What Is Magnet DAO? Everything You Should Know Before Investing In $MAG

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?

In other words, Magnet DAO is the evolution of the reserve currency protocol. The DAO uses its protocol-controlled value to reward token holders with exceptional yields. At the same time, it uses its treasury reserves to invest in and incubate innovative projects. It also can optimize investors’ expect value and return by investing in, incubating, and growing new projects through the platform and funds.

Unlike first-generation protocol models, their 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.

What Is MAG Token?

$MAG is the native governance token of Magnet DAO, which will be used to govern the DAO. The DAO will have voting power for major protocol decisions and treasury management. It has launched natively on Avalanche (AVAX) and is available for swapping on Trader Joe, will be expanded to cross-chain in the future.

What Are The Features?

• Launching an Advanced Crypto Incubator:

Magnet DAO hails itself as the next evolutionary step of crypto reserve currency protocols. Magnet DAO’s most important distinguishing characteristic is that it uses 10% bond profits for further investment in high-quality crypto assets, this provides a seductive value proposition and potential for exponential returns for Magnet token owners.

• Launching to General Resonance:

Magnet launched natively on Avalanche last year, and $MAG is available for swapping on Trader Joe in early 2022.

• Avoid Scams, Finding a Strong Community Basis:

In terms of native security, Magnet DAO has taken care to build a basis of trust and to assure its community, that is not a rug-pull operation. Moreover, the development team has had to issue notices to inform investors that o legitimate $MAG-LP pools are available in Trader Joe or any other DEXs.

Furthermore, all of Magnet DAO’s protocol wallets require multiple signatures, that is no team member has sole control, third-party advisors, as well as ultimately the community.

How To Get MAG Token?

MAG has been listed on a number of crypto exchanges, but it cannot be directly purchased with fiats money like other main cryptocurrencies.

However, users can still easily buy MAG tokens by buying Bitcoin (or ETH, USDT, BNB) from any exchages, and then transferring to the exchange that offers to trade this coin.

Tokenomic

Price Chart

Key Metrics

• Token Name: Magnet DAO
• Ticker: MAG
• Blockchain: Avalanche (AVAX)
• Token Standard: ARC-20
• Token Contract: 0x1d60109178C48E4A937D8AB71699D8eBb6F7c5dE
• Token Type: Utility, Governance
• Total Supply: 13,094,910
• Circulating Supply: 6,309,224

Token Allocation

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 their Launch & Tokenomics Medium article for more details.

Roadmap

Team, Partners And Investors

Team

Updating

Partners

This partnership will enable some big things for the protocol:

• Secure price data for our minting assets: MIM and AVAX
• Collateralization of $MAG for future DeFi partnerships
• Chainlink price oracles for innovation fund tokens

Investors

Updating

Should You Invest In $MAG Token?

Magnet DAO is the next stage of the tried and tested reserve currency model, their goals lay beyond simple market cap and treasury growth from bonding by Innovation Fund, which helps crypto startups grow from the earliest stages and effectively turns the DAO into an on-chain venture fund.

According to the protocols, all tokens acquired by the DAO are owned by the treasury, creating exponential value and unmatched upside for investors. Moreover, the development team will also explore ways to generate risk-free returns on their stablecoins, in order to turn them into productive assets. It is advantageous for both projects and investors.

In addition, everyone can see that the project has done well following the roadmap and made excellent accomplishments; whereas the development team promised to build further protocols utilizing the MAG token and make it turns into a long-term play.

So if you are looking forward to finding a platform that provides an optimized and convenient way to grow from the earliest stages and effectively turn the DAO into an on-chain venture fund, Magnet Dao is a good choice to invest.

Community

• 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

Conclusion

All information on the article is for reference only, this is not investment advice. Hopefully, the information that Avaxholic has gathered in the article will be useful to you.

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