TIP-29: MAGIC Reconciliation Mint and TIP-25 Token Schedule Assignment

Summary

TIP-29 outlines three proposals for TreasureDAO (“Treasure”): (i) mint tokens identified as being unminted from the genesis event and subsequent minting events following a reconciliation conducted by the council and r3gen Finance teams (financial ops partner selected to produce the DAO report as part of TIP-26 and published here on August 15, 2023); (ii) reallocate the minting balance to the Ecosystem Fund (“Ecofund”); and (iii) assign a vesting schedule to the minted tokens as well as the tokens re-allocated from the Staking/LP fund in line with TIP-25. The reconciliation identified a total of 8,068,497 MAGIC remains unminted which was attributed to an overestimation of the original MAGIC Farm on Ethereum L1 which resulted in a current max total supply of ~339,645,510 instead of 347,714,007 as set forth in the original tokenomics framework.

For more details and the full proposal, please see the governance forum.

Voting Period

Voting commences now, ending Thursday, August 24, 2023 at 7:00 PM UTC ([see local time via timestamp: 1692903300](https://hammertime.cyou/?t= 1692903300)).

Voting Eligibility

Only holders of MAGIC staked in the Harvesters or the TreasureDAO Governance Staking contract, and MAGIC-ETH SLP on Arbitrum can vote.
gMAGIC will be calculated on a 1:1 basis across all options

start

August 21, 2023

6:56 PM

end

August 24, 2023

11:00 PM

Voting

off-chain

Voting type

basic

Voters

1,398

Votes

4,329,685

Final Votes

closed

For

4.3M gMAGIC

99.76%

Against

10.2K gMAGIC

0.24%

Abstain

30.1 gMAGIC

item label

Placeholder title of a dao proposal

DAO name

0x000000000000

Mon 00, 2024 00:00

About Voters Analytics

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Voting

100,000

Voting type

100,000

Starts in

100,000

Voters

1,000,000

Votes

1,000,000

Votes

Choice label

TICKER

100%

Choice label

TICKER

100%

Choice label

TICKER

100%