Summary

Reallocate Bridgeworld emissions to support Treasure mainnet staking through EigenLayer and EigenDA.

• Reallocate Bridgeworld emissions towards Treasure Chain DA emissions totalling 1.55mil MAGIC per year, with 3 mil MAGIC retained for Bridgeworld v2 (out of approximately 10 mil remaining emissions) and the excess going to the DAO treasury for future infrastructure emissions.
• Scrap the yearly halving schedule and institute terminal inflation beginning in Y8 (in four years).
• Sunset TIP-08 emissions.
• Tentatively cease Bridgeworld v1 operations on August 24 August 26
• Update gMAGIC calculation to account for the future Treasure L2.

This proposal will briefly describe the planned system for Bridgeworld NFTs and the next iteration of Bridgeworld. However, for the purposes of governance clarity, this TIP strictly concerns the emissions policy regarding MAGIC. This proposal is not a referendum on Bridgeworld v2.

Changelog (as of Aug 6 as of 12:12am ET)

The following parameters have changed from the original proposal to Snapshot (edited to be reflected in the proposal and summarized below):

• Moved the target date to tentatively cease Bridgeworld v1 operations and take the snapshot of Bridgeworld assets to be Monday, August 26 instead of on Saturday, August 24. This change will allow the team to be online and active during the week and able to provide support.

  • The date remains tentative and a final date will be announced closer in the coming weeks as this is highly subject to the readiness and coordination of external partners with respect to EigenLayer and EigenDA (eg. launch of their custom quorum feature into production, whitelisting of the MAGIC token and underlying strategy) as well as mainnet readiness. With the transition from one staking solution (Harvesters) to another (EigenLayer), it is important that the window of time between the two options is as short as possible.

  • Given the tentative timeline, in the event there are further unforeseen delays outside of Treasure's control, there may be a need for a subsequent DAO proposal to be considered to maintain Bridgeworld emissions for slightly longer as a stop gap measure. At this time, the Treasure core contributors do not believe this is necessary.

Read Full Proposal

Please click here to read the full TIP-42 proposal.

Voting Eligibility

• The following holders of MAGIC can vote:
  • (A) Stakers in the Harvesters or the TreasureDAO Governance Staking contract, and holders of MAGIC-ETH SLP on Arbitrum One.
  • (B) Holders of all listed Magicswap LP tokens and stakers in Beefy’s mooSushiMAGIC-ETH vault or Balancer’s 50% MAGIC / 50% USDC weighted pool.
• gMAGIC will be calculated on a 1:1 basis in (A) and 0.5 ratio in (B) (50% of MAGIC amount)