Magnet DAO is a cryptocurrency incubator that utilizes its treasury to develop, incubate, and invest in crypto projects in their early stages.
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.
The team has a lot of ideas for how they can add value to the protocol. A few protocol design ideas:
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:
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?
By minting MAG you’re trading your crypto assets for discounted MAG. How to mint $MAG?
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.
Hackathon hosted by Magnet DAO — with special judge and sponsor, Trader Joe. Read more
Community Offering (December 7th, 5:00pm UTC)
Public Sale (December 28th, 5:00 pm UTC)
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.
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.
Governance: governing the DAO. The DAO will have voting power for major protocol decisions and treasury management.
They hit the milestone of over 30k members from Discord and 15k followers on Twitter
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This partnership allows for:
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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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