Magnet profile
Magnet Profile (MAG)
Rating: F | Weak
Highly Speculative Nano Cap
Project Safety Score

Mon, Jan 24, 2022 5:28 AM

Rating Weak
Market Cap $6487152.5355888
24hr Volume $130410.89146605
Price $0.59904800384564




Magnet is the next evolution of the reserve currency protocol. Unlike first-generation protocol models, our goals lay beyond simple market cap and treasury growth from bonding. Instead, we use 10% of bond profits to invest in high-quality crypto startups, helping them grow from the earliest stages and effectively turning the DAO into an on-chain venture fund. All tokens acquired by the DAO will be owned by the treasury, creating exponential value and unmatched upside for investors. Magnet DAO holds strong values in transparency, fairness, security, and innovation. From a security standpoint, all contracts in the protocol are MultiSig, and the team has recently engaged Paladin to conduct a full audit for the protocol. From an innovative standpoint, we are developing novel pre-sale and fair launch mechanisms, which bolster the protocol’s treasury and allow the entire community to invest in Magnet DAO in its earliest stages. This concept significantly distributes our network and mitigates any concentrated holders or ‘whales’. As the first reserve currency protocol to introduce the concept of decentralized venture capital, Magnet DAO needed the right team to bring its innovations to fruition. Our developers stem from a wide variety of backgrounds, including crypto venture capital, software engineering, graphic design, marketing, and many more disciplines which lend value to the vision of the protocol. While early-stage investments are a focus, the team plans to have a very hands-on approach: establishing a builder-first mindset in our incubation model, building protocols in-house, and working directly with developers and founders in their project’s earliest stages. This will enable us to provide proper guidance, necessary funding, and a revolutionized approach to the traditional Web 2.0 crypto-accelerator model.

Read more in the whitepaper:

Magnet Smart contracts and audits.

Below are the available smart contract addresses and any associated contract audits.

AVAX: 0x1d60109178c48e4a937d8ab71699d8ebb6f7c5de


Magnet is a part of the following ecosystems.

Magnet Project Statement

Project statements are provided by senior members of the project team and serve to tell the reader why the project has honorable intentions and why is definitely not a scam.

Please get in touch to submit a project statement for this project. Emails must be sent from official domain email addresses and will be verified before being accepted.

Full Report

Magnet Safety Report

Magnet has a safety score of 2.32

Magnet is a nano cap token.

Magnet is suited to a highly speculative investment style.

Magnet Profile

This profile is missing some data needed to perform a thorough analysis. Depending on what data is missing then this could have a negative impact on the overall rating.

Missing Data:
  • project whitepaper
  • project team
  • reddit
  • bitcointalk thread
  • tradingview profile
  • exchanges

Magnet Red Flags

There are currently no Magnet red flags.

Magnet Development Score

The Magnet project has 3 active source code repositories.

The most recent commit was Sun, Jan 2, 2022 8:06 PM

  • 0 Watchers
  • 8 Stars
  • 2 Mentionable Users
  • 0 Vulnerabilities
  • 2 commits in the last 28 days.
  • daily repo updates
  • good repo stars
  • no stars
  • no watchers
  • no mentionable users

Magnet Sentiment Score

The sentiment score indicates how well the wider community regards the project. We analyse social media platforms such a Reddit, Twitter etc to access if the community is talking positively or negatively about a project. Or if they are even talking about the project at all!
The more articles that are available to analyse, the more confident we can be about the score. If there is not a lot of data available on the internet to use, this should be a redflag as it can indicate that no one is posting or writing about this project.

  • The overall sentiment is very positive
  • Low number articles to calculate the sentiment

Magnet Community Score

The community score indicates how active community is. Are they writing lots of articles and engaging in lots of conversations on the web? Where is the crypto communities attention spent? There are so many hours in the day to spend writing, reading, researching a project. So how much of this time is spent on Magnet?

The larger a community is then the more eyes are on that project. Sharing information, red flags and concerns is more likely the bigger the community is. And larger communities are alot hard to censor and control - therefore they provide a diverse range of opinions.

Overall Magnet has an poor community rating, small communities can be easily manipulated and bullied (banned from telegram, deleted from discord etc) into towing the project line. If a project is new and doesnt have a big active community then in general as the project grows the community score will increase.

  • extremely high hashtag tweets
  • no reddit articles
  • no gitHub account watchers

Magnet Awareness Score

The awareness score indicates how well Magnet is known in the main stream. Its all very well for a project to have a discord channel to have 1000 users chatting all day about how great the Magnet is but a good measure of longevity is how well the project is known by the general public.

Overall Magnet this project is not known by the general community. If a project is new and has not had a lot of marketing or exposure then in general as the project grows the awareness score will increase.

  • poor search result total
  • very poor number of news articles mentioning Magnet
  • very poor number of headlines about Magnet
  • very poor number of Magnet YouTube videos

Magnet Credibility Score

The credibility score indicates how credibility a project is. Does it have a ridiculous name? Is it run by a 13yr old in their basement? Is it just 2 days old and too early to tell?

  • Brand new project age (released Jan 4, 2022)

Magnet Volume Score

The volume score is the simplest of all our metrics and quite often the bottom line metric. It doesnt matter how well a project scores on the other factors, if it is only shifting a few thousand dollars a day in volume then there is a high chance you will left holding a bag

  • poor USD 24hr volume

Red flags come in all shapes and sizes

At the end of the day a cryptocurrency project requires you to part with your hard earned cash in order for it to become succesful.

You expect a level of transparency and professionalism from a project that is asking for your money.

There are all sorts of red flags which you should be weary of;

  • 404 (missing) websites
  • Expired SSL certs
  • Malware/Hijacked sites
  • Suspended Twitter accounts
  • Private Subreddits
  • SEC investiations

If you spot anything suspicious/resolved then please let us know.

Magnet Red flags
  • No red flags
    No red flags have been identified. That doesnt mean its a 100% safe project, it just means that no red flags have been brought to our attention.

Magnet Exchanges
Magnet Explorers
Member Ratings (MAG)


0 reviews
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Do you think Magnet is a scam project which will disappear in a rug pull in the next few months or do you think Magnet is here to stay?

And more importantly let us know your experience and warn others if you have noticed something suspicious.


Profile Status

How complete is this profile:

Lots of missing data points

This profile is still waiting for the following data points

  • project whitepaper
  • project team
  • reddit
  • bitcointalk thread
  • tradingview profile
  • exchanges
Member Signals


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Magnet Github
Magnet News
  • Crypto Incubator Magnet DAO Raises $10M in Public Sale ...

    Thu, Jan 6, 2022 10:38 AM


  • Crypto Incubator Magnet DAO Raises $10M in Public Sale ...

    Thu, Jan 6, 2022 6:15 AM


  • 5 Cryptos Making Headlines

    Wed, Jan 5, 2022 10:38 AM


  • Crypto Incubator Magnet DAO Raises $10M in Public Sale, Launches Protocol

    Mon, Jan 3, 2022 8:30 PM


  • Magnet DAO Launches Early-Stage Crypto Incubator, Raises $1.6M in IDO

    Wed, Dec 8, 2021 10:38 AM