EthCC Recap: Exciting New Features to be Rolled Out in Q3 2023
On July 18th, 2023 at EthCC in Paris,
Claire Ma, the Head of Product at EthSign, took the stage to discuss the various challenges founders’ face across the different stages of the Web3 founders’ journey.
Claire talked about what EthSign could offer to the founders now as well as the exciting new features being rolled out next quarter. She introduced EthSign and TokenTable as complementary tools, catering to different stages of the founders’ journey. Starting from the pre-TGE (Token Generation Event) stage, EthSign streamlines the contract signing and token ownership processes, while TokenTable comes into play during the post-TGE stage, offering efficient automation for token distribution.
Claire began by evaluating the current practice of fundraising for founders, particularly from angel investors. She highlighted the challenges associated with negotiating terms through various means like social media, email, or traditional paper signing. Additionally, the management of spreadsheets separately by founders and investors often leads to discrepancies.
To address the challenges faced by founders, Claire introduced EthSign: EthSign allows users to upload PDFs and sign contracts with their private keys. But that’s not all: in collaboration with renowned legal firms, EthSign provides an extensive library of legal templates relevant to Web3 startups, including SAFE, SAFT, Token Grants, and other contract types. Founders can access these templates, input their fundraising terms, and generate contracts to send to investors.
EthSign library is live and free to use at library.ethsign.xyz
New & Improved Features:
After settling the legal documents, the new & improved EthSign will issue an NFT certificate of the contract signed with the legal terms written into it. For fundraising, token grant and other token ownership contracts, the NFTs acts as ownership certification for token holders. EthSign can detect the issuance of all token ownership certificates under the founder’s address, and the consolidated certificates act as their on-chain cap table.
TokenTable, a token management platform that complements EthSign’s contract signing features, will allow founders to generate and distribute tokens to token holders through an on-chain token cap table with a proprietary standardized Token Unlocking smart contract. TokenTable provides a dashboard for real-time token allocation and token unlock schedules, ensuring efficient and up-to-date management of token distribution across all stakeholders.
The new and improved TokenTable smart contract will offer several key features, including maintenance-free contract management, an option to skip and start token distribution for post-TGE projects, future tokens as NFTs for added liquidity and flexibility for investors, and tracker tokens for easy monitoring of available tokens for claim.
TokenTable doesn’t only cater to founders; it also provides a dedicated portal for investors to manage their portfolios efficiently. Investors will be able to access a comprehensive list of projects and their upcoming token unlock dates, enabling them to batch claim tokens from all their portfolio projects. Furthermore, tokens can be transferred to different addresses or exchange accounts for diversification.
Claire’s presentation introduced EthSign and TokenTable as comprehensive and complementary solutions to streamlining the founders’ journey from fundraising to token distribution, improving transparency and efficiency while being optimized for ease-of-use for all parties involved. Stay tuned for these exciting features to come to EthSign and TokenTable in Q3 this year!
Visit EthSign at https://ethsign.xyz and https://tokentable.xyz to experience these platforms first hand!