Discord, Twitter, and Telegram Launch
Magnet DAO is the next evolution of the reserve currency protocol.
Unlike first-generation protocol models, our goals lay beyond simple market cap and treasury growth from bonding. Instead, Magnet DAO has introduced the Innovation Fund: 10% of our treasury and bond profits to invest in high-quality crypto startups, helping them grow from the earliest stages and effectively turning the DAO into an on-chain venture fund. Magnet DAO will also build protocols of its own, with all fee streams benefitting MAG tokenholders. All tokens acquired by the DAO are owned by the treasury, creating exponential value and unmatched upside for investors.
While building a sufficient treasury is vital for a protocol to thrive, its treasury is of equal importance. We are focused on putting our treasury to use and generating returns for investors via building, incubating, and investing in early-stage projects: opportunities that are typically not available to the average investor. Magnet DAO will also be exploring ways to generate risk-free returns on our stablecoins, in order to turn them into productive assets.
For a in-depth view of our vision and the Innovation Fund, you can read more here on our Medium blog.
Magnet DAO ($MAG) is our native governance token which will be used to govern the DAO. The DAO will have voting power for major protocol decisions and treasury management.
MAG has launched natively on Avalanche (AVAX) and is available for swapping on Trader Joe. We plan to expand to cross-chain in the future.
At launch, Magnet DAO had a Total Diluted Supply of 10,000,000 $MAG.
Magnet DAO sold 20% of the Initial Total Diluted Supply during our Community Offering. 40% was sold during our Fair Launch in order to bootstrap our treasury. 20% of tokens are reserved for the team (locked and vested over one year), 10% for marketing & partnerships, and 10% were set aside for initial liquidity providing.
Please refer to our Launch & Tokenomics Medium article for more details.
Team build out
Form partnerships in the Avalanche ecosystem
Complete AMAs with prospective projects for incubation fund
$MAG Community Offering
$MAG Public Sale
Engage Paladin to audit all protocol smart contracts
Launch MAG protocol and liquidity
CoinGecko and CoinMarketCap Listings
DAO proposals for Magnet DAO begin - tokenomics, treasury management, innovation fund deployment, etc.
Receive preliminary audit results from Paladin
Propose various upgrades for the protocol - such as variable-rate ROI for bonding based on length of vesting, adding bonus rewards for diamond hands stakers, “zapping” liquidity for easier bonding
Investment Thesis Call with DAO for Development and Incubation Strategy Outline
Begin developing, incubating, and funding new protocols using the Innovation Fund
Direction of where to deploy funds will be governed by the DAO
Begin development of native DAO tooling platform
Begin development or incubate a novel, liquid-staking solution for stablecoins, native to AVAX
Magnet DAO begins to incubate and invest in projects, helping early-stage crypto projects with building their protocols and providing funding from the innovation fund in return for tokens, which Magnet DAO treasury will receive and hold
Integrate native DAO tooling to make management seamless and integrated
Promote key contributors to leadership positions in the DAO
License our DAO tooling to other DAO’s looking for a management system
Continue to develop, incubate, and fund new protocols and get the DAO involved as much as possible in new initiatives
Meet the Magnet DAO community and get answers to any questions you have.
Join the discussion and receive official announcements and updates.
- Magnet DAO - Specific FAQ
- Olympus DAO - Related FAQ