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TreasureDAO: An Introduction to TreasureDAO’s Ecosystem
Sandra Leow
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Overview

TreasureDAO began as a derivative of the Loot project. They launched their first 10k collection in August 2021. As the project gained traction and the interests of the community grew, they launched the MAGIC token in September.

In the current state of NFTs or gaming initiatives, buyers typically have to purchase the NFTs before gaining access to their utility.

TreasureDAO takes the opposite approach by allowing users to play for free. Users then acquire valuable items by working instead of paying for them.

Treasureverse

TreasureDAO works in three main steps, which can be broken down into MAGIC, Treasures, and Legions.

Treasure EcosystemDescription
MAGICMAGIC is the "natural resource of the Treasure metaverse. It acts as the in-game currency - players earn MAGIC through playing, mining, and participating in Bridgeworld. Magic is also designed to be increasingly scarce.
TreasuresTreasures (NFTs) are economic resources shared across the metaverse. Players will be able to use Treasures to craft consumables or burn them for special effects.
LegionsLegions (NFTs) are physical entities of Bridgeworld. Think of Treasures as resources and Legions as players.Players take control of Legions and Mine, Farm, Craft, Quest, Battle, and more to propagate and build the Bridgeworld through collective efforts.

Bridgeworld

Bridgeworld is a game of strategic commerce, trade, and domination that sits at the center of the Treasure metaverse.

As a recap, legions are physical entities of the Bridgeworld while Treasures are economic resources to fuel the Treasure ecosystem. Legions, treasures, and other NFTs native to Bridgeworld represent player characters and items that are used to explore, create, and extract MAGIC.

Here, you’ll be able to send your Legions to (1) Summon more Legions, (2) Quest for drops (e.g., Essences of Starlight, Treasures), (3) Craft consumables using Treasures and (4) Mine MAGIC. More features such as World Events will be added later.

How to get started?

As TreasureDAO’s flagship game, Bridgeworld was created by the core team. Think of it as an ecosystem where you can earn MAGIC tokens by staking, completing quests, etc.

As a starter, you can visit the Bridgeworld website here. Make sure your wallet is connected to the Arbitrum network.

So what can you do in Bridgeworld as a beginner?

  1. Stake for passive yield

    • Click the Atlas Mine at the center of the map
    • There will be guidance on the percentage of total circulating MAGIC that has been locked up
    • Users can choose to stake Treasure NFTs or Legions to boost MAGIC yield, however, these NFTs will help boost the yield on top of the existing MAGIC stake, but you cannot earn MAGIC on its own.
  2. Buy legion from the marketplace

    • There are Aux Legions and Gen Legions. Usually, people start with Aux Legions as they are usually cheaper; Gen is usually for more advanced play due to cost, however, the upsides are much higher (e.g: high boosts in Atlas Mine if you choose to stake)
    • Questing: Now you can start questing and earning rewards
    • Summoning: Head to the summoning circle. Each time you summon, you will have to pay a fee.
    • Crafting: After you have your MAGIC and Treasures, users can start crafting to join other players. Atlas Mines are typically where you would start, and this is where you can start growing and expanding your skillsets.

NFT Collections on TreasureDAO

  • Tales of Elleria
  • Peek-A-Boo!
  • BattleFly
  • BattleFly v1 Founders NFT
  • Smol Brain Pets
  • Smol Bodies Pets
  • Consumables
  • Legions
  • Smol Bodies
  • Smol Cars
  • Smol Brain
  • Smol Brain Land
  • Treasures
  • Seed of Life
  • Realm

Top Collections

Smol Brain

Smol Brain is a collection with dynamically adjusting pictures as PFPs. Users can stake their Smol Brain NFTs to earn IQ. With every 50 IQ points, the monkey’s head increases one size. As the IQ increases, the intelligence of the Smol Brains also increases. As a result, the Smol Brain land NFTs will earn one new tech breakthrough.

Legion Legions are players/ participants in Bridgeworld. In general, there are two kinds of Legions available: Genesis Legions (Gen0) and Legions (Gen1). Besides the artwork, the difference is that Gen0 legions will never be inflated.

Overall there are 5 different rarity classes:

  • Ultra Rare: 5 1/1s
  • Rare: 271 All-Class (38 different types)
  • Uncommon: 50 Assassins (5 different types), 60 Spellcaster (6 different types), 60 Sieges (6 different types), 70 Fighter (7 different types), 130 Ranges (13 different types)
  • Special Common: 540 Rivermen (7 different types), 711 Numeraires (8 different types)
  • Common: 1,564 Common Legions (12 different types)
Smol Bodies
  • Smol Bodies is also an experiment in decentralization created by the Smolverse team. Community members have been selected to lead the project alongside Treasure’s development team, and community ideas, feedback, and suggestions will drive development.
Smol Brains Pets
  • Smol Brains Pets were made to accompany Smol Brains. For individuals who are priced out in the Smol Brains collection, Smol Brains Pet is a cute alternative to still engage and participate in the ecosystem.
Treasures
  • Treasures (NFTs) are economic resources shared across the metaverse.
  • Players will be able to use Treasures to craft consumables or burn them for special effects.

Profit Leaderboard

Owner AddressTotal profitSpent (ETH)Revenue (ETH)Collections Bought
SoTiny on OpenSea645.9257.5903.418
jlieberman on OpenSea574.7152.6727.315
Anon5049 on OpenSea338.8106.244512
Yaozers3 on OpenSea326.8174.150113
0x962234.637.0271.613
MisterTodd on OpenSea212.5260.8473.315
fritten on OpenSea204.8150.0354.920
MikeAbundo on OpenSea202.826.0228.918
0xe764177.11.7178.917

Source: Nansen NFT Paradise (as of 5 April 2022)

Building on Arbitrum

Arbitrum is a layer-2 solution designed to improve the capabilities of Ethereum smart contracts.

Our team recently published a report on the future of Arbitrum here.

TLDR: Arbitrum is an Optimistic Rollup and the dominant Ethereum L2 by TVL and developer activity. There are a number of high-quality dApps being built on Arbitrum’s ecosystem, despite the fact that there are no token incentives (yet). Arbitrum has managed to reach multi-billion dollar TVL without these incentives which is a testament to the network effects of Ethereum and the ease of deployment and developer confidence in the Arbitrum L2 network.

TreasureDAO was originally created on the Ethereum Mainnet (L1), and has migrated to Arbitrum. While many L2s exist, Arbitrum was chosen for the following reasons:

  • Lower gas fees: Gas fees on Arbitrum are significantly lower than transacting on the Ethereum Mainnet.
  • Wide adoption: Arbitrum is the dominant Ethereum L2 by TVL and developer activity.

The team also mentioned that as multi-chain becomes more prevalent in the space, it will matter less where Treasure's home base is (e.g: LUNA, MIM, and OHM transitioning to cross-chain).

Transactions and Number of Users

Of the volume processed and unique wallets transacting, the Treasure Marketplace accounted for a volume of 73.5k ETH – 96.8% of the total transactions on Arbitrum One.

User Activity

The number of returning buyers is still relatively volatile (as seen in the chart above).

Since the concept of TreasureDAO and its NFT marketplace on the Arbitrum One chain is still relatively nascent, this might help explain the volatility in returning buyers. However, as TreasureDAO gains mainstream adoption, we can most likely start to see a wave of new demand in returning and first-time buyers. As seen in the chart, the number of first-time buyers and wallet activity per week recently surged in early April.

Transactions on Ethereum vs. Arbitrum

MAGIC: Tokenomics

MAGIC is the “natural” resource of the Treasure metaverse. It acts as the in-game currency - players can earn MAGIC through playing, mining, and participating in Bridgeworld.

MAGIC is also designed to be increasingly scarce (emissions declining as the complexity of the economy increases). Players earn MAGIC through playing, mining, and participating in Bridgeworld. The Treasure ecosystem is therefore governed by MAGIC holders. TreasureDAO aims to create a self-sustaining ecosystem - an actual proof of a work economy. The goal of the ecosystem is to create an economy of assets by which the rarest assets are earned through labor. Moreover, TreasureDAO is trying to go against traditional LP incentives as most farms cater to mercenary farm and dumpers.

Future MAGIC emissions are distributed at the following ratios:

MAGIC emission mimics Bitcoin’s halvening, but this event occurs every year as opposed to every four years. The total supply will be ~350,000,000 tokens.

The high inflation rates, in the beginning, were created to create long-term sustainability within the ecosystem.

With its deflationary mechanisms set in place, MAGIC became increasingly scarce (emissions declining as the complexity of the economy increases). As MAGIC is integral for projects building on the TreasureDAO ecosystem, the demand will only continue to go up, reflected in the price. The mines also function as token sinks to encourage long-term stakers and receive unique rewards.

Certain mines will require users to burn MAGIC to extract assets. Users will also be able to convert consumables into treasures. The process of “summoning” will require a burn of both consumables and MAGIC.

Overall, as the native marketplace grows, this will open up more opportunities to reduce the circulating supply of MAGIC. Token sinks and the buy-and-burn model will serve as a catalyst for long-term growth.

Team (DAO Council)

  1. @jpatten (John) - Founder | Creative Advisor
  2. @gaarping - Founder | Growth | Tokenomics | Partnerships
  3. @Timoraegi (Tei) - Art Director | Narrative | Game Design
  4. @DukePaints - Concept Artist | Imperium
  5. @Mao - Art | Life NFT
  6. @pixel_mat - Art | Smol Brains
  7. @notrealend - Product Lead | Quests | Consumables
  8. @jumpmanft - Marketplace Curation | Life NFT
  9. @sisu Social Media | Marketing
  10. @JustCheese - Front End Developer | UI
  11. @wyze (Neil) - Front End Developer | UI
  12. @T1dev - Solidity Developer

Key Developments

Recently completed/ ongoing for Q1 2022:

  • Launch of TreasureDAO and the first fair NFT ‘governance model’ - only veMAGIC holders and LP can vote where the weight of veMAGIC adjusted based on lock (gMAGIC)
  • First all token standard NFT marketplace on Arbitrum
  • Smol Brain collection launched with 3M MAGIC volume in the first 3 days
  • Several integrations in the works - Life, Smol Bodies, Olympus Odyssey, and Ether Orcs
  • MAGIC LP rewards on Sushiswap Onsen Program
  • MAGIC-gOHM Incentives and Olympus Pro Bonds

Coming soon (Q1 - Q2 2022):

  • Partnerships
  • Expand Treasure Metaverse
  • Bridge Partner Ecosystems
  • Bridgeworld Phase 01
  • Bridgeworld Phase 02
  • Bridgeworld MVP

Alpha leak from TreasureDAO Team:

  • Questing v2 is currently under development. Three test contracts were deployed which represent the first of a series of Bridgeworld releases aimed at addressing many community concerns, and closing all of the economy loops in Bridgeworld.

Actionable Tasks/ Resources

  1. Official TreasureDAO newsletter here
  2. Library by Magnus here
  3. Tools
    • Treasure.tools
  4. Treasure Analytics here
  5. Twitter
    • Smol Street Journal by @Anonn_eth
    • Daily liquidity Report by @VarietyJonezz
  6. Treasure NFT sales

Key Takeaways

Overall, TreasureDAO has achieved many milestones, especially with the growth of its ecosystem and its efforts in onboarding new users into TreasureDAO and the wider Arbitrum ecosystem. With its extensive roadmap ahead and with the anticipated Trove marketplace launch, this could potentially be a significant source of revenue for the DAO. If the team manages to go beyond current expectations in the marketplace and deliver a good product, this will certainly help in attracting more users into their ecosystem. TreasureDAO has taken an exemplary approach in allowing users to have autonomy in their NFTs from a bottom-up, communal standpoint. The team’s dedication to building and maintaining its ecosystem is truly one-of-a-kind, and we are excited to see what the team delivers next.

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Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.