Key Definitions

Below are the core primitives that each user of Magna needs to understand in order to effectively use the platform as intended.

1. Allocation

An allocation is defined by a token amount (number of tokens), a schedule by which they vest or unlock (e.g., vesting/unlock schedule), a receiving wallet address, an associated stakeholder, and optional description that explains the purpose of the allocation (for example, “Refresh Grant”). Allocations are used to represent token grants, refresh grants, investor allocations, or any other types of token arrangements.

2. Stakeholder

A stakeholder is a user on the Magna platform that is the recipient of one or more allocations. A stakeholder has attributes including a name, email, and wallet address. A stakeholder could be, for example, an employee or investor. Stakeholders have the ability to change the receiving wallet addresses associated with their allocations. Stakeholders can also be associated with multiple allocations, for example, an employee with one allocation representing their original token grant and a second allocation representing a refresh grant.

3. Vesting Schedule

Magna supports tracking both vesting schedules and, if needed, a separate unlock schedule for a particular allocation. The vesting schedule defines the time-based milestones upon which tokens vest and become releasable to a stakeholder within the Magna platform. When an allocation is managed via direct distributions (not using a vesting contract), project admins can easily distribute vested tokens to stakeholders within Magna via a direct transfer.

4. Admin (or “project admin”)

An admin within Magna is a user from the token project with permissions to add and edit stakeholders, add and edit allocations, and initiate distribution transactions within the platform to transfer vested tokens to stakeholders.

5. Transaction

A transaction within Magna represents an on-chain transaction that, when signed and executed, transfers tokens from the company’s wallet directly to the recipients’ wallets. Transaction Proposals are created within Magna and provide the opportunity for project admins to review the proposed actions and resulting changes before signing the associated on-chain transaction.

6. Admin Wallet

The Admin Wallet is the wallet address that Magna expects to be used to sign the transactions associated with transferring vesting tokens. Typically, within Magna, the wallet used to sign these transactions is also the wallet from which the tokens are transferred.

7. Funded

Tokens are considered “funded” for an allocation when they have been sent directly to the recipient or deposited into a vesting smart contract.

• Note: We are in the process of updating our application terminology to explicitly reference these tokens as “Transferred”.