Magic (MAGIC) Price

MAGIC is a crypto token associated with the Treasure ecosystem and its DAO, not equity in or a revenue claim on a single game. It was initially designed to connect assets within the Treasure ecosystem, liquidity incentives, and community governance arrangements; its specific use cases can change as mechanisms approved by the DAO and application deployments change. MAGIC should not be understood only as a “gaming token”: its issuance, use of funds, and major adjustments have been handled through Treasure Improvement Proposals (TIPs). Therefore, a proposed future use described in a proposal does not mean that use has already been enabled across all products.

MAGIC’s early issuance centered on a fair launch through NFT-staking participation rather than a traditional private-sale allocation. TIP-01 records that the launch assets included Loot, n, Treasures, and AGLD; participants received MAGIC through the Treasure Farm at that time. The project later moved about 88 million MAGIC from Ethereum L1 to Arbitrum through a migration contract. This historical process explains why MAGIC’s early issuance, cross-chain migration, and later liquidity arrangements must be understood using records on different chains; it does not mean that any asset with the same name or any cross-chain version is automatically equivalent.

TIP-01’s original tokenomics framework used approximately 350 million MAGIC as its basis: 33% from the Treasure Farm fair launch, 25% for annually halving “mining,” 17% for staking and liquidity, 15% for the ecosystem fund, and 10% for founders and core contributors. These percentages were the allocation framework at the time and should not be treated as amounts from a pool that were already circulating. Different pools also enter the market by different paths. For example, fair-launch rewards depend on rewards actually produced by the farm at that time; use of the ecosystem fund is constrained by DAO decisions; and contributor allocations carry vesting conditions. Thus, “maximum supply,” “minted,” “unlocked,” and “tradable circulating supply” are different measures and cannot replace one another.

TIP-29 in 2023 was not a new, separate financing-style issuance round; it was a reconciliation and correction of early farm and subsequent minting records. The review found that the early farm overstated actual rewards by forecasting that “everyone would stake continuously,” resulting in a then-calculated maximum supply of about 339,645,510 MAGIC, below the original framework’s 347,714,007. The proposal approved minting 8,068,496.682024080 MAGIC that had not previously been minted, and allocated 2,804,084 and 5,264,413 of it to the ecosystem fund; together with the related TIP-25 reallocation, the added ecosystem-fund portion was handled on a monthly linear schedule from June 2023 to June 2029. It changed the minting and vesting arrangements for previously omitted balances; determining circulating supply at a particular time still requires considering locks, vesting, and wallet-exclusion methodology.

TIP-44 previously set out a Treasure L2 path based on the ZKsync ZK Stack and planned for MAGIC to be the native gas token on the Topaz testnet and mainnet; this explains why asset bridging and application migration were needed at the time. That path can no longer be treated as a description of a currently available network: TreasureDAO began winding down and shutting down that ZKsync network in 2025 and completed the Treasure Chain wrap-up in Q3 2025. A wind-down does not mean MAGIC in an individual wallet was automatically exchanged or burned. The execution scope authorized by TIP-52 included retiring validators and related infrastructure, helping users and protocols bridge remaining assets out, archiving necessary data, and migrating DAO-owned liquidity. Accordingly, the historical arrangement of “using MAGIC to pay Treasure Chain gas” can only explain the design at that time; for current asset networks, bridging paths, or available applications, refer to official products still operating and their specific operating rules.

TIP-43 proposed a migration arrangement for DAO-owned MAGIC/ETH liquidity: of 15,830.25 Sushi LP tokens on Arbitrum, 20% was moved to Ethereum L1 when the proposal passed to establish a Uniswap v3 position, while the remaining 80% was planned to migrate to Magicswap v2 on Treasure Chain when that chain launched; new LP rewards also encouraged other liquidity to migrate. This was a governance arrangement for DAO liquidity and incentives for voluntary LP migration, not a mandatory token swap for all holders, and it would not automatically move MAGIC in an individual wallet to a new chain. Actual LP returns also depend on the pool assets, price range, trading fees, and reward conditions; the 50% or 30% annualized targets given in the TIP were targets calculated from TVL at that time, not guaranteed returns.

The EigenLayer data-availability staking rewards for Treasure Chain or the 0.45% terminal inflation in year 8 in TIP-42 should not be treated as current MAGIC yield and supply rules. TIP-42 originally proposed redirecting part of roughly 10 million MAGIC in remaining Bridgeworld emissions into chain-infrastructure incentives, distributing about 1.56 million per year to MAGIC stakers and ETH LRT restakers; this design depended on Treasure Chain continuing to operate and the related external components being ready. A later organizational restructuring decided to wind down Treasure Chain. The project-direction statement disclosed that TIP-42’s reallocation of roughly 10 million in emissions was revoked and those tokens were transferred to the Treasury. Therefore, TIP-42’s old parameters cannot establish that users can currently stake to obtain those rewards, nor that terminal inflation has already begun. Transfer to the Treasury means the planned infrastructure emissions are no longer distributed by that path; it does not itself mean those tokens are circulating, have been sold, or constitute fixed holder yield.