Magnet DAO
1. Summary
- Description
-
Magnet DAO: A Cryptocurrency Incubator
Magnet DAO: A Cryptocurrency Incubator
Magnet DAO is a decentralized autonomous organization (DAO) that operates as a cryptocurrency incubator. This platform utilizes its treasury to develop, incubate, and invest in various crypto projects at their early stages. The primary objective is to optimize investors' expected value and return by supporting the growth of innovative protocols and projects through its treasury funds.
Innovation Fund
Magnet DAO has established an Innovation Fund, which dedicates 10% of its treasury and bond profits to invest in high-quality crypto startups. This approach ensures that even if some projects fail, the treasury retains 90% of its value, creating a floor value for the token. The DAO committee decides which projects to fund and how much to invest in them.
Token Details
Magnet DAO uses the Avalanche blockchain and the ARC-20 token standard. Its token, MAG, is a utility and governance token with a total supply of 10,000,000 units.
Governance and Incubation
Magnet DAO aims to create new protocols and ensure a seamless governance system through the development of a native DAO tooling interface. This interface allows all token holders to participate in decision-making processes. The DAO and its core team incubate projects they believe in, increasing their chances of success. This approach strengthens the community network effect as token holders contribute to the growth and recognition of these projects.
In summary, Magnet DAO is designed to support the growth of early-stage crypto projects by investing in and incubating them, while also creating its own protocols.
| Price | |
| 52W High price | $2.08 |
| 52W High date | 4th Jan 2022 (2 years ago) |
| All Time High (ATH) Date | 29th May 2024 (1 month ago) |
| All Time Low (ATL) Date | 29th May 2024 (1 month ago) |
| Supply & Trading Volume | |
| Trading Volume (24h) | $9.00 |
How does Magnet DAO's () performance compare to the median performance for assets of a similar market capitalization?
30 Day Return
%
-11.3%
Similar Market Cap
We're monitoring 3 Magnet DAO GitHub repos for commits, code additions and deletions. This data is factored into the Developer Rank. Because of delays in GitHub's stat processing, recent activity maybe underrepresented.
Weekly Commits (All Magnet DAO Repos)
Commits vs. The Market
- Past 4 weeks: 0 commits vs. an average of 1
- Past 12 weeks: 0 commits vs. an average of 8
- Past year: 0 commits vs. an average of 117
Most Active Repos
| Past week | 12 |
|---|---|
| Past 12 weeks | 12 |
| Past year | 12 |
| Past week | |
|---|---|
| Past 12 weeks | |
| Past year |
| Past week | 0 |
|---|---|
| Past 12 weeks | 0 |
| Past year | 0 |
Top Developers 2024
In total, 2 developers have contributed to Magnet DAO over the past year. Who are the most active Magnet DAO developers, by commits, over the past year?
Related Projects
Developers working on Magnet DAO also worked on these projects.
Tip: Toggle each network by clicking the name above
Historic data is only available from 22nd April 2022
Total Followers
| Reddit Subscribers | |
|---|---|
| Active Reddit Users (past 24h) | |
| Discord users | |
| Active Discord Users | |
| Telegram Users | 1,583 |
| Twitter followers | 16,573 |
No recent news found.
Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:
| Website | https://magnetdao.finance/ |
|---|---|
| Explorer | https://snowtrace.io/token/0x1d60109178c48e4a937d8... |
| @Magnet_DAO |
What is the correct contract address for Magnet DAO?
| Avalanche | 0x1d60109178c48e4a937d8ab71699d8ebb6f7c5de |
|---|
Has Magnet DAO been audited for security?
No security audits found for this project.
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