The game mode would start pretty much exactly like king of the hill with the treasure suspended by a balloon and all the ships rushing to grab it. The initial grab of the treasure using the same mechanics as capturing a point aka doesn't work if enemy have ships sitting there. After grabbing the treasure though the game would change drastically as the ship that captured the point would now have the treasure on board and start earning points for their team.
for the other team to get the treasure now all they have to do is kill the ship that is carrying it and it will be given to the ship that scored the kill.
the point of this game mode would be that it is much more mobile and faster paced than king of the hill and just plays differently from death match.
"Well how would you stop the ship with the treasure from just running away and hiding in a cave till the match is over?" i hear some critics already thinking
. EASY! Just make it so the treasure always shows up on the map like a green dot or something, so that way a ship carrying the treasure will also show up as a green dot so the opposing team knows where he is regardless of whether they are spotted or not. Going one step further when the ship with the treasure is spotted the box showing them could be green to distinguish them from their allies so you don't get confused if all the ships on the enemy team are junkers or something.
"whats to stop them from running to their spawn point and just camping?":
Hmm that ones a little harder, the best way would be to just make it so both sides can spawn along the outside of the map so the going to the point where your allies spawn also puts you closer to where enemies spawn. That way the place that is farthest from the enemy spawn points would be the center but that also means they can come at you from any direction.
"wouldn't squids just be able to outrun everything thus keeping the treasure out of reach of the opposition?"
Geeze i guess so
... IF YOUR GUNNERS SUCK! yes the squid is the fastest and most maneuverable of all the ships but I'm thinking of this game type being on the smaller or more open maps like labyrinth or scrap heap leaving squids with only so far to run and since you have to kill the ship to get the treasure a tanky galleon would also be a nasty ship to have to wrestle the treasure from as well.
I know my idea is not perfect but thought id throw it on here for opinions and just brain storming purposes.