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Winter 2022Fintech

Magna

Carta for Web3: token vesting and DeFi investment management.

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About Magna

Magna is building a platform to turn DeFi investments into financial primitives. Our first product is Carta for Web3, where companies can manage their cap tables and distribute their token equity to employees, advisors, or investors. We’re also building investor infrastructure for institutions to custody investments with on-chain execution and intelligence. Our ultimate goal is to use locked tokens as composable building blocks to power collateralized lending, liquid secondary markets, and other DeFi applications. Launching a token? Let's chat. Are you receiving tokens from your investments? We can also be helpful. What are our companies saying about the problem? > Having it all bundled together would make life easier. We have a million things to do. If you have an off-the-shelf thing, we’d use it. > This wouldn’t be a nice to have, it’d be a have to have. > Terrible process. We’re manually sending out transactions, going to solscan and manually check that they received our token. Takes hours every week. > Everything we do is potentially very dangerous. We have to check it thoroughly. I’ve spent several hours a day on this since launch. I imagine every month, it’ll take us at least 1-2 days. > Manual process every month for the ops team. They likely burn a week.... every month to pay out 150+ addresses.

Quick facts

YC Batch
Winter 2022
Founded
2022
Headquarters
New York
Team size
18
Industry
Fintech • Fintech
Tags
defi, dao
Website
magna.so
Profiles
Twitter

Founders

Bruno Faviero
Founder
- PM of Palantir's AI Platform. - Founder of Synapse Technology - AI to automate airport security (Acquired by Palantir in 2020). - Angel and VC investor in over 50 companies.
Arun Kirubarajan
Founder
- Quant trading at Millennium - Early employee at Vise - Published NLP/ML researcher and CS lecturer at UPenn

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