Okcoin now offers MAGIC, the native token of Treasure DAO. Here’s what MAGIC and Treasure are all about, in simple terms. 🪄
- What? You can now deposit MAGIC on Okcoin.
- Who? All Okcoin customers including those in the United States, except for residents of the EU, the UK, Singapore, and Brunei.
- When? Deposits are live as of April 28. Withdrawals and trading will be live as of April 29. 🔮
What’s Treasure DAO’s MAGIC token?
You’ve heard about “the metaverse” but who owns it? And why should there only be one? Treasure DAO says there should be multiple metaverses, owned by their users, and strung together by a common, decentralized protocol.
Treasure DAO is thus building a decentralized NFT ecosystem on the Arbitrum network where communities can bootstrap new, decentralized metaverses. Each metaverse is bridged together through Treasure’s interrelated resource model that is powered by three resources: MAGIC, Treasures, and Legions.
- MAGIC is the native token of the Treasure DAO and the glue that binds each metaverse together. It’s used to take part in governance, purchase NFTs on the Treasure Marketplace, and stake to earn additional tokens.
- Treasures are NFTs that are used as economic resources shared across the metaverse. Players will be able to use Treasures to craft consumables or burn them for special effects.
- Legions are also NFTs of physical beings (or characters) that are essential to gameplay. They complete tasks, gain experience, and obtain valuable items. You choose their path.
Treasure DAO aims to make MAGIC the reserve currency of the metaverses. MAGIC itself is designed to get scarcer as the complexity of the metaverses’ economy increases. 🚀