Issuing 50% more MAGIC tokens, pivoting to AI and DePIN, the self-rewrite of the old project Treasure DAO

Treasure DAO has proposed TIP-63, a plan to mint up to 173 million new MAGIC tokens—roughly 50% of the current maximum supply of about 348 million—expanding total supply to approximately 521 million and funding a strategic growth pool tied to a new DePIN network and a pivot toward AI agents. Under the proposal, 100 million MAGIC would be minted to the Treasure Foundation on Feb. 3, 2027, while the remaining 73 million unlocks in 7.3 million-token tranches tied to milestones including audits, network launch, node growth, and reaching 10,000, 50,000, and 100,000 active AI agents. The network is targeted to launch March 3, 2027, with governance discussion running to Nov. 18 and voting from Nov. 18 to Dec. 2, alongside 500 Legions Genesis NFTs minted to the DAO treasury and added staking inflation starting near 5% and declining to 2.5% by year four. MAGIC recently traded around $0.084–0.085, with a circulating market cap of about $28–29 million, down roughly 98.7% from its February 2022 peak near $6.30, after Treasure shut its self-built Treasure Chain in 2025 citing about $450,000 in annual costs. The redesign would make MAGIC a network token underpinned by agent-paid stablecoin compute fees, node staking, and buyback-and-burn, with the proposal arguing these flows could offset dilution over time. Whether the pivot succeeds will hinge on observable metrics—agent counts, paid usage, node activity, fee revenue, and burn volume—rather than the AI narrative itself.