Magnet DAO MAG
DescriptionMagnet 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, we use 10% of 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. All tokens acquired by the DAO will be owned by the treasury, creating exponential value and unmatched upside for investors. Magnet DAO holds strong values in transparency, fairness, security, and innovation. From a security standpoint, all contracts in the protocol are MultiSig, and the team has recently engaged Paladin to conduct a full audit for the protocol. From an innovative standpoint, we are developing novel pre-sale and fair launch mechanisms, which bolster the protocol’s treasury and allow the entire community to invest in Magnet DAO in its earliest stages. This concept significantly distributes our network and mitigates any concentrated holders or ‘whales’. As the first reserve currency protocol to introduce the concept of decentralized venture capital, Magnet DAO needed the right team to bring its innovations to fruition. Our developers stem from a wide variety of backgrounds, including crypto venture capital, software engineering, graphic design, marketing, and many more disciplines which lend value to the vision of the protocol. While early-stage investments are a focus, the team plans to have a very hands-on approach: establishing a builder-first mindset in our incubation model, building protocols in-house, and working directly with developers and founders in their project’s earliest stages. This will enable us to provide proper guidance, necessary funding, and a revolutionized approach to the traditional Web 2.0 crypto-accelerator model.