MAGIC Crypto News: Treasure Proposes Up to 173 Million New MAGIC

On the 4th of November 2026, Treasure posted a proposal to mint up to 173 million new MAGIC. The proposal, called TIP-63, is open for comments until the 18th of November 2026. Voting would then run from the 18th of November to the 2nd of December 2026. ^{[1] [2]}

Treasure said the full amount would raise MAGIC’s total supply by 49.76% before separate staking rewards, from 347,687,043 to 520,687,043. If the proposal is approved, the first 100 million MAGIC would be minted to the Treasure Foundation on the 3rd of February 2027. The other 73 million would be minted only as the new network reaches set goals. In none of its modelled scenarios would burns make up for this new supply. ^[2]

Since Treasure posted the proposal on the evening of the 4th of November 2026, MAGIC has fallen 1.6%, from $0.08382 to $0.08246 on the 5th of November 2026.

1. 1. 16 October 2026. MAGIC Crypto Nearly Doubles as Treasure Readies Its AI Network
2. 2. 4 November 2026. Treasure proposes up to 173 million new MAGIC

MAGIC: daily closes: data table

Date	MAGIC
2026-10-07	0.0650
2026-10-08	0.0648
2026-10-09	0.1236
2026-10-10	0.0997
2026-10-11	0.1293
2026-10-12	0.1207
2026-10-13	0.1242
2026-10-14	0.1076
2026-10-15	0.1086
2026-10-16	0.1113
2026-10-17	0.1089
2026-10-18	0.0971
2026-10-19	0.0962
2026-10-20	0.0962
2026-10-21	0.0978
2026-10-22	0.0904
2026-10-23	0.0887
2026-10-24	0.0872
2026-10-25	0.0820
2026-10-26	0.0807
2026-10-27	0.0833
2026-10-28	0.0842
2026-10-29	0.0794
2026-10-30	0.0816
2026-10-31	0.0825
2026-11-01	0.0806
2026-11-02	0.0777
2026-11-03	0.0800
2026-11-04	0.0853
2026-11-05	0.0825

What we have published before

• We covered “MAGIC Crypto Nearly Doubles as Treasure Readies Its AI Network” on the 16th of October 2026 ^[3].

Since our article of the 16th of October 2026, MAGIC has fallen 25.9%, from $0.1113 to $0.08246 on the 5th of November 2026.

What the token actually does

Under TIP-63, MAGIC would be staked to run the Treasure Network. This is a network of computers, which Treasure calls towers, that run AI agents for their owners. Each tower would stake 200,000 MAGIC and one Legions Genesis NFT. Towers would earn MAGIC rewards and USDC from agent use. ^[2]

Unstaking would take 14 days. Towers that went offline or misbehaved would lose rewards not yet paid out and be removed from the network. Agents would pay for computing in USDC. Creating an agent would burn a flat fee of 20 MAGIC. Treasure said MAGIC would change “from a utility token for onchain games into a network token”. ^[1] How much MAGIC is burned would depend on how much the network is used. ^[2]

The first Legions Genesis NFTs were given away in 2021 as rewards to people who supplied tokens for trading. ^[2]

Performance and holder count

Performance

MAGIC rose 98.8% in the three months to the 5th of November 2026. The wider gaming market fell 9.7% over the same window.

Between the 3rd and the 5th of November 2026, MAGIC rose 3.1% and the wider gaming market fell 3.7%.

On the 5th of November 2026, MAGIC was 98.7% below its all-time high, set on the 19th of February 2022. The wider gaming market was 95.1% below the highest level in our records.

Our wash-trading model rated MAGIC’s trading “some” on the 5th of November 2026, the second of its four risk bands. It flagged MAGIC on 16 of the 27 days it scored.

MAGIC and Gaming Token Index – Composite, day by day: data table

Date	MAGIC	Gaming Token Index – Composite
2026-08-06	100.0	100.0
2026-08-07	99.4	101.4
2026-08-08	103.2	108.5
2026-08-09	100.6	117.4
2026-08-10	100.8	97.2
2026-08-11	97.2	92.0
2026-08-12	96.1	93.0
2026-08-13	95.6	90.1
2026-08-14	98.6	87.4
2026-08-15	99.3	84.4
2026-08-16	99.5	84.4
2026-08-17	97.7	83.4
2026-08-18	96.3	82.1
2026-08-19	100.8	84.6
2026-08-20	103.7	88.4
2026-08-21	110.8	94.8
2026-08-22	110.3	94.6
2026-08-23	110.4	94.6
2026-08-24	107.5	93.7
2026-08-25	108.4	91.9
2026-08-26	107.7	91.8
2026-08-27	110.9	94.0
2026-08-28	108.7	92.7
2026-08-29	111.5	93.1
2026-08-30	114.1	92.9
2026-08-31	109.7	91.6
2026-09-01	107.4	91.3
2026-09-02	103.5	91.2
2026-09-03	108.3	94.6
2026-09-04	108.6	92.5
2026-09-05	111.7	94.4
2026-09-06	112.7	94.4
2026-09-07	112.2	95.7
2026-09-08	111.2	95.6
2026-09-09	110.5	94.4
2026-09-10	105.1	90.8
2026-09-11	104.3	91.5
2026-09-12	106.2	92.5
2026-09-13	109.0	93.8
2026-09-14	107.7	94.2
2026-09-15	101.4	90.2
2026-09-16	99.8	89.6
2026-09-17	104.3	92.8
2026-09-18	109.3	97.8
2026-09-19	111.3	99.6
2026-09-20	113.7	98.9
2026-09-21	119.3	104.9
2026-09-22	122.0	106.6
2026-09-23	117.5	104.1
2026-09-24	119.8	106.6
2026-09-25	121.9	109.8
2026-09-26	122.7	110.3
2026-09-27	132.9	111.8
2026-09-28	125.1	106.7
2026-09-29	123.8	108.3
2026-09-30	127.6	104.4
2026-10-01	133.5	106.2
2026-10-02	139.5	111.8
2026-10-03	138.6	115.7
2026-10-04	147.4	118.6
2026-10-05	151.0	118.6
2026-10-06	161.9	116.0
2026-10-07	156.6	112.8
2026-10-08	156.1	109.1
2026-10-09	298.0	111.2
2026-10-10	240.2	113.4
2026-10-11	311.7	113.6
2026-10-12	290.8	110.6
2026-10-13	299.3	108.3
2026-10-14	259.5	103.9
2026-10-15	261.9	103.9
2026-10-16	268.2	102.6
2026-10-17	262.5	102.2
2026-10-18	234.1	97.0
2026-10-19	232.0	99.4
2026-10-20	231.9	102.4
2026-10-21	235.7	106.5
2026-10-22	217.9	98.0
2026-10-23	213.8	99.1
2026-10-24	210.2	96.3
2026-10-25	197.7	95.1
2026-10-26	194.5	95.1
2026-10-27	200.8	95.9
2026-10-28	202.9	97.1
2026-10-29	191.3	93.5
2026-10-30	196.6	94.6
2026-10-31	198.9	96.2
2026-11-01	194.3	96.6
2026-11-02	187.4	93.4
2026-11-03	192.8	93.8
2026-11-04	205.5	95.2
2026-11-05	198.8	90.3

MAGIC against Gaming Token Index – Composite: data table

Window	MAGIC	Gaming Token Index – Composite
1 year	-25.77%	-61.83%
6 months	+22.15%	-28.68%
3 months	+98.78%	-9.70%
1 month	+22.78%	-22.17%

MAGIC against the biggest movers in its group: data table

Token	Return
MAGIC	-3.3%
D	-96.5%
PDA	-55.0%
SPICE	-27.6%
FP	-24.4%
TYCOON	-23.2%

Holder count

• Holders fell by 3 to 414,045 between the 3rd and the 5th of November 2026, a change of less than 0.1%. From the 1st of September to the 5th of November 2026, the span the chart below covers, they went from 414,757 to 414,045, down 0.2%.

Treasure: holders from the 1st of September to the 5th of November 2026: data table

Date	Treasure
2026-09-01	414,757
2026-09-02	414,745
2026-09-04	414,721
2026-09-05	414,692
2026-09-06	414,657
2026-09-07	414,661
2026-09-08	414,654
2026-09-09	414,624
2026-09-10	414,617
2026-09-11	414,592
2026-09-12	414,594
2026-09-13	414,586
2026-09-14	414,566
2026-09-15	414,545
2026-09-17	414,536
2026-09-18	414,548
2026-09-19	414,550
2026-09-20	414,545
2026-09-23	414,526
2026-09-25	414,481
2026-09-26	414,408
2026-09-27	414,385
2026-09-28	414,373
2026-10-02	414,324
2026-10-03	414,301
2026-10-06	414,285
2026-10-10	414,397
2026-10-11	414,397
2026-10-17	414,345
2026-10-18	414,346
2026-10-21	414,234
2026-10-22	414,199
2026-10-23	414,182
2026-10-24	414,189
2026-10-25	414,185
2026-11-02	414,076
2026-11-03	414,048
2026-11-05	414,045

What people are saying

Journalists

TechFlow, a Chinese crypto news site that also publishes in English, covered the proposal on the 5th of November 2026. It put MAGIC’s current maximum supply at about 348 million. It said whether a project like this lasts comes down to figures such as agent numbers, paid use, fees and burns. ^[5]

Pure narrative pivots no longer have much room for speculation; After all, the industry has seen too many announcements of “pivoting to AI.” ^[5]

TechFlow (Ku Li), the 5th of November 2026

Community

On Treasure’s forum, a member called doggo_32 backed the plan but asked how Legions Genesis NFTs would be used. They asked for one of two changes. Holders could get a short window to donate Legions Genesis NFTs to the treasury, so fewer than 500 new ones are minted, in return for a share of rewards. Or staking a Legions Genesis NFT alone could earn rewards. ^[6]

I’m all for it too, but a little unclear on how gen legions will be used as most people dont have anywhere near 200k magic to stake with them ^[6]

doggo_32 on the Treasure forum, the 5th of November 2026

More on the story

Treasure said the first 100 million MAGIC would pay for the network’s security, development, institutional investment and market making. Each of the ten later mints would be 7.3 million MAGIC. They would be tied to goals such as the network’s launch, 10,000, 50,000 and 100,000 paying agents, and set levels of staking and burning. The Treasure Foundation would confirm when each goal was met and announce each mint in advance. ^[2] The project said the Foundation does not include any current or past contributors in its decision-making. ^[1]

MAGIC: total supply if TIP-63 passes in full: data table

Part	Share
Supply today: 347,687,043	+66.77%
First mint, 3 Feb 2027: 100,000,000	+19.21%
Ten milestone mints: 73,000,000	+14.02%

The plan has a second cost. Staking rewards would add new MAGIC each year, on top of the 173 million. Treasure proposed raising the supply by 5% in the first year, 4% in the second, 3% in the third and 2.5% each year after that. The real rate would move with how much MAGIC is staked. ^[2]

The proposal would also mint 500 new Legions Genesis NFTs for the DAO’s treasury, taking the collection to 3,500. Fifty would go to the Treasure Foundation for staking and could not be resold. Treasure proposed launching the network on the 3rd of March 2027. ^[1]

The same day, Treasure posted a second proposal, TIP-64. It would limit the DAO’s role to new token mints and network settings, such as the inflation rate, fees and staking rules. A later proposal would set the final list. Since 2025, proposals have asked contributors to manage the DAO’s trading pool and market maker positions. TIP-64 would make this a standing duty rather than a vote each year. ^[4]

Treasure said running the network would be its only essential job. Its other work would be cancelled if it did not make money. Smolville would also need an active community to stay. ^[1]

References

1. ↑ (Treasure, in its governance forum proposal TIP-63, the 4th of November 2026) Source
2. ↑ (Treasure on X, the 4th of November 2026) Source
3. ↑ “MAGIC Crypto Nearly Doubles as Treasure Readies Its AI Network” (our own coverage, the 16th of October 2026) Source
4. ↑ (Treasure, in its governance forum proposal TIP-64, the 4th of November 2026) Source
5. ↑ (TechFlow (Ku Li), the 5th of November 2026) Source
6. ↑ (doggo_32 on the Treasure forum, the 5th of November 2026) Source

◆ ◆ ◆