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- 📢 Gate Square #Creator Campaign Phase 2# is officially live!
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Take part in MBG activities (CandyDrop, Launchpool, or spot trading), and post your screenshots, earnings, or step-by-step tutorials. Content can include profits, beginner-friendl
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Altcoin Company Ends Some Operations: There is a Sharp Plummet in Price! - Coin Bulletin
Treasure DAO announced that it will terminate game operations and the Treasure Chain due to deteriorating financial conditions.
John Patten, the head of the Treasure DAO, announced that they are embarking on a major transformation to ensure the survival of the organization. This transformation will involve simplifying operations, eliminating unnecessary costs, and focusing on just a few major projects.
Patten** stated that they operate with an annual burn rate of 8.3 million dollars and announced that the current treasury is only 2.4 million dollars**. The goal is to reduce these costs with new measures.
Patten stated that with the current resources of the DAO, stablecoins will only last until December, but the withdrawal of $785,000 from Flowdesk could extend this period until February 2026. However, he noted that if the value of the Magic token decreases, the DAO would become "unsustainable between December and February."
Focus: Four products and strategic orientation
Patten announced that Treasure DAO has decided to focus on four main products for its future. These products will be; marketplace, Bridgeworld, Smolworld, and AI agent technology. These projects will form the cornerstones of the DAO's revenue-generating strategy. Patten said, "Treasure will progress only through these four products by 2025."
Significant drop in altcoin price
The price of the MAGIC token managed by Treasure DAO has dropped from $0.111 to $0.077 in the last two days, losing 30% of its value. This development is further complicating the financial situation of the DAO.