Officer at TreasureDAO.
John Patten: Co-founder of TreasureDAO, previously Head of Growth at Osmosis.
Yuri Visser: CTO at Treasure, former employee at Revolving Games.
Funding:
$3 million at the end of 2021 from 1kx, Merit Circle, Ready Player DAO, AcadArena, Neon DAO, and Blockpool.
$3.5 million in September 2022 from Digital Strategies, 1kx, IOSG Ventures, Arbitrum, Alchemy Ventures, ID Theory, Kratos Gaming Network, Neon DAO, StreamingFast, and Skycatcher.
3. Social Media URLs
X: https://x.com/Treasure_DAO
Discord: https://discord.gg/treasuredao
4. Token Info
Token Symbol: MAGIC
Total Supply: 347,714,007 MAGIC
Token Type: ERC-20 (on Arbitrum network)
Issuance/Burn Mechanism: MAGIC has a deflationary mechanism, with token supply decreasing through in-game mechanisms and staking activities to increase scarcity.
Contract Address: 0x539bdE0d7Dbd336b79148AA742883198BBF60342
Token Distribution:
Liquidity Mining & Ecosystem Incentives: 33%
Community & Ecosystem Development: 30%
Team & Advisors: 15%
Treasury: 15%
Early Contributors: 7%
For more details, refer to the white paper: https://docs.treasure.lol/
5. Related Links
Official Website: https://www.treasure.lol/
GitHub: https://github.com/TreasureProject/
Other Info: https://www.rootdata.com/search?keywords=magic