Magnet (MAG)

Magnet DAO is a crypto incubator that uses its treasury to cultivate, incubate, and invest in early-stage crypto projects. Magnet DAO uses 10% of bond profits to invest and incubate high-quality crypto projects, effectively turning the DAO into an on-chain venture fund. Magnet DAO has strived for transparency, fairness, and innovation since its inception. This includes building novel pre-sale / fair launch mechanisms from scratch in order to bolster the protocol’s treasury and allow the entire community to invest in Magnet in its earliest stages, significantly distributing its network and mitigating any concentrated holders / whales.

Magnet DAO was the first reserve currency protocol to introduce the concept of decentralized venture capital, and it has the right team to execute on this vision. The team stems from backgrounds in crypto venture capital, software engineering, graphic design, marketing, and more. While early-stage investments are a focus, the team plans to have a much more involved approach, establishing a builder-first mindset and an incubation model.

Magnet DAO plans to build protocols which will be owned by the Innovation fund. Magnt DAO also plans to work directly with developers and founders in their earliest stages, providing guidance and funding along the way - reimagining the traditional Web 2.0 accelerator model in crypto.