This loop is powered by Biomancer's Familiar, whose static ability reduces the activation cost of Emiel the Blessed down to just a single mana. Because Emiel can blink Swashbuckler Extraordinaire for a mere {1}, every iteration triggers Swashbuckler Extraordinaire to generate a fresh Treasure token. Sacrificing that very same Treasure instantly yields the exact mana needed to pay for the next blink, establishing an endless loop of creature enters-the-battlefield and leaves-the-battlefield triggers.