TreasureDAO Pulls the Plug on Treasure Chain: A Bold Move for Survival

The Countdown Begins: May 30 Marks the End

TreasureDAO is slamming the brakes on its ZKsync-based Treasure Chain come May 30, just months after sounding the alarm on urgent cost-cutting and grabbing emergency powers. It's a race against time, folks!

Emergency Powers in Play: TIP-52 Passes

With TIP-52 now in the rearview, TreasureDAO's core team is wielding emergency powers to shut down Treasure Chain without any more voting pit stops. It's all hands on deck to manage this high-stakes shutdown!

Treasure Chain Wind-Down⛓️🌇

Treasure Chain's final curtain call is set for May 30, 2025. Listen up, holders: you've got until the end of May to bridge out your ETH, MAGIC, SMOL, and NFTs. Don't miss the boat! More updates and next steps coming your way👇

Urgent Call to Action: Bridge Out Your Assets

In a fiery X thread on May 6, the TreasureDAO crew sounded the alarm, urging users to bridge out all their assets and NFTs before May's over. This wind-down is part of a bigger pivot to slash costs and laser-focus on product development. It's all about survival, baby!

Bridging Discontinued, Liquidity Migrated

"Bridging to Treasure Chain? Forget about it," the team declared. They've already migrated MAGIC-ETH to L1 Ethereum, and it's now trading on Uniswap. SMOL-MAGIC liquidity is hot on its heels, migrating to L1 as we speak. Despite pulling the plug on the chain, the team's confident, boasting a USDC runway that stretches through Fall 2026.

TreasureDAO's Bold Statement

"Treasure is in a strong position, with our USDC runway extended through Fall 2026 — not counting our recovering MAGIC treasury. Shutting down Treasure Chain? It's gonna turbocharge our product development and slash those operational costs, setting us up for the next big growth phase."

TreasureDAO

A Positive Move, Not a Retreat

Even with the mainnet going dark, the team's spinning this as a power move for the org, not a white flag. Retiring the chain? It's a must-do, not a want-to.

The Hard Financial Truths

But let's not sugarcoat it — the shutdown's a bitter pill. Co-founder John Patten laid it bare in internal updates: the DAO's burn rate was bleeding them dry, with their runway potentially hitting a wall by late 2025. Keeping Treasure Chain alive? That's a cool $450,000 a year — cash the treasury just can't justify, especially with those ZKsync grants trickling in slower than molasses.

Easing the Transition

To smooth out the rough edges, the proposal's letting the team juggle around 3.18 million MAGIC and 138 ETH in DAO-owned liquidity. As TreasureDAO puts it, this shutdown's an "emergency measure reflecting the current extraordinary circumstances, not a permanent change to DAO governance principles." It's a temporary detour, not a new direction.

From Arbitrum to ZKsync: Treasure's Journey

Treasure was one of the early gunslingers on Arbitrum before blazing its own trail on ZKsync. At its peak, it was the king of the hill, accounting for over 95% of all gaming and NFT action on Arbitrum. Since launch, it's racked up a staggering $260 million in marketplace volume, according to Nansen's data. But now, it's time for a new chapter.