Magna, the largest multi-chain token vesting platform, announces
the successful deployment and UI integration of the first smart
contract for token vesting and token claims on the Filecoin network
for end-to-end usage.
NEW
YORK, July 23, 2024 /PRNewswire-PRWeb/ -- Magna,
the largest multi-chain token vesting platform, is excited to
announce the successful deployment and UI integration of the first
smart contract for token vesting and token claims on the Filecoin
network for end-to-end usage. This development marks a significant
milestone in the integration of the Filecoin EVM with advanced
token management features.
Magna currently has over $2B in
TVL, native support for Ethereum, Solana,
and Aptos, and over a dozen audits from auditors including Zellic,
OtterSec, Trail of Bits, and Guardian Audits.
"By integrating these tools into the
Filecoin ecosystem, we aim to facilitate smoother operations for
protocols and their teams when managing token allocations,
automating unlocks to stakeholders, and facilitating community
claims ," said Bruno Faviero, CEO of Magna.
"By integrating these tools into the Filecoin ecosystem, we aim
to facilitate smoother operations for protocols and their teams
when managing token allocations, automating unlocks to
stakeholders, and facilitating community claims ," said Bruno
Faviero, CEO of Magna. "Our mission is to make token distribution
and management as secure, efficient, and seamless as possible. We
choose our ecosystems carefully, and are excited to expand more
into the Filecoin orbit."
"Magna's deployment of their token vesting and claims tools on
the Filecoin network will simplify the token management process for
teams building protocols," said Brad
Holden, Managing Partner at Protocol VC. "By providing a
more secure and efficient way to manage and distribute tokens, it
paves the way for greater innovation and growth within the Filecoin
ecosystem."
The newly deployed token vesting and claims tool on Filecoin
will enable a more secure and efficient way to manage token
allocations, ensuring that tokens are released based on
predetermined schedules and conditions. This is a crucial feature
for projects that seek to incentivize long-term commitment from
stakeholders, reduce market volatility, and enhance overall project
stability. Magna also gives projects flexibility in how to manage
tokens including automated on-chain unlocks, off-chain schedule
tracking, and tax withholding support via integrations with
Rippling, Deel, and other HRIS providers. Magna's custom
white-labeled claim portals also allow projects to efficiently
allow claiming of tokens by more than hundreds of thousands of
recipients.
"Filecoin has been a pioneer in blockchain design that we've
always looked up to and we're super excited to give back to the
community," said Magna CTO Arun
Kirubarajan, "We are excited to integrate our protocol and
application with Filecoin and the FEVM to give Filecoin builders
our full suite of tools including airdrops, token claiming,
automated vesting, and minting.
In addition to the token vesting and claims tool, Magna has also
added support for minting tokens on the Filecoin network and the
Filecoin Ethereum Virtual Machine (FEVM). This
integration allows developers to create, manage, and interact with
tokens on Filecoin with greater ease and flexibility.
"As a lead engineer at Magna, I'm thrilled about the enhanced
security and decentralization this brings to the Filecoin
community", said Larry Bekchyan, lead engineer at Magna. "This
milestone showcases our commitment to innovation and was a smooth
process, highlighting the strength of our team and commitment of
our vision to provide our services omni-chain."
The deployment of these new features underscores Magna's
commitment to driving innovation and providing cutting-edge
solutions in the blockchain space. As the Filecoin ecosystem
continues to grow, Magna remains dedicated to supporting its
development and helping projects leverage the full potential of
decentralized storage and tokenization.
Media Contact
Bruno Faviero, Magna Digital, Inc., 1 5619298444,
bruno@magna.so, www.magna.so
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SOURCE Magna Digital, Inc.