Offerings & legal structure
This page summarizes how we separate layers for transparent expectations. It is not legal advice. Engage qualified counsel before any offering or solicitation.
Three layers
- Protocol (company) — Builds and operates software; earns disclosed protocol fees; funded through standard company equity instruments (e.g. SAFE, priced rounds) where applicable.
- Settlement token (ERC-20) — Optional checkout asset on Base for integrated flows. It is not a substitute for property share tokens unless explicitly structured and documented otherwise.
- Property / SPV — Legal entities and offering documents govern title, rent, and exit. On-chain share tokens represent claims only as described in those documents.
Disclosure checklist
- Separate documents for software participation, any token sale, and each property or basket.
- Risk factors: liquidity, smart contracts, regulation, property markets, operator reliance.
- Avoid merged marketing that implies one token carries all economic rights unless legally true.
- Follow securities and marketing rules in each jurisdiction; use geoblocking where required.
- Publish treasury multisig addresses and fee policies (see Transparency).
Repository reference: docs/legal-and-offerings.md