✍️Release Notes
Product release notes for TokenTable
June 12, 2023
Executive Summary
This release adds support for founders and investors to execute fundraising deals using SAFEs and token warrants to TokenTable. It also includes added functionality for founders to create completely custom token unlocking schedules along with a full UI revamp of the founder’s stakeholder view.
SAFE and token warrant support was based on this token warrant template, along with others.*
Key Updates
For Founders
Create SAFE + token warrant rounds: Founders can select SAFE + token warrant or SAFT when creating a new or past fundraising round.
Set standard round terms: SAFE + Token Warrant rounds support the following terms: valuation cap, warrant purchase, and exercise prices, and a warrant expiry date. Uncapped MFN SAFEs are also supported.
Customize investor terms: When adding investors, founders can customize an investor’s investment amount, discount rate, equity to token pro-rata adjustment, and calculate the token allocation for the investor.
View contract details: Founders can view SAFE and token warrant specific investment terms and manage signed contracts in the stakeholder view.
Customizable unlocking schedules: Create a fully customizable and modular unlocking schedule of your choice by adding or removing discrete or linear unlocks.
View all stakeholders: Access a comprehensive overview of all stakeholders involved in the project on the new stakeholder page, including collective information such as stakeholder address, token allocations, contract types, and quick access to signed contracts.
For Investors
Sign SAFEs and token warrants: Review investment terms and sign contracts on-chain with EthSign Signature.
Transfer investment and pay warrant purchase amounts: Upon signing investment contracts, investors can send the investment and warrant purchase amount on-chain. Payment network and currency type are customizable.
View portfolio: Investors can view SAFE and token warrant specific investment terms and manage signed contracts in their portfolio details.
Coming Up
Distribute unlocked tokens to all token holders based on their predetermined unlocking schedules using TokenTable's unlocking smart contract after the token generation event.
Monitor and manage token ownership, unlocking progress, and distribution status for all token holders including investors and team members.
Claim unlocked tokens across your portfolio as soon as they become available after the project's token generation event.
Background on SAFE + Token Warrant
Why use a SAFE + Token Warrant?
In the past, a common framework for token sales was the Simple Agreement for Future Tokens (SAFT). SAFTs were initially popular as they allowed for pre-sales of tokens at a discounted price before the public launch.
An approach that has gained traction during the recent bull market is the use of token warrants or token rights agreements, often attached to a Simple Agreement for Future Equity (SAFE) or to another equity investment contract. Token warrants provide investors with the right, but not the obligation, to purchase tokens at a discounted price during an early funding round. In this case, the SAFE is used to invest capital into a project in exchange for stock of the project's corporate entity, and the warrant is used to denote how said stock will convert into tokens.
How does stock equity convert to token equity?
A stakeholder's allocation of tokens is pro rata to their allocation of stock. This means that their ownership stake in the company's tokens is proportionally reflected in their ownership of stock. Depending on the warrant, a stakeholder's stock equity can be applied pro-rata to the total token supply, or a portion of tokens set aside for core team and/or investors.
* We are not endorsing or recommending the use of any specific contract. When using TokenTable, always verify that the terms of the contract you upload are fully consistent with the terms you input into the platform. TokenTable is built to support many common contract terms. Please contact support@tokentable.xyz if TokenTable does not adequately support your fundraising needs, so we can find a solution for you.
February 23, 2023
Executive Summary
TokenTable is a token ownership management platform that helps users execute, track, and enforce the agreements a project uses to distribute their tokens.
TokenTable aims to be a 10X better solution than the incumbent token-fundraising stack by leveraging blockchain for record-keeping, fund transfer, and agreement enforcement, while abstracting away blockchain complexities in the UX.
Key Updates
For Founders
Fundraising with EthSign Signature: Create and send contracts on-chain to investors with SAFTs, SAFEs, Token Warrants, and Side Letters.
Request payment from investors with EthSign Fund Transfer: Couple your investment contracts with on-chain fund transfer capability. Payment network and currency type are customizable.
Onboard historical signed contracts and fund transfer records: You can upload contracts from previous funding rounds and manually confirm fund transfer records, which ensures the legal contract and smart contract are aligned.
Plan token distributions: You can plan your token distribution among roles and customize unlocking schedules using cliffs, linear unlocking, and discrete-amount releases. TokenTable will update the founder's dashboard to reflect token distribution events that occur on TokenTable.
Track token ownership: Track your fundraising progress with an interactive unlocking schedule and token distribution charts on the founder’s dashboard
For Investors
Execute fundraising deals with EthSign Signature: Review investment terms and sign contracts on-chain with EthSign Signature.
Transfer funds EthSign Fund Transfer: Upon signing investment contracts, you can send investments on-chain. Payment network and currency type are customizable.
View portfolio: View previous investments including deal terms (unlocking schedule, allocation, token price, etc.) and signed contracts.
Onboard historical signed contracts and fund transfer records: You can manually confirm fund transfer records, which ensures the legal contract and smart contract are aligned.
Verify fund transfer records on TokenTable: Enter your unique invoice ID to verify previous fund transfers conducted on TokenTable via https://invoice.tokentable.ethsign.xyz/.
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