Frequently Asked Questions

Token vesting refers to the process where the ownership of cryptocurrency tokens is gradually transferred to an individual's control over time. Vesting helps to align the incentives of the token holders with the long-term success of the project.

Vesting is a legal term that denotes the transfer of legal ownership of tokens from the company to an individual employee or service provider, and usually starts on the first day of employment.‍ An Unlock Schedule usually refers to the transfer of control or transferability of a set of tokens to an individual over time, and usually starts on the first day of a project’s TGE or exchange listing.

Magna’s Solana and Ethereum contracts have been audited by auditing firms including OtterSec, CertiK, and Zellic.

Magna supports various blockchain networks including Solana, Ethereum, Avalanche, Polygon, Arbitrum, BNB Chain, and other EVM chains.

Magna is for protocols that already have a token and are looking to streamline their tracking and distribution, or for pre-token protocols that want to track allocations to investors and contributors.

Magna provides an end-to-end solution for tokens management, from pre-launch to post.

Tokens do not have to be deposited all up-front – the protocol can deposit as many tokens as they’re comfortable with at a time (e.g. if a protocol wants to fund one quarter at a time instead of the full schedule).

If you want to use Magna reach out to our team to schedule an onboarding!

Yes! We’ve yet to find a time-based unlock schedule we can’t support. We also support milestone/event-driven unlocks.

Tokens are in control of the protocol the entire time. Protocols can use Magna’s airdrop functionality to distribute tokens directly from their wallets via our gas-efficient airdrop contracts. Protocols can also deposit tokens into vesting contracts controlled by the client to automatically unlock tokens to recipients.

Magna will support tax withholding starting this summer. Reach out if you want to be an early user of this feature.

Magna supports workflows for airdropping tokens directly to stakeholders, or depositing tokens into a smart contract that recipients can claim from.

Magna is used by many early-stage protocols that want to track their token distribution plan and existing allocations set aside for investors, employees, contributors, and other stakeholders. We are also working on vesting tracking and HR integrations to unify on-chain token incentive plans with HR data.

Stakeholders can be added with an associated email or a wallet address that will allow them to log in.

Protocols can send stakeholders invite links to Magna that allow them to log in with their associated email or wallet address. If they don’t have a wallet, they can log in with email and add a wallet address later. Magna will soon support automatic creation of wallets for stakeholders.

We are currently trialing out supporting projects with minting tokens. Please reach out if you need help with minting!

Magna pricing starts at $100/month for protocols that want to track their allocations. We have also open sourced several tools including an airdrop tokens.

Yes! We have a native Gnosis Safe integration built into Magna. If you’re interested in using other Multisig providers, please reach out!

We are fully compatible with tokens that implement the ERC-20 interface (including standards such as ERC-1363) provided that these functions are not overridden in such a way that breaks the standard functions.

We are in the process of integrating various custodians into Magna. Please reach out if you have any interest in using Magna with Fireblocks, Anchorage, Bitgo, or other custodian services.

Protocol administrators can use any wallet compatible with WalletConnect, including MetaMask, Gnosis Safe, Phantom, and other wallets. Recipients can generally use wallets that supports the token they’re receiving. If they need to claim tokens, they can generally use WalletConnect-compatible wallets that can make contract calls. Since wallet behavior can vary by provider, please reach out if you have specific questions.