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The $MAK token is distributed across the community (66%) and the team & early backers (34%). See the detailed breakdown below: Community incentives: 40% Treasury: 18.85% Team: 13% Devco: 12.5% Angel round: 8.5% Airdrop: 2.5% Public sale: 4.65% The team and devco have the longer vesting schedules (community is fully unlocked way before team and devco). Community incentives: 10 years linear vesting Team: 24 months linear vesting (fully unlocked after 24 months). Devco: 6 months cliff, 24 months linear vesting (fully unlocked after 30 months). Angel round: 25% unlock at TGE, then 6 months linear vesting. Airdrop: 25% unlock at TGE, then 6 months linear vesting. Public sale: 25% unlock at TGE, then 9 months linear vesting.
Short: The strats really kick in during Season 1 but its up to the Operator on how they run them, expect cross-chain yielding and the list of chains growing. And yes, non EVM is on the table, exploring at the moment. Long: So let's break it down to **Season 0** and **Season 1**: **Season 0** is the bootstrapping phase. It lasts four weeks and is designed to get liquidity into the system before full Machines go live. Users can buy (swap on Makina's front end) Machine Tokens and earn three things. * **Base yield** from Morpho vaults for USDC, ETH, and BTC (Steakhouse USDC, MEV Capital WETH, Gauntlet WBTC Core). * **Tickets**, which secure access to the $MAK ICO at the same $35M FDV valuation as the seed round. Tickets accrue per dollar per block and give guaranteed entry to the Priority ICO. * **Points**, which convert into $MAK tokens at TGE and also rank users for things like the NFT snapshot (more news on that later but its going to be really fun). Points accrue per dollar per block and are boosted by when you enter (time-weighted) and how you use your Machine Tokens (hold in your wallet, Curve). Early deposits earn higher multipliers. Season 0 has no lockup, you can withdraw at any time but if you transfer or sell your Machine Tokens, you forfeit your Tickets and Points. **Season 1** is where the Dialectic strategies kick in. According to the talk at ETHCC by Dialectic’s CTO, three index-style strategies will be deployed at launch: \*subject to change * A **USD Yield Index**, built on top of stablecoin lending markets. * An **ETH Yield Index**, which combines staked ETH with structured hedging and basis trades. * A **BTC Yield Index**, designed around liquid BTC wrappers with lending and derivatives.
Makina’s vaults are called **Machines**. They are more than yield wrappers. A Machine is a programmable execution vault (think smart vault) that runs strategies through the MakinaVM. Operators are professional strategists who manage these Machines, and get a fee for doing so (part of which can go to the DAO/MAK token holders). But the Operators are not allowed to do whatever they want. Their actions are constrained by onchain rules. Every strategy is expressed as Instructions, which are predefined transaction bundles. Instructions are checked against a Merkle root, so only approved actions can be executed. Risk is enforced with hard limits. Machines set exposure caps (how much can go where), protocol allowlists, and parameter ranges. If something goes wrong, they can trigger atomic unwinds that close positions in a single transaction. NAV (net asset value) accounting is deterministic, so the share price of Machine Tokens always matches the underlying assets. Machines are considered modular since they use what we call Calibers. These are standard modules for interacting with other protocols. This removes the need to write custom adapters for every protocol or L2 integration. Machines can also operate across chains (through Wormhole) while keeping consistent state and accounting. All of these things wrapped together is what makes Machines different. We put risk enforcement directly into code. Users get access to institutional-grade strategies with transparent rules. Who knows maybe some of the others mentioned in your question will end up running a Machine on Makina ;)
If you’re not buying high and selling low are you even in Crypto? (/jk) The $MAK token will be used for governance but platforms that generate cash flow need to do better. That's why the $MAK token will be cash-flow driven, that there will be a token buyback program, as well as fee-sharing mechanism. More information on this to come as we approach the TGE
When planning a token launch in today's crypto ecosystem projects (especially DeFi) need to navigate multiple dimensions of fairness, each with its own trade-offs and philosophical implications. A “fair launch” isn’t a set definition but it's a spectrum. Some projects like Morpheus represented one of the spectrum of fair launch with no pre-mine, no investor allocations, and equal distribution to community, capital, compute, and code providers. MOR had no strategic round at all. Whether this is good or not is yet to be seen. Another example could easily be Bitcoin - the OG fair launch. One could say Bitcoin established the original fair launch paradigm: no pre-mine, no venture capital rounds, and equal opportunity for anyone to mine from day one. But as it wasn’t yet captured by the mainstream like crypto is today, we are left with wealth concentration as adoption of BTC took time. Over the years, and more so now due to the long and messy history of token launches, the conversation around fair launches has become more nuanced. We think that fairness exists on a spectrum and involves multiple dimensions. Take into consideration the complex nature of the DeFi infrastructure we’re building and it’s clear our needs are different from a Layer1 or a memecoin.A good point to start with could be around considerations of transparency, accessibility, incentive alignment, governance rights, and long-term value distribution. Here are some examples of how we’ve been thoughtful in the following areas of our launch. \- Clear communication about funding rounds and pricing (only one strategic seed round, this has been communicated) \- Open-github repo (github is available)- Published docs with no opaqueness on how Makina works- Sufficient notice for participation in Token related events (we’ve been screaming about our launch for a while) \- Fair minimums and caps for participation (no min and no personal cap for participation) \- Multiple participation paths for different needs (you can get exposure to USD, ETH, or BTC Machines)- Releasing tokenomics information (published supply, allocation, vesting) \- Minimized technical barriers (all you need to do is have a wallet) \- Geographic inclusivity where legally possible (OFAC sanctioned as per usual)- Meaningful vesting for team and investor allocations (team vests have the longest vesting, more than public or ICO round) \- Rewards for genuine contribution (deposits are what get you into the ICO, not tweet maxing or other KOL trickery) \- Mechanisms that discourage short-term speculation (if you transfer tokens in the Pre-Launch you lose your points and tickets) \- Value accrual mechanisms that benefit all participants ($MAK token will be cash-flow driven, token buyback program, as well as fee-sharing mechanism)-Concrete milestones for increasing decentralization (Operators eventually can onboard with less oversight, but for now we need to manage risk and reputation until the platform stands up and proves itself) \-Governance mechanisms that expand in scope over time (DAO, $MAK token grants voting)Happy to jam on more topics around fair launch as its a vast topic of discussion. Great first question to the AMA.
We're mainly here to buy high & sell low. Can you help us do this more efficiently? Jokes aside. Can you elaborate on the role of $MAK token? Is it for governance or something else? Thank you.
Makina explicitly mentions tackling 'fair launches' and discussing 'How fair launch values shape the $MAK distribution.' Could you elaborate on how you define 'fair launch' when the Season 0 structure provides a priority ICO access mechanism (Tickets) at a $35M FDV (the same as the strategic angel round)? How does this model align with the common crypto-native understanding of a purely permissionless or 'fair' distribution event? What are some other examples of projects that you look to as having done a good/fair job with their launch recently?
Post is by: MaeronTargaryen and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/1nqbof5/join_the_makina_ama_and_discover_the_defi/ Makina (r/Makina) enables professional fund managers to deploy cross-chain, sophisticated, and risk-adjusted strategies onchain in a non-custodial way, while opening access to everyday crypto and DeFi users. On September 29 we launch Season 0, where we bootstrap network liquidity and align before the ICO. Ask us anything now and find out how to make the most of Season 0 before we go live on Sept 29. **What is Makina and why is it relevant to the sub?** Makina is a DeFi Execution Engine that connects professional strategists (Operators) with onchain users through programmable vaults called Machines. The first Operator that will deploy on Makina will be Dialectic, an industry-leading crypto-native fund.Machines are designed for institutional-grade yield strategies that anyone with a wallet can access. Risk management is enforced onchain with pre-approved instructions, parameter caps, atomic unwinds, and a lot of other innovative tech. This is relevant to the sub because it tackles issues that matter in DeFi today: yield, transparency, risk management, fair launches, and execution infrastructure. **What’s happening now?** On September 29 at 12:00 UTC we launch Season 0. This is your chance to acquire Machine Tokens (MT) and participate in Makina’s launch while earning: \- Base yield from selected Morpho vaults (Steakhouse USDC, MEV Capital WETH, Gauntlet WBTC Core). \- Tickets: Tickets give priority ICO access at $35M FDV (the same valuation as our strategic angel round). \- Points: Points convert to $MAK tokens at TGE + leaderboard perksSeason 0 runs for 4 weeks. Early participation brings higher reward boosts. Your boost depends on when you join and how you position your Machine Tokens. **Why are we here?** We want to share details of how Season 0 works, explain why institutional-grade execution infrastructure is missing from today’s DeFi stack, and hear directly from the r/cryptocurrency community. **Topics we’d love to dive into (but not limited to):** \- Mechanics of Makina’s Season 0, Tickets, Points, ICO, and Boosts. \- What makes Makina uniquely positioned to transform DeFi operations? \- Makina’s technical innovations. \- Risk frameworks and Operator alignment. \- How fair launch values shape the $MAK distribution. \- The role of Machines in scaling cross-chain strategies. \- What comes next after Season 0? *Season 0 is just the start. Positioning now means you'll be ahead of the curve for the Priority ICO.* *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*