Magna Digital, Inc. Market Research Report
Company Overview
Name: Magna Digital, Inc.
Mission of the Company: Magna's mission is to make it easier for crypto companies to manage their tokens and tokenholders so that they can focus on their product, and not custom internal tools and smart contracts as they scale.
Founding Information: No information is available.
Key People:
- Andreas Nicolos - CEO at Access Protocol
- Bruno Faviero - CEO
Headquarters: 161 Bowery, Floor 7, New York, NY 10012
Number of Employees: No information is available.
Revenue: No information is available.
What is the Company Known For:
- Magna provides an end-to-end white glove service for token management, helping plan, mint, and distribute tokens securely and efficiently.
Products
Product Offerings:
1. Live Token Distribution:
- Description: Distributes tokens to investors and employees securely on autopilot.
- Key Features: Audited smart contracts for secure transactions.
2. Pre-Launch Management:
- Description: Manages legal agreements (SAFTs, token warrants, token grants) and communicates the value of future tokens.
- Key Features: Streamlined process for token management before launch.
3. Custom Vesting Schedules:
- Description: Supports complex vesting requirements.
- Key Features: Flexible schedules including cliffs, daily vesting, monthly vesting, and milestone-based vesting.
4. Claim Portal:
- Description: Stakeholders can claim their unlocked tokens.
- Key Features: Customizable with project branding, secure token handling.
5. Employee & Investor Dashboards:
- Description: Provides a platform for stakeholders to manage their token holdings.
- Key Features: Vesting progress tracking, signed agreement management.
6. Multi-Signature Support:
- Description: Comprehensive control over on-chain actions.
- Key Features: Integration with Gnosis Safe, Squads, and other wallet providers.
7. Tax Withholding & Compliance:
- Description: Calculates and withholds taxes on token distributions.
- Key Features: Integration with HRIS tools.
8. Custodian Integrations (Coming Soon):
- Description: Institutional custody through Fireblocks, Anchorage, and other industry leaders.
- Key Features: Enhanced security for token custody.
Supporting Networks: Solana, Ethereum, Avalanche, Polygon, Binance, Arbitrum, Aptos, Base, Optimism, Canto.
Recent Developments
New Products Launched:
1. Tax Withholding & Compliance
- Integration with HRIS tools for seamless tax calculation and withholding on token distributions.
2. Custodian Integrations (Coming Soon)
- Institutional-grade custody solutions with leading services like Fireblocks and Anchorage.
New Features Added:
1. Custom Vesting Schedules
- Support for various vesting requirements, including milestone-based vesting.
2. Employee & Investor Dashboards
- Enhanced user interfaces for stakeholders to manage token holdings and vesting schedules.
New Partnerships:
- Collaborations mentioned include support for token ecosystems like Access Labs and notable audits by firms such as OtterSec, Trail of Bits, Zellic, and Guardian Audits.
Other Notable Developments:
- Announcement of a significant deployment involving the Filecoin network, demonstrating the ability to handle advanced token management and integration of smart contracts for token vesting and claims on Filecoin's EVM.
Additional Information
Total Value Locked (TVL): $2.5B+
Audits: 8 audits since 2022, SOC 2 Type 2 certified.
This report provides a high-level overview of Magna Digital Inc.'s operational scope, product offerings, and recent developments based on available information to date.