A treasure is something "unknown" located on the earth's surface.
A treasure consists of 5 different pieces, one for each color and a player may only claim the one in his/her Primary Color.
This means that it is profitable to team up with players of other colors and make a joint treasure hunt. I.e you get a lot of treasures to pick up in a small area and can have fun together.
The benefits are bigger as more players team up:
A player with a Treasure Finder facility may extract treasures at intervals defined by the facility's level. The treasures are then displayed to all nearby players.
You must get within 80 meters of the treasure to claim it. (it is the center of the parts that counts)
What the treasure contains is unknown until you claim it but a tip is that currently a good way to get Extenders is claiming treasures. (NOTE: Might change in the future.)
A treasure lasts for 24 hours before it disappears.
If the treasure end up in a bad place, you can move it by using the nudge feature if you have a Treasure Finder facility.
This means that the treasure is moved right or left (you select) relative to your position. Note that nudging uses some energy from that facility extending the time before you can extract next treasure.