Question 1

What is Magna?

Accepted Answer

Magna is a New York-based Web3 digital asset management platform founded in 2022 that provides Carta-equivalent services for the crypto industry. The platform specializes in token vesting and DeFi investment management, helping companies manage cap tables and distribute token equity using audited smart contracts on the blockchain.

Question 2

What products and services does Magna offer?

Accepted Answer

Magna offers a token vesting platform and DeFi investment management services that handle vesting schedules, tax withholding, airdrops, grants, escrow, staking, and custody. The platform automates token unlocks and vesting schedules through audited smart contracts, with the goal of enabling collateralized lending, liquid secondary markets, and other DeFi applications using locked tokens.

Question 3

Who is Magna for?

Accepted Answer

Magna is designed for Web3 companies that need to manage cap tables and distribute token equity to employees, advisors, or investors. The platform serves organizations looking for automated, blockchain-based solutions for token vesting and DeFi investment management.

Question 4

When was Magna founded?

Accepted Answer

Magna was founded in 2022 by Bruno Faviero and Arun Kirubarajan. The company participated in Y Combinator's Winter 2022 batch (W22).

Question 5

Where is Magna headquartered?

Accepted Answer

Magna is based in New York, NY. The company operates with an 18-person team.

Question 6

How much funding has Magna raised?

Accepted Answer

Magna raised a $15M seed round at a $70M valuation led by Tiger Global and Tusk Venture Partners. Additional investors include Shima Capital, Circle Ventures, Solana Ventures, Polygon Ventures, Avalanche Labs, Alchemy Ventures, and Galaxy Digital.

Question 7

What are Magna's key achievements and metrics?

Accepted Answer

Magna achieved $2B in total value locked in smart contracts in 2024, up from $150M in 2023 volume and $500M in transaction volume. The company has grown to an 18-person team since its 2022 founding.

Question 8

What technology does Magna use?

Accepted Answer

Magna uses audited smart contracts on blockchain to automate token unlocks and vesting schedules. The platform's smart contracts allow for cancellation and reclamation of tokens, providing a modular system to launch, manage, and grow tokens with composable building blocks for DeFi applications.

Question 9

How does Magna compare to traditional solutions?

Accepted Answer

Magna is positioned as the Carta equivalent for Web3, bringing traditional cap table management and equity distribution services to the blockchain and cryptocurrency space. The platform modernizes these services for digital assets with automated, blockchain-based solutions.

Question 10

What are Magna's recent developments?

Accepted Answer

In 2024, Magna reached $2B in total value locked, representing significant growth from $150M in 2023 volume and $500M in transaction volume. The company also completed its $15M seed funding round led by Tiger Global and Tusk Venture Partners with participation from major crypto-focused venture firms.

Magna

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Frequently Asked Questions

What is Magna?

What products and services does Magna offer?

Who is Magna for?

When was Magna founded?

Where is Magna headquartered?

How much funding has Magna raised?

What are Magna's key achievements and metrics?

What technology does Magna use?

How does Magna compare to traditional solutions?

What are Magna's recent developments?

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