PANews
PANews|Apr 03, 2025 02:10
Treasure faces restructuring due to deteriorating financial situation, and will terminate game operations and Treasure Chain John, the chief contributor of Treasure DAO, a blockchain gaming ecosystem, announced that due to deteriorating financial conditions and facing restructuring, the game operation and Treasure Chain will be terminated. The document shows that its annual operating expenses are as high as $8.3 million, while the current treasury only has $2.4 million left, which was originally expected to last until July 2025. Faced with survival pressure, DAO has laid off 15 employees and decided to terminate game distribution support and Treasure Chain, and assist partners in migrating to other chains. To extend the funding runway, John proposes to withdraw the idle $785000 from market maker Flowdesk. If approved, the stablecoin balance will increase to $3.2 million, and the operation of Coca Cola will be extended until February 2026. In addition, the ecological fund holds 22.3 million MAGICs (worth $2.3 million), but if the price of MAGICs drops sharply, DAO may struggle to sustain between December this year and February next year.
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