EthSign TokenTable Beta Launch
EthSign TokenTable is a token ownership management platform that helps users execute, track, and enforce the agreements a project uses to distribute their tokens.
We are excited to announce that the TokenTable Beta is now live at ethsign.xyz/tokentable. To access the product please sign up via our waitlist!
Prologue
The following excerpt from, our investor, Balaji’s Mirrortable article sets the scene for TokenTable:
“With the physical decentralization of technology away from Silicon Valley, the simultaneous acceleration of many tech trends, and the money released by a slew of liquidity events, there are more high net worth individuals writing more checks into more tech startups in more countries than ever before”
- 10X investors. There’s a surge in the number of investors per round. Party rounds are now standard.
- 10X startups. There’s a rise in the number of high quality startups. We see amazing people every week.
- Increased complexity. There’s an increase in contract complexity. It’s not just vanilla SAFEs anymore, it’s all manner of complicated token and warrant agreements.
- 10X jurisdictions. And there’s a huge expansion in the number of jurisdictions, now that places like India, Nigeria, and Latin America are coming up in a big way.”
The Emergence of Tokens
For many Web3 companies, token-based equity is supplementing and in some cases replacing stock-based equity. As a byproduct of globalization, business is orders of magnitude more interconnected than in the past — multiple legal jurisdictions can now be involved in governing a business scenario. Tokens are valuable in these scenarios because they are independent to traditional financial institutions, trackable enabling consistent auditing standards, and draw liquidity from a global market.
As more regulatory frameworks are introduced and market liquidity further improves, the token-based capital market can potentially become the largest global capital market. As a new asset class, tokens have experienced a rapid increase in popularity and show enormous growth potential. This is in large part due to their high financial and geographical accessibility relative to more traditional asset classes. Asset tokenization enables companies to enjoy the benefits of faster transactions, cheaper costs, and better transparency, thus reinforcing long-term market liquidity.
These pros, however, are not without their cons. On-chain fundraising and token allocation has proven highly manual, error-prone, and arduous for everyone involved. At the root of this problem is a lack of technological and legal industry standards mediating the necessary processes.
As an emerging Web3-native legal tooling platform, EthSign is uniquely positioned to solve these problems, and it seeks to do so with TokenTable.
The Problems
Founders have told us…
- “We have to manually distribute and track every token we distribute, including employee vesting and airdrops”
- “We use Excel for our cap table and tokenomics graphs”
- “It was too hard to lock the tokens in a smart contract, so we didn’t”
- “We had 50 investors in our last round. We could have had more, but the manual back-and-forth process was crazy”
- “It takes tons of time & effort to get all the partners to sign”
Investors and employees have told us…
- “I am unsure when I will get my tokens, and keeping track of unlocking dates is cumbersome”
- “Sometimes I send funds but don’t get a contract”
- “Excel is too much work to get a real-time portfolio view”
- “The founders promised tokens, but I have nothing yet”
Enter TokenTable
TokenTable is a token ownership management platform that helps users execute, track, and enforce the agreements a project uses to distribute their tokens. The current “fundraising stack” is fragmented across email, spreadsheets, e-signature platforms, bank accounts, messaging apps, wallets, back office teams, and more! 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.
The product serves all tokenholders — stakeholders in token-based projects — including founders, investors, employees, advisors, and community contributors. TokenTable demonstrates how smart contracts can be used to trustlessly enforce agreements that take place throughout the lifecycle of a startup.
Beta Features
For more information on and demos of TokenTable see our docs or try the product.
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.
- Upload previously 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 interactive unlocking schedule and token distribution charts on the founder’s dashboard
For Investors
- Execute fundraising deals with EthSign Signature: Review investment terms, sign contracts on-chain with EthSign Signature.
- Transfer funds with EthSign Fund Transfer: Upon signing investment contracts, you can send investment 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.
- Upload previously 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 payment ID to verify previous fund transfers conducted on TokenTable via invoice.tokentable.ethsign.xyz.
If you are interested in using TokenTable feel free to reach out to our BD representative on Twitter @maxreeed or maxreed@ethsign.xyz to get onboarded!
For any product related questions, comments, or concerns contact our product manager on Twitter @lippmanethan or ethanl@ethsign.xyz.
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