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Governance Process

Treasure DAO Improvement Proposals (“TIP”) can be submitted via our Treasure DAO Governance Forum to gauge interest and spark healthy conversation. Discussion can be continued in our dedicated channel in our Discord entitled #governance-chat.

If positive feedback is reached during the initial temperature check phase and sufficient community engagement has been achieved, proposals are moved to formal Snapshot voting which will ratify proposals for implementation by the DAO.

Typically, voting lasts 24-48 hours but may be longer depending on the proposal.

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Who can vote on governance proposals?

Only holders of gMAGIC are granted voting power to vote in the Snapshot phase.

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What is gMAGIC?

Governance MAGIC (or “gMAGIC”) introduces concepts from the veCRV model where governance rights are weighted towards community members who commit and support the longer term success of the DAO.

gMAGIC is derived from the following:

• (A) Stakers in the Bridgeworld Harvesters or the TreasureDAO Governance Staking contract, and holders of MAGIC-ETH SLP on Sushiswap 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 automatically adjusts for new positions in each of the above methods. gMAGIC is calculated on a 1:1 basis in (A) and 0.5 ratio in (B) (50% of MAGIC amount) which governs your voting power during the Snapshot phase.

Liquid MAGIC (e.g. unstaked or uncommited MAGIC) does NOT count towards governance.

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Snapshot Voting

To participate in voting, you’ll need to connect your wallet to our Snapshot and your gMAGIC holdings will automatically appear. You must be connected to the Arbitrum network.

The TIP will be ratified when quorum is reached with a greater than or equal to 75% vote ‘FOR’ in the Snapshot vote.

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DAO Treasury & Multisigs

Please refer to the multisigs repository on the Treasure GitHub for an up-to-date list of all DAO-owned multisigs: https://github.com/TreasureProject/public-resources

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DAO Reporting

As part of TIP-26, the Treasure council has committed to providing the TreasureDAO community with quarterly reports that cover the state of DAO operations and financials while also providing greater visibility into high-level roadmap and key initiatives that the core contributor team are undertaking.

Reports will be published on a recurring basis within forty-five (45) days after the end of each quarter. In these reports, the following details will be provided:

• Current DAO treasury balance reported by tokens held and amount;
• Revenue generated through the marketplace, first-party games, Magicswap, and other revenue streams;
• Details pertaining to any conversion of MAGIC from revenue through the self-funding treasury management initiative in partnership with Flowdesk; and
• Summary of operational expenses and other business costs (payroll, partnerships, technology, legal expenses, etc.).