What Is Magna? Token Vesting and Distribution Platform (2026)

Magna is a token management platform. Projects use it to run vesting schedules, airdrops and allocations, often through a claim portal carrying their own branding. The Block describes it as handling "onchain and offchain vesting, white-label token claims, custody and escrow workflows." Kraken announced it had acquired Magna on 18 February 2026, and The Block reported that Magna "reportedly hit a peak Total Value Locked of $60 billion in 2025."

How Magna vesting works

For each distribution, Magna deploys a vester contract from a factory. The contract holds the tokens being distributed, but it doesn't store a list of recipients. It stores a Merkle root: a single fingerprint that commits to every allocation at once.

Each recipient's allocation and unlock schedule lives in one leaf of that tree, held off-chain. To claim, a recipient submits their leaf with a proof, and the contract checks it against the root before releasing tokens.

The design is efficient for large distributions, because thousands of allocations never have to be written on-chain. The trade-off is visibility: nobody can list the recipients or read an individual schedule from the chain alone.

What that means for tracking

• Total value escrowed is visible, because the vester contract holds the tokens.
• Your full schedule becomes visible after your first claim, because the claim reveals your leaf.
• Allocations nobody has claimed yet are not visible on-chain at all.

Vestream works within those limits. It reads the escrow balance of every Magna vester it finds, and when a recipient claims, it decodes their leaf to recover the full schedule. It cannot show an allocation that has never been claimed, so for a Magna distribution your project's claim portal stays the source of truth until your first claim.

Magna by the numbers

As of 15 September 2026, Vestream tracks Magna vester contracts on seven chains: Ethereum, Base, BNB Chain, Polygon, Arbitrum, Optimism and Avalanche. From recipients who have claimed at least once, the index holds:

Examples in the index include ATH on Ethereum with 76 recipient wallets, EDEN with 65 and PROMPT with 36. We don't quote one total value figure for Magna here: a large share of the escrowed supply is in tokens too thinly traded to price with confidence. Live figures are on the Magna protocol page.

How to track a Magna unlock

1. 1Use your project's Magna claim portal. It knows your allocation even if you've never claimed.
2. 2Scan your wallet on Vestream once you've claimed at least once. It then shows your full Magna schedule next to vestings from other protocols.

Sources

• The Block: Kraken acquires Magna, product description and reported peak TVL
• Vestream Magna protocol page: live on-chain figures