Magna provides a token management platform that enables companies to automate the distribution and tracking of token equity through on-chain vesting contracts and tax compliance tools. By streamlining cap table management and facilitating secure token transfers, Magna addresses the complexities of token allocation for employees, advisors, and investors in the decentralized finance space.
Funding
$15.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+6Founders
Product
Problem
Companies issuing tokens face challenges in managing and distributing them to stakeholders, including employees, advisors, and investors. This process involves complexities around vesting schedules, tax compliance, and secure on-chain transfers, often requiring manual tracking and increasing operational overhead.
Solution
Magna offers a token management platform designed to automate and streamline the distribution and tracking of token equity. The platform supports on-chain vesting contracts with features like partial deposits and claim portals, enabling secure and transparent token transfers. It also provides tax compliance tools, including US and international employee tax withholding support, and integrates with HRIS systems. Magna's infrastructure supports various vesting schedules, including cliffs, daily vesting, and monthly vesting, and offers employee and investor dashboards for managing token holdings and vesting progress.
Target Audience
Magna targets companies and projects in the Web3 space that issue tokens to employees, advisors, and investors, including DeFi projects, NFT platforms, and blockchain gaming companies.
Features
- On-chain vesting contracts with support for partial deposits
- US and International employee tax withholding support
- White-label claim portals for stakeholders to claim unlocked tokens
- Gas-efficient airdrop infrastructure for bulk distributions
- Magna API to integrate with existing front-ends
- Custom vesting schedules with flexible support for cliffs, daily vesting, and monthly vesting
- Employee & Investor Dashboards to manage token holdings, vesting progress, and signed agreements
- Multi-signature support through integrations with Gnosis Safe and Squads
- Integration with HRIS tools to calculate and withhold taxes on token distributions