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, Trail of Bits, Zellic, and Guardian Audits.

Magna supports various blockchain networks including Solana, Aptos, 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, employees, the community, and other contributors.

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

Tokens do not have to be deposited all upfront – 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 a demo and 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.

Yes! Magna supports tax withholding and has integrated with Rippling to facilitate a seamless workflow.

Magna supports workflows for airdropping/transferring 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 and access their account using 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 native Gnosis Safe and Squads integrations 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 currently integrated with Fireblocks, and are in the process of integrating with other various custodians. Please reach out if you have any interest in using Magna with Anchorage, Bitgo, or other custodian services.

The most commonly used wallets on our platform include Metamask, Phantom, Solflare, Coinbase Wallet, and Petra (Aptos). On Ethereum, protocol administrators can also use any wallet compatible with WalletConnect, including Gnosis Safe among other wallets. For airdrops and direct transfers, recipients can generally use any wallet 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.