Tortola, British Virgin Islands–(Vehement Media. – January 11, 2022) – Announcing GamesPad, a new crypto gaming ecosystem aimed at solving some of the biggest problems in the GameFi space. It’s a next-generation platform that sits at the convergence point of NFTs, gaming, and metaverse development. And it includes a support system aimed at helping game developers address some of the key challenges they face in building new play-to-earn games. In short, it’s nothing less than a gaming incubator that will supercharge the growth of the GameFi sector once it’s fully up and running.

For much of the past year, there’s been no hotter part of the cryptocurrency market than GameFi. It is powering exponential growth in crypto gaming with daily average players growing from 88,000 at the beginning of April to an astounding 1.33 million by the end of October. And those players now generate around $544 million in game-related transactions every day, demonstrating the value proposition of the industry as a whole.

But with rapid expansion came some growing pains. The sector has attracted its fair share of scams, as has every hot area of crypto development before it. And with so many developers looking to create innovative new play-to-earn games, it’s not at all easy for them to find the financial and technical backing they need to succeed.

GamesPad addresses these problems in a few ways. First, it includes a rigorous due diligence process that vets all participating developers to weed out potential scams. Then it gives developers access to a decentralized VC system to raise the funds needed to get new game projects off the ground. And once that happens, it also provides mentorship and instruction to help new developers set up their game studio and run it like an established professional.

Launching new games isn’t GamesPad’s only purpose, however. It’s also built to democratize investor access to these lucrative new GameFi projects. That’s a mission that’s central to the GamesPad concept, as its co-founders believe that funding for new games should be just as decentralized as the infrastructure they depend upon. The platform makes that possible by offering retail investors the opportunity to put their money behind promising new games on an equal footing with traditional VCs and institutional investors.

To support both game developers and investors, GamesPad also includes an NFT marketplace and aggregator service. Its purpose is to provide NFT creators and buyers with unprecedented market visibility at all times. To accomplish that, it will collect real-time data and provide visualizations to aid buyers in understanding the broader trends of the overall NFT market. They can use that information to better plan their NFT purchasing and investment strategies, all without leaving the GamesPad platform.

And although getting all of those aspects of the planned GamesPad platform up and running is no simple task, GamesPad is assembling an impressive array of backers to help it along. So far those backers include well-known investors like:

● Alameda Research

● Animoca Brands

● Spark Digital Capital

● Anti Fund

● Polygon

● Yield Guild Games SEA

● Infinity Ventures Capital

● AU21

● Sanctor Capital Fund

● TPS Capital

● Cryptology

● Double Peak Group Limited

● GD10 Capital Holdings Limited

● Shima Capital

● Rikkei Capital Inc

● Genblock Capital

● Kenetic Capital

Together, they bring a wealth of experience both inside and outside the crypto industry, helping to ensure that GamesPad will succeed in its stated mission. And given the fact that GamesPad’s mission is central to the continued rise of the GameFi space as a whole, it’s one that the industry is quite eager to get behind.

And that mission is to become the go-to one-stop shop for GameFi developers and investors to connect with one another. In the months to come, GamesPad expects to begin rolling out many of the major features of its platform in accordance with its current roadmap. And according to GamesPad co-founder Eran Elhanani, the project expects to announce an upcoming IDO which will take place before Christmas 2021.

By that time, the platform also expects to have already begun launching deals for investors to participate in. Simultaneously, the platform will also open up for inquiries by developers seeking to add their projects to the GamesPad ecosystem. Successful projects will join a slate of in-house development projects, which should begin to appear in the first quarter of 2022.

Media contact:
Company: GamesPad
Email: marketing@gamespad.io
Website: https://gamespad.io/

Maya Cove, British Virgin Islands–(Vehement Media. – January 11, 2022) – Kryxivia, a blockchain-based MMORPG, immerses players in a world where a mine containing artifacts of an ancient civilization promises power and influence to whoever finds them. But those artifacts offer more than in-game buffs and power-ups. They – along with every other asset in the game – are NFTs. That means players can buy, sell, and trade them at will, feeding a vibrant in-game economy. Through NFTs the game gives players real ownership of their in-game assets.

When the game launches, the primary goal of the world’s inhabitants will be to find and extract as many of the mine’s artifacts as possible. Players can explore the mine in parties of up to four, with the difficulty scaling up as their party size increases. And successful mining means advancing in the game.

That’s because the artifacts serve as the game’s leveling system, allowing the players that find them to power up their characters based on the effects of each artifact. And players also have the option of upgrading artifacts as they see fit, unlocking their potential in a world with limitless possibilities.

Kryxivia is no utopia for adventurers, though. That’s because its developers plan to introduce a PvP system that will let players compete with one another, risking their artifacts and the in-game currency known as KXS. Once that happens, the world of Kryxivia won’t be nearly as peaceful as it once was.

The KXA and KXS Tokens

Since the world of Kryxivia revolves around collecting NFT artifacts, it’s more than just a game. It’s also an opportunity for players to earn real money. And to support the in-game economy, Kryxivia relies on two native tokens available on the Binance Smart Chain. The first, called the Kryxivia Coin Token (KXA) facilitates the on-chain payments for game items like starter packs and special NFT sales. It’s also how players can purchase the in-game currency, called the Kryxivia Shard Coin (KXS).

KXS is how players pay for the things they need inside the game world. They can, for example, spend KXS to upgrade their artifacts or buy potions from the NPCs in the game. Or, they can sacrifice it to link their items to Kryxit gems, which power their magical properties. And eventually, players will also have the ability to stake their KXS at the in-game bank, earning solid returns for their character.

That mechanic plays an outsize role in the game’s economy because players can spend their KXS to upgrade their NFT items. And as they do, the value of those items increases, creating the possibility for profit when selling them in the game’s marketplace. Successful players can leverage their rare items and hard in-game work into real money by selling them for KXA – turning their gameplay into an income source.

Major Upcoming Developments

Right now, Kryxivia is still in its infancy. But the developers are making steady progress toward its launch. Before the end of the year, they expect to hold a public sale of the KXA token to build the liquidity and funding needed to support the game. And afterward, KXA will see a public listing on CoinMarketCap and CoinGecko, allowing community members to more readily track its price.

But the biggest developments will happen in the year to come. In the first quarter of 2022, the WebGL-based game should be complete, allowing it to launch into pre-Alpha access for a select few players. And that’s also when the in-game marketplace should be ready for launch, allowing for the on-chain trading of in-game items.

If all goes well, Kryxivia will proceed into beta by the second quarter, beginning a flurry of work to build out its remaining functionality. From there, the world of Kryxivia should be ready for an influx of players, all competing for wealth and power – both inside and outside of the game. And when that happens, Kryxivia will have proven that its blend of NFT game assets and innovative web-based gameplay is the future of blockchain gaming. For the developers and inhabitants of the game’s world, the sky’s the limit from there.

Medium | Telegram | Discord | Twitter

Media details
Company: Kryxivia
Email: info@kryxivia.io
Website: https://kryxivia.io/

Bengaluru, India–(Vehement Media. – January 10, 2022) – EasyFi, a multi-chain lending protocol for digital assets, partners with WarirX to provide users with accelerated liquidity development in a fast and cost-effective manner.

EasyFi was mainly created for decentralized finance (DeFi), focusing on scalability, adoption, and composability. In addition to multi-chain, EasyFi also runs on friendly layer two networks and has an inbuilt gasless meta transaction system.

The platform by design runs on public networks to facilitate end-to-end lending and borrowing of digital assets and related financial products. EasyFi is currently available on Polygon, Ethereum, and Binance Smart Chain (BSC). Notably, the cross-chain framework of EasyFi makes it easy for users to borrow and lend across a spectrum of the global market, including permissionless public networks. In addition, through cross-chain bridge contracts, the platform allows users to execute a ray of operations in a non-custodial manner.

EasyFi offers users more ways of lending by providing access to dynamically curated money markets that consist of multiple collateral assets. The platform primarily offers collateralized lending to users and will eventually include staked derivatives assets and non-conventional assets in the future. EasyFi also aims to offer uncollateralized lending and undercollateralized lending. This is in addition to attractive yields with multiple farming & staking opportunities that enable its users to choose and earn rewards on assets of their choice.

EasyFi platform will allow liquidity providers and lenders to choose which borrowers they want to offer a line of credit. This process is facilitated by TrustScore, which runs on proprietary algorithms, allowing the Liquid providers and lenders to evaluate borrowers’ creditworthiness. The platform will also offer structured financial products such as Credit Default Swaps (CDS) that will bring insurance to DeFi. This product will convert high-value loans into tradable instruments, making it possible to mitigate risks, premium yield, and liquidity in financial markets.

The platform has a native token, $EZ, created for numerous vital functions, including governance, staking rewards, protocol incentives, and cross-chain settlement.

Unlike similar projects in the market, EasyFi has gone out of its way to give more to its users. The platform has a dual yield farming system that allows the platform to form strategic partnerships. Through these partnerships, users are rewarded with both the EZ token and the native token of the project in question.

Media Contact

Name- Priyanka Sharma & Devashri Kulwal
Company- WazirX
Email- priyanka@wazirx.com
Telegram- WazirX
Twitter- WazirX
LinkedIn- WazirX

PR Contact

Name- Samiran Mondal
Company-News Coverage Agency
Email- samiranmondal@newscoverage.agency

Telegram- Samiran Mondal

Bangalore, India–(Vehement Media. – January 10, 2022) – Nord Finance launches Nord NFT Loans, a P2P NFT collateralized lending and borrowing product on their DeFi platform.

Artists make the world a beautiful and enjoyable place with their creativity. Due to the flawed nature of internet 2.0, artists are unable to get a hold of their digital art and are often not rewarded for their creations. Web 3.0 has opened up the door for every artist to claim their digital creation and monetize it using NFT. Now, Artists can create their art and put it on the best Web 3.0 platforms and get attention from art buyers across the globe. Both Experienced and Novice artists are getting an equal opportunity to achieve their financial goals with their digital creation.

NFT holders’ wealth is tied up to their NFT assets. If they find a new buying opportunity for NFTs or Crypto assets then they need to sell their NFTs in bad market conditions or at a discount to grab the new opportunity. The majority of NFT investors would like to hold their assets for a long time and let them appreciate. NFT holders can benefit greatly if they can collateralize NFTs like real assets to get credit to be utilized for investment, personal, or business purposes.

Nord Finance has launched a new product for artists and art collectors to monetize their NFTs using the Nord NFT Loans. Nord NFT Loans is a P2P Lending and Borrowing product to help artists and art collectors receive money against their pledged NFT. In addition, Nord NFT Loans is a place for investors to earn attractive interest by lending the NFT collateralized money to another individual.

Borrow on Nord NFT Loans:

NFTs owners can pledge their NFTs as collateral and get a loan against them. They can use the money for their personal and business needs.

If they decide to borrow money against their NFT, their NFT will be locked in a Smart Contract, and they will get credits in their account.

Lend on Nord NFT Loans:

Lenders can give money to the NFT holders and earn decent interest against the given credit.

If they decide to lend the money against NFT, NFT will be locked in a Smart Contract, and their account gets debited to transfer credits to the borrower’s account. If the borrower is unable to repay in a mutually decided timeframe the NFT will be transferred to the lender’s account. The underlying pledged asset can help lenders cover their money against any unseen default event.

“We believe the increasing interest of NFTs among individuals, Artists and Art collectors, influencers, celebrities, brands and HNI will only propel the growth of the NFT industry in coming years. We’re at the forefront of the NFT industry’s growth with Nord NFT Loans. We will facilitate P2P NFT collateralized Loans to help NFT holders to utilize NFTs like real assets”.

Co-Founder and CEO Amarnath Reddy

According to the latest report from the Financial Times, the NFT market reached $40 billion in 2021. The NFT adoption will only increase in the upcoming years with more acceptance. Nord Finance is eyeing at rapidly growing NFT industry with the Nord NFT Loans.

Website:
https://nordfinance.io/

Twitter:
https://twitter.com/Nord_Finance

Media Contact:
contact@nordfinance.io

About Nord Finance

Nord Finance is an advanced decentralized financial ecosystem designed to simplify Defi investing by bringing key features of traditional finance to the DeFi ecosystem.

Nord Finance is built on Ethereum Network. Multichain interoperability of Nord Finance powers a plethora of financial primitives, which constitute savings, advisory, loans against crypto assets, Investment and Fund management.

Nord Finance is creating innovative ways for everyone to generate wealth with Blockchain Technology.

Bengaluru, Karnataka–(Vehement Media. – January 8, 2022) – MetaLaunch is thrilled to announce a $3M fund for the emerging metaverse and gaming industries.

The world’s first multi-chain metaverse launchpad and accelerator, Metalaunch fuels metaverse and gaming start-ups with advanced strategic and fundraising frameworks. The latest fund further enables the innovation and development plan by making research-backed early investments.

Investing in the internet economy of tomorrow

Since the beginning of 2021, there’s been an increasing growth in the metaverse and gaming industry that offers players real rewards. These games allow players to own assets they purchase and unlock a whole new level of immersive gaming experiences.

The recent developments in the metaverse give a glimpse of the industry’s future, dominated by blockchain games. The investment decision solidifies our desire to push metaverse-focused and NFT-based gaming projects to new levels.

MetaLaunch will offer financial strength to ambitious projects so that they can innovate without barriers and make their ideas a reality. MetaLaunch’s support won’t be limited to just funding incentives. Incubated projects will also receive advisory assistance from our partnership with top VC firms and industry leaders. 

Apart from our accelerator and incubator programs, MetaLaunch also supports projects Public sale token offering. Moreover, metaverse projects can launch initial NFT sales and auctions of virtual lands and gaming assets through MetaLaunch’s metaverse marketplace. MetaLaunch also promises more incentives for projects and communities through a MetaFi ecosystem.

MetaLaunch’s native venture firm Asva Ventures and additional partnerships with other VC firms like Dutch Crypto Investors, BlackDragon, Excalibur Capital, R8 Capital, and other top VC firms will be instrumental in providing the needed network and exposure for incubated projects.

Apply for Funding

Please fill out the application form and the Asva team will contact you with further details.

For inquiries, please contact: contact@metalaunch.io

About MetaLaunch ($ASVA)

MetaLaunch, powered by Asva Labs, is the first-ever multi-chain metaverse launchpad and accelerator. It delivers strategic fundraising and growth frameworks to fuel virtual world and gaming economies. The Asvaverse ecosystem also features MetaFi Defi use cases, metaverse marketplace, and play-to-earn guild integrations. The suite of MetaFi applications maximizes the productivity of virtual ownership assets.

Contact MetaLaunch
Website:http://metalaunch.io
Twitter:https://twitter.com/Metalaunch_io
Website: https://asvalabs.com/
Telegram: https://t.me/AsvaLabsOfficial
Medium: https://asvalabs.medium.com/
Media Contact: pr@metalaunch.io

Since the launch of Monaco Planet, the project has gone on to attain new highs and is setting the template for practical applications of Web3 in social media

Hong Kong, China–(Vehement Media. – January 7, 2022) – Monaco Planet has surpassed the milestones set for its decentralized social media platform since its launch on November 28, 2021, amassing over 60,000 users in just three weeks. Monaco Planet employs a “write-to-earn” model enabled by the use of blockchain technology. According to official reports, the number of NFT assets currently displayed by Monaco Planet users exceeds 400,000, with a total value of $100 million.

Monaco Planet rewards users for writing and engaging on its social platform, bringing a fresh perspective to the concept of social media. With the advent of web 3.0, Monaco’s “write-to-earn” approach appears to be the right way to build the next generation of social media platforms. The world has seen how blockchain technology has transformed the gaming industry, and Monaco Planet plans to replicate this success in the social media industry.

Furthermore, Monaco Planet is supported by its utility token, $MONA, which is currently ranked among the top ten altcoins on Pancakeswap, the largest DEX on Binance Smart Chain. Monaco Planet’s growth has resulted in their top user earning up to $19,000 in rewards. Furthermore, Monaco Planet offers additional benefits such as a seamless wallet address login to avoid dubious draws during its lottery. Users on Monaco can initiate a lottery and pledge their NFTs directly. Monaco Planet went live on January 1st, allowing the general public to begin earning rewards through content mining. Monaco also uses an active user form of governance, embracing the concept of decentralization by allowing users to direct the future operations of the Monaco planet.

Monaco’s primary goal is to return control of social media to users through decentralization, and the country has begun to take significant steps toward that goal, with the current top-ranking user having an NFT worth of over $3.5 million.

Website: https://monaconft.io/

Discord: https://discord.gg/monacoplanet

Email: Monacoplanet@monaconft.io

Singapore, Singapore–(Vehement Media. – January 6, 2022) –  Tiger King Coin launched in May of 2021 as a token dedicated to a love of Tigers. The cultural impact of Tigers entertains us – from Tony the Tiger to Eye of the Tiger. As stated by the coin’s leadership team, “When we see their deadly elegance in the wild, it drives home the importance of their conservation.”

Along the way, the team found an opportunity to raise awareness by partnering with Joe Exotic, the subject of Netflix’s breakout smash hit docuseries “Tiger King”, who endorsed the coin. As a result of this charitable effort, the team and community raised over $325,000 for needed legal and medical expenses for Joe. Having achieved that goal, the team returned to its original mandate, renewing its focus on supporting tiger-related charities.

Tiger King Coin has also donated to members of the community affected by the California wildfires, to a farm in Florida that provides animal interactions for developmentally disabled children, as well as building a Raptor Rehabilitation House for injured birds of prey at a wildlife rescue organization in Australia.

As the Chinese Year of the Tiger approaches, deep involvement by the community now leads the movement to clarify the mission and roadmap into 2022. That path incorporates tiger charities, creative outlets for community involvement, and building a global brand. To manifest these goals, the team has partnered with Luna PR. A new coin logo, website relaunch, brand new $TKING token staking program, a regular schedule of charitable initiatives, and a push for listing on major Tier 1 exchanges will usher in the worldwide branding push focused on Tigers.

Beyond the Rebrand

One of the immediate results of this effort will be a charity-friendly brand that fosters endorsements and direct involvement by real celebrities. As these efforts gain traction and the token price reflects the renewed energy, both the community and the coin’s ecosystem will have more resources available to amplify the charitable initiatives. To begin this, Tiger King recently donated 500 tiger plushies to St Jude Children’s Research Hospital. While other tokens have embraced utility as a portion of their mission, few have been as effective as what has already been accomplished by the Tiger King community.

Over the coming year, the management team will expand marketing to Asian countries (Korea, Japan, China, Hong Kong, Taiwan, Singapore, India, Malaysia, Thailand, Vietnam, Indonesia, the Philippines, etc.). In addition to the charitable utility, development efforts continue on the team’s groundbreaking decentralized applications, including a blockchain communicator / NFT marketplace application and the widely anticipated augmented reality mobile game.

The facelift of Tiger King is not just a brand change. The project has a new vision and approach while keeping roots grounded in its original mission.

Stay tuned on Tiger King updates via website, Telegram and Twitter

Media Contact:
Tiger King
marketing@tiger-king.org

Victoria Mahe, Seychelles–(Vehement Media. – January 5, 2022) – XT.COM Exchange introduces XTStarter Platform with $5 million worth of subscriptions up for grabs. 2021 has been a year of meteoric growth for most major cryptocurrencies, with almost every major asset now heavily in the green when measured YTD.

But without a doubt, the vast majority of this year’s best-performing cryptocurrencies launched following an initial DEX offering (IDO) – a type of fundraising format typically employed by decentralized exchanges (DEXs) and launchpads.

XT.COM exchange has its own launchpad which has successfully helped Casper win a big fund.

On the occasion of the new year, to enable users accessibility to new tokens with more profit while continuing to strengthen the XT system, XT.COM will usher in a new era of development by the rebranding its launchpad to XTStarter.

The reason for rebranding

The original version of XT Launchpad aimed to drive support and awareness for promising blockchain startups. However, for the strict screening criteria, neither the number of participating projects nor the frequency of activities can fully meet the needs of users. There is also a long lag between the activity time and the official launch time of some projects. In order to further meet the needs of users and increase their participation enthusiasm, XT.COM hereby launches XTStarter, which is an upgraded version of Launchpad. On the new platform, users, especially XT holders, can have more opportunities to participate in discount subscriptions, airdrops etc. This is not only a feedback to XT loyal users, but also an important step to further strengthen the XT ecosystem.

What is XTStarter

XTStarter, the exclusive token launch platform of XT.COM, is planning to profit for both projects and users. Blockchain projects can raise funds and increase their reach across the crypto ecosystem via this exciting channel. XT users can be granted a chance to be part of potentially game-changing projects.

XTStarter is more than a platform for offering tokens. It’s also a full advisory service for projects, which will benefit from their insights and experience. They ensure that the projects can focus their efforts on where it matters: developing their product and increasing adoption.

XT.COM are delighted to announce the release of XTStarter and the opportunities that come with it for their users. XT will continue to present projects with strong utilities, establish prolonged cooperation with their partners, and provide timely updates on XTStarter.

Swash, the first XTStarter project in 2022 limited up to $15,000

XTStarter will launch its first project with Swash. Swash enables internet users, developers, and businesses to cultivate new realities of data ownership and value creation through new incentivisation streams, innovative data monetisation mechanisms, and a collaborative development framework, governed by the ethos of Web 3. (https://swashapp.io/)

Event link: https://www.xt.com/XtStarter

XTStarter series plan with 5 million dollars subscription in XT

To celebrate the launch of XTStarter, following Swash’s first round of snap-up purchases, they will launch an annual subscription plan including popular currencies in the market, XT token, and mainstream currencies, with a total amount of up to 5 million. First come, first served. Stay tuned!

About XT.COM

XT.COM Exchange established in 2018, in Seychelles, with its operational headquarters in Singapore, is the world’s first social infused digital asset trading platform. The platform has rich trading varieties such as coin transactions, leveraged transactions, OTC transactions, and credit card buying coins.

It has operating centers in many countries and regions such as Tokyo, Singapore, Seoul and South Korea. Its business scope covers the world.

Currently, XT.COM ranks TOP 40 on CoinMarketCap and has introduced more than 300 digital assets, including mainstream coins, popular DeFi, NFT, Metaverse, all of which can be visited on XT.COM.

Media Contact:

Company: XT.com
Address: Oltajl Trade Centre – T* Floor, Victoria Mahe, Seychelles
Email: xtstarter@xt.com

Zurich, Switzerland–(Vehement Media. – January 5, 2022) – Four-Leaf Network is pleased to announce that yet another fundraising endeavor has been a success. The Four-Leaf Network is a well-known blockchain agency that has been in the crypto space for several years. The network has withstood the test of time and has survived both bull and bear markets. The company offers many services such as Marketing, Fundraising, Business Development, Technical Development, Graphic Design, Social Setup, Market Making, Exchange Listing and so much more.

According to their website, the agency can work with a new project from inception to launch, thanks to a team of professionals who can assist a project in realizing its goals. When asked about their global team of experts, a member of the Four-Leaf network core team Alex said, “Our team is made up of over 20 people who come from all over the world, making the network perfectly balanced, active in all time zones and strong in all the services we offer.”

When compared to other blockchain agencies, Four-Leaf Network has an impressive track record, having worked with over 170 agencies from inception to launch, which is extremely impressive by any standard. The firm offers premium PR and media placements on leading blockchain media platforms such as Hackernoon, Coin Telegraph, and others.

Four-Leaf has finished another fundraiser for one of its projects, and it was completely sold out. The company has worked with reputable exchanges and has been an integral part of core blockchain startups.

Four-Leaf Network is devoted to being a leading blockchain agency that bridges the gap in the blockchain industry by providing captivating content and marketing strategies that connect blockchain enterprises with all of the tools they need to grow their reach and promote DeFi adoption.

To learn more about their services, visit their website

Media Contact:

Four-Leaf Network
team@fourleaf.network

Singapore, Singapore–(Vehement Media. – January 5, 2022) – Crypto-incubator Magnet DAO raised $10 million in a public sale at the end of December, prior to launching its protocol on January 2.

Magnet DAO aims to be an early-stage crypto incubator. This concept is a twist on the trend of decentralized digital reserve currencies in general and the decentralized finance protocol Olympus in particular.

It provides access to early-stage investment opportunities that would otherwise remain exclusive to VCs, angel investors, and founding teams. By reinvesting 10% of its bond profits into further high-quality crypto assets, Magnet DAO effectively fashions itself into a blockchain venture fund.

Raising $10 million in 39 minutes in December 28 Public Offering

Magnet DAO first launched natively on Avalanche (AVAX) on December 7, with 2 million MAG tokens up for sale at a price of $0.80. This represented 20% of Magnet’s initial supply.

This initial launch was open only to the Magnet DAO community on Discord. However, these investors showed significant interest. The limit for individual maximum contributions was increased from $500 to $4,000 to meet unexpected demand, and the community offering was sold out within 32 minutes. Overall, $1.6 million were raised at the time.

The initial community offering was followed by a public offering on December 28, which equally exceeded anticipated investor interest.

The sale launched on December 28th at 5 pm UTC and was set to last for 48h or until a total contribution of $10 million MIM had been reached.

Overall, 4 million bMAG tokens were available, representing 40% of the initial supply. These are NTTs (Non-Transferable Tokens), which cannot be sold on or exchanged for liquidity. However, they have become redeemable with the launch of Magnet’s protocol.

The motivation behind offering NTTs was to prevent the development of non-approved liquidity pools (LPs) prior to the launch of Magnet’s official listing.

During the public sale, the total contribution limit of $10 million was reached within a mere 39 minutes.

Investors who had participated in the December 7th community offering were airdropped an equivalent amount of bMAG to redeem following the protocol launch.

Protocol Launch, Trader Joe Whitelisting, Minting, and Staking

On January 2 at 5PM UTC, Magnet DAO’s protocol launched officially, with a projected vesting period of 7 days, thus vesting approximately 14% each day. During this period, bMAG is being staked and is receiving rebase rewards.

The MAG token is now available natively on Avalanche, through an app via Magnet DAO’s site. Furthermore, it was whitelisted by Trader Joe, a decentralized Avalanche trading platform, on January 3. It is thus now also available for swapping by users through this avenue.

The deployment of the Magnet protocol allows users not only to stake MAG for rebase rewards, but also to mint using MIM and MAG-MIM LPs to purchase MAG at a discount.

During minting, these assets are transferred to the Magnet DAO treasury. In exchange, investors receive MAG at a discount. Subsequently, MAG is vested linearly during a 5-day period during which investors can claim their MAG in order to stake it.

During the early phase of the launch, Magnet DAO is offering a slightly elevated minting discount to quickly build its treasury and liquidity.

Investors can stake their MAG through Magnet DAO’s site by approving the target site and the amount they want to stake before submitting.

Staking is followed by a warm-up period of two epochs during which investors can unstake their MAG. However, they will forfeit their rebase rewards by doing so.

Once 16 hours have passed, though, investors can claim their sMAG, which encompasses their original MAG contribution as well as their staking reward. With the sMAG claimed, investors are then at liberty to unstake at any point, including staking rewards.

The purpose of this warm-up period is to prevent rebase traders from abusing the Magnet protocol. Frequently, opportunistic investors purchase tokens, then proceed to stake them just before a rebase. Once they have received the staking reward, they then dump the tokens, which is detrimental to the protocol. By implementing the warm-up period, Magnet aims to stave off this danger.

Projected Development of Magnet DAO

According to Magnet DAO’s own publication on Medium, the protocol’s next steps will focus on building the governance framework of the DAO (Decentralized Autonomous Organization) and assessing community proposals for the deployment of Magnet’s Innovation Fund.

Furthermore, Magnet has announced that it will be holding Investathon and Hackathon events for community members to build blockchain products.

For the long term, Magnet has announced improvements such as a variable ROI based on minting periods, bonus staking rewards for diamond handers, and a zap functionality. In addition, the organization is building external and internal Decentralized Finance (DeFi) apps and tooling interfaces which can be licensed out to benefit the treasury.

Media Contact:

Name: Justin Mahone

Email: marketing@magnetdao.finance