Makina 

MAK 

What is Makina Finance (MAK)?

Makina is a decentralized, non-custodial DeFi execution platform for professionally managed, tokenized, cross-chain investment strategies. Users deposit a single asset into strategy vaults called Machines and receive a fungible machine token representing their proportional claim. Professional Operators deploy that capital across lending markets, liquidity pools, and yield venues. The protocol launched its Pre-Launch campaign on September 29, 2025. DropsTab classifies Makina under DeFi and Yield Aggregator, and MAK is its ERC-20 governance and utility token on Ethereum.

How do Makina Machines work?

Machines are the strategy vaults of Makina. A depositor places one asset into a Machine and receives a fungible machine token that represents a proportional claim on that vault. A professional Operator then executes the strategy, moving capital across lending markets, liquidity pools, and external yield venues. Execution passes through MakinaVM, a permissioned engine that restricts Operators to governance-pre-approved actions only. Cross-chain transfers run on a hub-and-spoke architecture with Chainlink CCIP vault adapters, enabling one-click deposits from connected chains.

What is the MAK governance token used for?

MAK is a governance and utility token built on the Ethereum blockchain. Per Bitget's sale coverage, MAK's utility covers protocol governance and protocol fee mechanics. Operators are compensated separately through management and performance fees rather than through the token's utility design. MAK has no secondary markets yet: purchased tokens become claimable at the token generation event.

How many MAK tokens will exist?

No official total or maximum supply for MAK has been published. The Legion public sale offered 17,333,333 MAK, described as roughly 1.73% of total supply at $0.075 per token, which arithmetically implies a supply near 1 billion MAK. That figure comes from secondary sale coverage, not an official tokenomics disclosure. Until an official breakdown or TGE documentation is published, the insider-versus-community split remains unknown, and dilution risk cannot be quantified.

Is the MAK token trading yet?

MAK is not yet trading. DropsTab records zero spot, derivative, or DEX markets for MAK, and external trackers list the token as upcoming and unpriced. The Legion sale was the only acquisition route so far, with purchased tokens claimable at the TGE. No exchange listing agreements have been announced. Once the token generation event occurs, first liquidity is expected on-chain on the Ethereum hub deployment rather than through centralized exchange listings, and early trading may be limited to thin DEX pools.

When is the MAK TGE and how can Legion sale buyers claim tokens?

No official TGE date for MAK has been announced. The Legion sale ran from November 25 to December 2, 2025, and purchased tokens become claimable at the token generation event. Because the TGE is unanchored, no dated unlock calendar exists for MAK yet. Trackers list the token as not yet trading.

What does the MAK vesting schedule mean for early buyers?

Reported sale terms give Legion buyers 25% of their allocation unlocked at TGE, with the remaining 75% vesting linearly over 9 months, per Bitget's sale coverage. Airdrop allocations were reported at 25% at TGE with the rest vesting over about 6 months, though the team has not confirmed those terms. DropsTab's vesting tracker holds no dated unlocks for MAK, which is consistent with a pre-TGE token. Simultaneous 25% unlocks to sale buyers and airdrop claimants at TGE would concentrate sell pressure, and the undisclosed remainder of supply adds unquantified dilution.

Who invested in Makina, and what does the fundraising signal?

Per DropsTab fundraising data, Makina raised $3,000,000 in a Strategic Round on June 25, 2025, with 19 listed investors and no designated lead. Backers include angels such as Aleksander Larsen, Ryan Zurrer, Dan Reecer, and Trent McConaghy, alongside cyber Fund, Steakhouse Financial, Kiln, and Interop. A second round, the ICM sale on Legion, raised $1,500,000 on November 25, 2025. The dispersed, angel-heavy cap table signals community-adjacent backing rather than single-institution conviction.

How did Makina's Pre-Launch Machines point-farming campaign work?

Makina launched the Pre-Launch Machines point-farming campaign on September 29, 2025. Participants deposited assets into pre-launch Machines and earned points ahead of an anticipated MAK airdrop. Makina framed the campaign as "Season 0", an initial roughly four-week phase on Ethereum, with community coverage referencing later seasons. No end date is recorded for the campaign, and no new earning campaign has been announced following the January 20, 2026 security incident.

Was Makina Finance hacked?

Yes. On January 20, 2026, a flash-loan exploit drained Makina's DUSD/USDC Curve stableswap pool for roughly 1,299 ETH, about $4.1 to $4.2 million, using unvalidated price-oracle data. The team activated security mode across all Machines and advised liquidity providers to withdraw. Makina had reported total value locked near $100 million shortly before the incident. Secondary coverage reports partial fund recovery, but no primary source confirms it.