Magnet DAO is a new, innovative project which implements protocol controlled value and deflationary mechanisms in order to create long- standing value for token holders. Magnet DAO is aiming to develop an advanced crypto incubator with a simple goal in mind: to cultivate, incubate and invest in a variety of protocols under the Magnet DAO.
For the average investors, it seems next impossible to invest into project while they are still in their early stage, let alone when they are at the ground level of development. These type of investments are generally restricted to VCs, Angle Investors, and the Founding Team. Magnet DAO conceptualizes a revolutionary approach, in which this gas can be bridged. This first of a kind DAO which will develop and nurture projects in house. Additionally, MAG drive an incubation strategy, helping other early stage projects with growth, marketing, and investment across varity of protocols.
This concept is all possible because of the magnet DAO's protocol of controlled value, and bonding/staking mechanism that Olympus Dao first introduced.
There is no question that DeFi is currently facing oversaturation problems. This is not only evident with OHM fork but is shown to be the case with yield farming, NFTs and newer projects. Thus brings about the question, which project will still be standing in the future when some of these projects inevitably fail whether its due to unsustainability or disinterest. I believe that the solution to these problems converge upon a single word - innovation.
What exactly differentiate MagnetDao from its compititiors? They aims to :
★Invest and incubate smaller projects by allocating 10% of treasury funds as well as assisting with development, marketing etc..
★Implement vesting schedules for bonding( Instead of the traditional bonds for 5 days, investors can opt to bond over a long period for a higher ROI)
★Incentivise Diamond Hand stakers with bonuses
★ Build community trust through audits or any other suggested methods
★ Shy away from the traditional OHM fork launch problems that includes
* Stealth LP pools launches that reward bots and insiders
* Traditional whitelists that force interaction and reward a minimal percentage of users
* Pre- sale with unfair allocations allowing a small number of investors to own most the project
* Rugpulls which will be addressed through audits, multisig contracts, confidential KYCs with trusted auditors, and any other methods that are open to community suggestions
Tokenomics
Name: DAO Magnet
symbol: MAG
Total Starting Supply: 10,000,000
string: Avalanche ( AVAX )
Token Distribution
Magnet DAO had sold 20% of the total initial diluted supply during our community offer. 40% during Fair Launch to strengthen our treasury. 20% of the tokens are reserved for the team (locked and grandfathered), 10% for marketing and partnerships and 10% for initial liquidity provision.
Final Thought
Magnet Dao is taking what can be an incredible invention in DeFi and layering in Dao that is hyped focused on building and incubating early stage protocols. On the top of this team is building a community of people interested in participating in the growth and development of new projects.