Review Magnet DAO (MAG) – Promising incubator protocol for early-stage investors in 2022
Magnet DAO is a cryptocurrency incubator that utilizes its treasury to develop, incubate, and invest in crypto projects in their early stages.
What is Magnet DAO (MAG)?
Magnet DAO uses its treasury reserves to invest in and incubate innovative projects. It can optimize investors’ expected value and return by investing in, incubating, and growing new projects through the platform and funds. MAG will also create its own protocols, with all fees going to MAG token holders. The DAO owns all tokens received, providing infinite value and unparalleled upside for investors.
The team has introduced the Innovation Fund: 10% of our treasury and bond profits to invest in high-quality crypto startups. Ensuring that even if some projects fail, 90% of the treasury remains intact, creating a floor value for our token. The DAO committee will oversee the use of the treasury funds set aside for new projects, choosing both the sorts of projects to invest in and the amounts to be given.
Outstanding features
What is the project trying to achieve?
The team has a lot of ideas for how they can add value to the protocol. A few protocol design ideas:
- 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 a 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 number of stablecoins we will have in our treasury, we will certainly be exploring how we can best generate returns 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
What is the unique selling point?
Innovation Fund
Magnet DAO intends to use a portion of this treasury to fund the development of new protocols and to assist and incubate new projects. Magnet DAO’s treasury will therefore have early investment exposure to initiatives, giving unrivaled upside potential for rapid growth. So, even if certain projects fail, 90% of the treasury remains intact, giving a floor value for our token. The DAO committee will decide which projects to fund and how much to fund them. The Magnet DAO team will also incubate these projects to ensure their success, and our community will help grow them.
The first protocol to be developed is a native DAO tooling interface that will be used in conjunction with Magnet DAO. We want our governance system to be as seamless as possible and feel it is essential that we design an intuitive user interface that allows all token holders (DAO members) to have an influence.
Given that the incubation is an innovative, never-before-seen core component of Magnet DAO, a deep dive into the concept is only justified. Magnet owners benefit from the following features of this model:
- Diversified treasury — a small, but important, level of exposure to projects that can yield explosive growth and value creation
- Accessibility to investments that are typically only available to Venture Capitalists and Angel Investors
- Early exposure to new protocols, without the arduous process of searching and filtering through thousands of dead-end projects. The DAO / core team will be building these projects ourselves and helping incubate projects that we believe in, thus increasing the probability of success — all while at the earliest stage of investment
- Community network effect — as we develop and incubate new, innovative protocols, our community of token holders will play a significant role in helping these projects gain recognition, traction, and usage. On top of this, the DAO will aim to work on projects that are highly synergistic. We expect our $MAG token to play a significant role in allowing holders to participate in the growth of upcoming projects as well
Staking $MAG
Staking allows you to earn $MAG passively via auto-compounding. By staking your $MAG with Magnet DAO, you receive sMAG (staked $MAG) in return at a 1:1 ratio. After that, your sMAG balance will increase automatically on every epoch based on the current APY. How to Stake $MAG?
Minting $MAG
By minting MAG you’re trading your crypto assets for discounted MAG. How to mint $MAG?
Paladin Audit
Magnet DAO has officially been onboarded by Paladin Security. Magnet DAO has also undergone several 3rd party audits by anonymous community developers, including members of the Olympians Discord team.
Magnet DAO Invest-a-thon
Hackathon hosted by Magnet DAO — with special judge and sponsor, Trader Joe. Read more
Roadmap
Technical Data
Token Metrics
- Token Name: Magnet DAO
- Ticker: MAG
- Blockchain: Avalanche
- Token Standard: ARC-20
- Contract: 0x1d60109178C48E4A937D8AB71699D8eBb6F7c5dE
- Token Type: Utility, Governance
- Total Supply: 10,000,000
- Circulating Supply: Updating
Token Allocation
Token Sale
Community Offering (December 7th, 5:00pm UTC)
- 2M tokens for sale (20% of initial total supply)
- Sold at a fixed price of $0.80 per token
- Max contribution of $500 per person, which increases to $4,000 over the course of an hour
- Only available to those on the Discord List
Public Sale (December 28th, 5:00 pm UTC)
- 4.0M tokens sold (40% of initial total supply)
- Minimum price of $0.80, maximum price of $2.50
- Max contribution of $25,000 per person
- No whitelist, available to anyone who wanted to participate
- Price was dynamically determined by the amount contributed, with everyone receiving the same price at the conclusion of the sale
- Launch was scheduled to last 48 hours, or until $10 million was raised
- We raised $10 million in 39 minutes, concluding the sale early
- We had over 5000 participants
- 80% of proceeds to Main Treasury, 10% of proceeds to Innovation Fund, and 10% of proceeds for liquidity providing
Protocol Launch
After our public sale, the Magnet DAO protocol will launch on January 2nd, 2022 at 5 pm UTC. At that time liquidity will be added to Trader Joe for purchasing $MAG. As well, minting and staking will be live. Owners of bMAG will see there vesting schedule begin as well. bMAG is an NRT token (Non Transferable Token) which is redeemable 1:1 for MAG after the protocol is launched.
Token Release Schedule
To promote price stability, any MAG sold during our community offering or public sale will vest during the first week of the launch.
Check out this article from the team to have a broader view after the project is launched.
Token Use Case
Governance: governing the DAO. The DAO will have voting power for major protocol decisions and treasury management.
Market and Community
They hit the milestone of over 30k members from Discord and 15k followers on Twitter
Backers
Team
Updating
Partners
This partnership allows for:
- Securing price data for our minting assets: MIM and AVAX
- Collateralization of $MAG for future defi partnerships
- Chainlink price oracles for Innovation tokens
Investors
Updating..
Verdict
Magnet DAO is building a community of individuals committed to the growth and development of new projects. Investors will vote on the investments that the innovation fund should make, it is advantageous for both projects and investors. The project has done well following the roadmap and made amazing accomplishments. They promised to develop further protocols utilizing the MAG token that turns into a long-term play. So let see how it goes.
Find more information about Magnet DAO:
Website: https://magnetdao.finance/
Medium: https://magnetdao.medium.com/
Twitter: https://twitter.com/Magnet_DAO
Telegram: https://t.me/MagnetDAO
Discord: https://discord.com/invite/magnetdao
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Marshall
CoinCu Ventures
Author
DeFi Reviews, DeFi, Knowledge
Review Magnet DAO (MAG) – Promising incubator protocol for early-stage investors in 2022
Magnet DAO is a cryptocurrency incubator that utilizes its treasury to develop, incubate, and invest in crypto projects in their early stages.
What is Magnet DAO (MAG)?
Magnet DAO uses its treasury reserves to invest in and incubate innovative projects. It can optimize investors’ expected value and return by investing in, incubating, and growing new projects through the platform and funds. MAG will also create its own protocols, with all fees going to MAG token holders. The DAO owns all tokens received, providing infinite value and unparalleled upside for investors.
The team has introduced the Innovation Fund: 10% of our treasury and bond profits to invest in high-quality crypto startups. Ensuring that even if some projects fail, 90% of the treasury remains intact, creating a floor value for our token. The DAO committee will oversee the use of the treasury funds set aside for new projects, choosing both the sorts of projects to invest in and the amounts to be given.
Outstanding features
What is the project trying to achieve?
The team has a lot of ideas for how they can add value to the protocol. A few protocol design ideas:
- 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 a 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 number of stablecoins we will have in our treasury, we will certainly be exploring how we can best generate returns 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
What is the unique selling point?
Innovation Fund
Magnet DAO intends to use a portion of this treasury to fund the development of new protocols and to assist and incubate new projects. Magnet DAO’s treasury will therefore have early investment exposure to initiatives, giving unrivaled upside potential for rapid growth. So, even if certain projects fail, 90% of the treasury remains intact, giving a floor value for our token. The DAO committee will decide which projects to fund and how much to fund them. The Magnet DAO team will also incubate these projects to ensure their success, and our community will help grow them.
The first protocol to be developed is a native DAO tooling interface that will be used in conjunction with Magnet DAO. We want our governance system to be as seamless as possible and feel it is essential that we design an intuitive user interface that allows all token holders (DAO members) to have an influence.
Given that the incubation is an innovative, never-before-seen core component of Magnet DAO, a deep dive into the concept is only justified. Magnet owners benefit from the following features of this model:
- Diversified treasury — a small, but important, level of exposure to projects that can yield explosive growth and value creation
- Accessibility to investments that are typically only available to Venture Capitalists and Angel Investors
- Early exposure to new protocols, without the arduous process of searching and filtering through thousands of dead-end projects. The DAO / core team will be building these projects ourselves and helping incubate projects that we believe in, thus increasing the probability of success — all while at the earliest stage of investment
- Community network effect — as we develop and incubate new, innovative protocols, our community of token holders will play a significant role in helping these projects gain recognition, traction, and usage. On top of this, the DAO will aim to work on projects that are highly synergistic. We expect our $MAG token to play a significant role in allowing holders to participate in the growth of upcoming projects as well
Staking $MAG
Staking allows you to earn $MAG passively via auto-compounding. By staking your $MAG with Magnet DAO, you receive sMAG (staked $MAG) in return at a 1:1 ratio. After that, your sMAG balance will increase automatically on every epoch based on the current APY. How to Stake $MAG?
Minting $MAG
By minting MAG you’re trading your crypto assets for discounted MAG. How to mint $MAG?
Paladin Audit
Magnet DAO has officially been onboarded by Paladin Security. Magnet DAO has also undergone several 3rd party audits by anonymous community developers, including members of the Olympians Discord team.
Magnet DAO Invest-a-thon
Hackathon hosted by Magnet DAO — with special judge and sponsor, Trader Joe. Read more
Roadmap
Technical Data
Token Metrics
- Token Name: Magnet DAO
- Ticker: MAG
- Blockchain: Avalanche
- Token Standard: ARC-20
- Contract: 0x1d60109178C48E4A937D8AB71699D8eBb6F7c5dE
- Token Type: Utility, Governance
- Total Supply: 10,000,000
- Circulating Supply: Updating
Token Allocation
Token Sale
Community Offering (December 7th, 5:00pm UTC)
- 2M tokens for sale (20% of initial total supply)
- Sold at a fixed price of $0.80 per token
- Max contribution of $500 per person, which increases to $4,000 over the course of an hour
- Only available to those on the Discord List
Public Sale (December 28th, 5:00 pm UTC)
- 4.0M tokens sold (40% of initial total supply)
- Minimum price of $0.80, maximum price of $2.50
- Max contribution of $25,000 per person
- No whitelist, available to anyone who wanted to participate
- Price was dynamically determined by the amount contributed, with everyone receiving the same price at the conclusion of the sale
- Launch was scheduled to last 48 hours, or until $10 million was raised
- We raised $10 million in 39 minutes, concluding the sale early
- We had over 5000 participants
- 80% of proceeds to Main Treasury, 10% of proceeds to Innovation Fund, and 10% of proceeds for liquidity providing
Protocol Launch
After our public sale, the Magnet DAO protocol will launch on January 2nd, 2022 at 5 pm UTC. At that time liquidity will be added to Trader Joe for purchasing $MAG. As well, minting and staking will be live. Owners of bMAG will see there vesting schedule begin as well. bMAG is an NRT token (Non Transferable Token) which is redeemable 1:1 for MAG after the protocol is launched.
Token Release Schedule
To promote price stability, any MAG sold during our community offering or public sale will vest during the first week of the launch.
Check out this article from the team to have a broader view after the project is launched.
Token Use Case
Governance: governing the DAO. The DAO will have voting power for major protocol decisions and treasury management.
Market and Community
They hit the milestone of over 30k members from Discord and 15k followers on Twitter
Backers
Team
Updating
Partners
This partnership allows for:
- Securing price data for our minting assets: MIM and AVAX
- Collateralization of $MAG for future defi partnerships
- Chainlink price oracles for Innovation tokens
Investors
Updating..
Verdict
Magnet DAO is building a community of individuals committed to the growth and development of new projects. Investors will vote on the investments that the innovation fund should make, it is advantageous for both projects and investors. The project has done well following the roadmap and made amazing accomplishments. They promised to develop further protocols utilizing the MAG token that turns into a long-term play. So let see how it goes.
Find more information about Magnet DAO:
Website: https://magnetdao.finance/
Medium: https://magnetdao.medium.com/
Twitter: https://twitter.com/Magnet_DAO
Telegram: https://t.me/MagnetDAO
Discord: https://discord.com/invite/magnetdao
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Marshall
CoinCu Ventures
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