Revolutionizing
early-stage investing

Magnet DAO is a crypto incubator that uses its treasury to cultivate, incubate, and invest in early-stage crypto projects.
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Overview

Overview

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.

name
Magnet DAO
symbol
MAG
circulating supply
0
chain
Avalanche (AVAX)
token contract
0x1d60109178C48E4A937D8AB71699D8eBb6F7c5dE

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 token iconAVAX token icon

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.

Tokenomics

Tokenomics

Token Supply

At launch, Magnet DAO had a Total Diluted Supply of 10,000,000 $MAG.

Distribution

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.

Pie chart of the tokenomics
Roadmap

Roadmap

Q4 2021

Discord, Twitter, and Telegram Launch

Q4 2021

Team build out

Q4 2021

Form partnerships in the Avalanche ecosystem

Q4 2021

Complete AMAs with prospective projects for incubation fund

Q4 2021

$MAG Community Offering

Q4 2021

$MAG Public Sale

Q4 2021

Engage Paladin to audit all protocol smart contracts

Q1 2022

Launch MAG protocol and liquidity

Q1 2022

CoinGecko and CoinMarketCap Listings

Q1 2022

DAO proposals for Magnet DAO begin - tokenomics, treasury management, innovation fund deployment, etc.

Q1 2022

Receive preliminary audit results from Paladin

Q1 2022

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

Q1 2022

Investment Thesis Call with DAO for Development and Incubation Strategy Outline

Q2 2022

Begin developing, incubating, and funding new protocols using the Innovation Fund

Direction of where to deploy funds will be governed by the DAO

Q2 2022

Begin development of native DAO tooling platform

Q2 2022

Begin development or incubate a novel, liquid-staking solution for stablecoins, native to AVAX

Q2 2022

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

Q3 2022

Integrate native DAO tooling to make management seamless and integrated

Q3 2022

Promote key contributors to leadership positions in the DAO

Q3 2022

License our DAO tooling to other DAO’s looking for a management system

Q3 2022 and Beyond

Continue to develop, incubate, and fund new protocols and get the DAO involved as much as possible in new initiatives

FAQ

FAQ

Yes, we are forking OHM; however; we are implementing a unique strategy for the treasury. We want our protocol controlled value “PCV” to have more depth than simply representing a floor price / treasury for our token. OHM created something incredible with PCV, and we want to take it to the next level.

10% of bonded assets will be directed to an Innovation Fund which will be used to incubate and invest in new, disruptive projects. Magnet DAO will be highly involved, helping ideate projects and helping founders build their projects from the earliest stages. The Innovation Fund will also be used to invest projects that are further along but have yet to launch their token, giving token holders early exposure to projects they otherwise wouldn’t be able to invest in.

Our network effect, community engagement, and synergies will allow us to build and scale projects quickly and efficiently; while providing investors with an unparalleled opportunity to invest in early-stage crypto projects.

The core team & DAO leadership will actively perform due diligence on the projects. We have a robust team, including those with early-stage investing experience, marketing, product management, design and engineering. This will all go into vetting the projects that we consider investing in. Additionally, any use of funds we make from the treasury will be voted on by the DAO (token holders). DAO leadership will present their findings to the rest of the DAO and then hold a vote.

The projects we invest in will likely be later stage, closer to their launch, so those inherently are less risky and we will be able to see community, traction, and product.

For earlier projects that are less proven, we plan on having a very active relationship with those teams, helping them incubate and grow. We even envision ourselves having developers reach out to us telling us that they want to build something, and us providing them with an idea and infrastructure to start. Our team comes from a variety of backgrounds, including crypto venture capital investing, blockchain development, product management, and marketing. Additionally, the DAO will vote and ultimately be the arbiter of any decision made by the Innovation Fund.

The code will be open source and we have a number of community members who will be peer auditing it. We will also get multiple, tier 1 third-party audits for our token contract and our smart contracts prior to launching the protocol. All of our contracts and wallets will be multi-sig, with signatories consisting of core team members, third-party advisors (advisors TBD), and DAO leadership. Liquidity providing will also be locked, and team tokens locked and vested - we will post both contracts so the community can view these easily.

Avalanche.

At first, the focus will likely be around AVAX projects. We are extremely bullish on AVAX and its ecosystem and have gotten some incredible support / partnerships, so naturally we will be very active there. Mid/long-term, we definitely plan on getting involved with other chains.

We have a lot of ideas for how we can add value to the protocol. A few protocol design ideas we have discussed:

- Implement vesting schedules for bonds, where the user can receive a higher ROI if they opt to vest their tokens over a longer period of time (rather than 5 day standard)

- Implement a diamond hands bonus for staking, to incentivize (🧲,🧲)

- Add “zapping” liquidity to our protocol for ease of bonding LP pairs

- Generate yield on our stablecoins. Given the amount of stablecoins we will have in our treasury, we will certainly be exploring how we can best generate return on these assets

- Develop protocols under the Magnet DAO name. We already have various ideas for projects we want to develop, all of which are synergistic to our primary protocol