$CHEST Token & Basic Game Features Overview (1/4)

6 min readMar 10, 2022

What’s $CHEST and Treasure Island?

Chest Finance was the first ever structured products vault to launch on Solana on November 18th, 2021. Since then, Chest v1 has processed over 6 different chests, consistently earning over 10–50% yield for stakers, and processing over $150M+ in volume, without selling any tokens to VCs.

On January 18th, Treasure Island (Chest v2) was born, alongside our first generation of DeFi Pirate NFTs. Treasure Island is the natural evolution from Chest v1, from pure DeFi yield protocol, to GameFi ecosystem, where utility NFTs meet DeFi in the Treasure Island metaverse. Powering the entire ecosystem would be the $CHEST token, the DeFi Sea Council DAO, and gameplay/utility-driven NFT characters and loot. Players will be able to make the Islands their home, go on quests, farm loot, discover hidden treasures, sail the DeFi seas for new land, and engage in PvP battles, all while staking their yield in real DeFi protocols, earning lending APY, and trading across DEXs.

So is it a game or a DeFi protocol?

It’s neither, and both at the same time. It’s a new experience and merger between traditional games and pure DeFi yields. It’s Treasure Island.

Gaming brought us into crypto, and DeFi brought us into finance, and now it’s time for them to work together in harmony. We envision a world where the metaverse, games, NFTs, work hand-in-hand with DeFi. Traditional finance locks users from their own liquidity, while traditional gaming isolates value away from the players. Treasure Island is here to change that. It’s an all encompassing universe for users to earn from real DeFi yield, while experiencing a brand new gaming experience, one powered by NFTs and direct yield generation.

$CHEST Whitepaper

The $CHEST whitepaper will be published into multiple parts, and released in its full length once the last section is published.

$CHEST Token and Basic Game features: The first part is being released under this article and will talk about $CHEST token utility, distribution, and basic gameplay features.
In-Depth Gameplay and Characters: This section will dive into every section of gameplay (from DeFi, to PvP), and detail character traits, and character generation.
DAO governance: This section will elaborate on how the DeFi Sea Council will rule over the Treasure Island metaverse, and how players can participate in reform and policy enacting.
Development and metaverse roadmap: The final section will provide a clear development and metaverse roadmap, with expected feature and gameplay release estimates.

An in-depth guide and wiki will also be released, first to our Discord users, alongside support channels.

$CHEST Token

The $CHEST Token will power the future of Treasure Island. $CHEST is the voting and access token to the DeFi Sea Council, where Pirates and Players can cast their votes, enact change, and reform policies. Owning $CHEST will enable exclusive features in-game, and be a valued commodity in the Treasure Island world.

$CHEST was designed with a community first model. For that reason, no $CHEST has been allocated to VCs in any private round. Instead, they go directly to early supporters, NFT holders, and the wider community.

Total supply: 100bn
48% is reserved for the community, where 12% is reserved for NFT holders who own a gen. 0 DeFi Pirate, vested linearly over a year, and 12% reserved for early staker retroactive airdrops, which is also vested linearly over a year.
24% is reserved for an upcoming community IDO, which is directly unlocked.
24% is reserved for the core team, which is also vested linearly over a year.
0% is reserved for VCs, as is Treasure Island’s commitment to be a metaverse for the people.
The treasury is used for Chest emissions to stakers, makers, and ecosystem expansion plans, as voted by the DAO. 0.5% is currently earmarked for maker emissions up until the IDO, at which point the DAO will vote on future maker emissions.

You will notice the “subject to DAO vote” options. One of the first action items after the IDO will be to hold a vote on what the DAO thinks the Treasury allocation should be, which would affect the rest of the token distribution. The DAO can choose to keep the starting nomics, or one of the 3 other options. If the vote results in a change of nomics distribution, more tokens will be minted to rebalance to the desired distribution.

Details of the upcoming IDO sale will be announced soon in a separate announcement.

Basic Game Features

This section will go over the foundational basic gameplay blocks. This is in no way an exhaustive list, but is what players can expect to see in the first releases.

Tavern

The Tavern is ran by ol’ George. It’s where players can go to find Quest Masters, and or cooldown with a cold beer.

Quest Masters are seasoned sailors and pirates who are well connected in the Treasure Island universe, and have a list of bounties and quests to offer to players. Upon completion, players may be rewarded handsomely. Quest Masters come in and out, some might offer better terms than others.

Ol’ George also offers a Treasure Island home-brewed selection of beers, that may or may not provide players with certain experiences…

Town Hall

The Town Hall is where the DeFi Sea Council meets to vote on proposals, enact changes, and reform policies. Established since the early days of Treasure Island, the Town Hall is a sacred place where the highest level of discourse and decision making can be expected. Players may attend town hall meetings to receive updates on the latest from the Treasure Island verse

Moneylender Hut

The Moneylender Hut, ran by Jack the Stack, is where players can go to either lend their assets and earn passive yield, borrow new tokens, and or stake into riskier structured products offered by different DeFi protocols. While Jack the Stack appears as a single person, it is often rumored that the name actually represent an organization of shadow bankers, and that the person acting as Jack the Stack is but a paid face. If only one day the secret is revealed…

Market

The Market is where players can go to trade, buy and sell their loot. Loot is sold on an open market between players. Loot can include anything from rare gems, to farming tools, to weapons, upgrade crystals, and more. Supply and demand rules!

Shipyard

The Shipyard is where players can go to trade, buy, sell, and or upgrade ships. With a ship, players will be able to sail the DeFi Seas to discover new lands or treasure. Players can also purchase building materials from the Market to construct a ship from scratch.

Exchange House (Coin Master)

The Exchange House, ran by the Coin Master (who’s name is still yet to be known today), is where players can go to swap their tokens on a DEX, and or trade derivatives and other financial instruments.