TreasureDAO will shut down its ZKsync-based Treasure Chain on Could 30, almost 5 months after asserting pressing cost-cutting measures and securing short-term emergency powers.
TreasureDAO is pulling the plug on Treasure Chain, its personal community constructed on ZKsync’s layer-2 scaling resolution, by Could 30 after TIP-52 handed, giving the core staff emergency powers to deal with the shutdown with out stopping for extra votes.
In an X thread on Could 6, the TreasureDAO staff urged customers to bridge out all their belongings in addition to non-fungible tokens by the top of Could. The wind-down is a part of a broader pivot to cut back prices and deal with product improvement.
“Bridging to Treasure Chain has been discontinued,” the staff stated, noting that “MAGIC-ETH has been migrated to L1 Ethereum and is now tradable on Uniswap,” whereas “SMOL-MAGIC liquidity migration to L1 is underway.” Regardless of shutting down the chain, the staff reassured it’s in a robust place to proceed its operations as its USDC runway “prolonged via Fall 2026.”
“Treasure is in a robust place, with our USDC runway prolonged via Fall 2026 — excluding a recovering MAGIC treasury. The Treasure Chain wind-down will speed up our product improvement and scale back operational prices, positioning us for the following stage of progress.”
TreasureDAO
Even with the mainnet shutting down, the staff framed the choice not as giving up, however as “a constructive transfer for the org.” The staff additionally added that “retiring the chain is introduced as a necessity, not a selection.”
Nonetheless, the shutdown comes with onerous monetary truths. In inside updates, co-founder John Patten pointed out the DAO’s burn price had turn into unsustainable, with its runway probably drying up by late 2025. Retaining Treasure Chain working value about $450,000 a 12 months — cash the treasury may not justify, particularly with ZKsync grants unlocking slowly over time.
To ease the transition, the proposal lets the staff handle round 3.18 million MAGIC and 138 ETH in DAO-owned liquidity. As TreasureDAO put it, the shutdown is an “emergency measure reflecting the present extraordinary circumstances, not a everlasting change to DAO governance ideas.”
Treasure was amongst early builders on Arbitrum earlier than launching its personal chain on ZKsync. At its peak, it even accounted for greater than 95% of all gaming and NFT transactions on Arbitrum and has generated over $260 million in market quantity since launch, based on data from Nansen.
