Cap tables on NEAR

Captab

From day zero to unicorn.

Captab keeps a company's cap table, the record of who owns what, in a NEAR smart contract run by a DAO board. Founders, employees, and investors can verify their own stake, and money moves in the same transaction as the ownership it pays for.

Explore the live company See the evidence How it works

NEAR testnet prototype · units are ledger records, not legal shares · all holders are fictional

What is a cap table?

A capitalization table lists who owns a company: founders, employees with vesting grants, investors, and the pool reserved for future hires.

It decides who gets paid when the company is sold, how much each new investor dilutes everyone else, and whether an employee's equity has vested. Most companies keep it in a spreadsheet or a private database, so every holder has to trust whoever keeps the file.

This company's cap table, live from chain

Issued 7,140,000
Reserved for grants 435,000
Pool 1,800,000
Unallocated 2,625,000
of 12,000,000 authorized

captab-company-0d07df99e1bb0e44.testnet · ledger revision 14

Why put it on-chain

The board votes on-chain

The board is a two-of-three council on a Sputnik DAO. Every issuance, grant, round, deal, and payout is a proposal it votes on, and the company contract accepts changes only from the DAO.

The rules are code

Supply never exceeds what is authorized, vesting follows its schedule, an action cannot be replayed, and no unit moves without the holder's signature. Anyone can check the ledger against the rules.

Money moves with ownership

An investor's payment issues their units in the same transaction, or is refunded. Payouts sum exactly to the budget and pay each holder once, even when a transfer fails and is retried.

From day zero to exit

Seven stages a company goes through, each a set of contract calls. Stages marked v2 need a company on contract schema 2.

1
Found
Split ownership between founders, vest it, and record the agreement.
The founders' agreement is fingerprinted on chain; founder units can vest like anyone else's.
issue_founder_unitsincrease_authorized
Live
2
Hire
Give contributors equity that vests monthly, with terms they sign.
Any cliff, 1–120 months. Contributors claim with zero NEAR through a sponsored relayer.
create_grantaccept_grantclaim_vested
Live
3
Raise
Sell new units to investors at a round price; they pay and receive in one step.
Wrong amounts or payers are refunded by the token. The money lands in the DAO treasury.
create_roundapprove_dealft_transfer_call
Live · v2
4
Operate
Run the company's ownership with board votes and an audit-ready record.
Replay-safe actions, corrections, lost-wallet recovery, CSV/JSON export with a SHA-256.
retire_unitsreassign_holding
Live
5
Liquidity
Let early holders sell to new buyers, or sell back to the company.
A unit moves only with the board's approval and the holder's signature.
accept_dealforward_proceeds
Live · v2
6
Pay holders
Distribute money to holders, exactly and once.
Payouts sum to the budget, are funded once by the DAO, and are retry-safe per holder.
prepare_distributionpay_recipient
Live
7
Exit
Split sale proceeds by preference, accelerate vesting, close the books.
An exit waterfall becomes an explicit payout list; the closed ledger can never reopen.
prepare_explicit_distributionclose_company
Live · close in Sandbox

Transparent where it matters, private where it should be

Public and verifiable

Units per account, grants and vesting, rounds and prices, deals, payouts, and every board vote. Anyone can audit them on NEAR.

Private

The names and emails behind account IDs stay off-chain. Council members see them after signing in with their wallet; every other holder sees only their own.

Fingerprinted only

The charter, grant agreements, and purchase agreements stay with the company. Only their SHA-256 goes on chain, so anyone holding a copy can prove it is the approved version.

Honest limit: amounts are public today; only identities are private. Confidential balances are on the roadmap.

Ownership ledger today, share tokens next

Real equity cannot trade freely: transfers need the company's consent and the holder's. So Captab starts with an on-chain ledger that enforces those rules, then adds tokens on top of it.

Built: on-chain ownership ledgerIssuance, vesting, priced rounds, secondary sales, buybacks, and payouts, each approved by the board and signed by the holder.Live on testnet
Next: restricted share tokensOne NEP-141 token per share class, visible in wallets, with a transfer guard that enforces the same approvals. The ledger migrates once, from a hashed export.Designed
Later: legal sharesLegal wrappers that make on-chain units the company's source of truth, with confidential amounts.Future

Proof, not promises

Units issued7,140,000

Holders5

Ledger changes14

Deals settled3

Contract and DAOVerified

Every stage, run live on testnet

Stage	What happened	Transactions
Found	Charter amended to 12,000,000 authorized units, with the document's SHA-256	proposal
Hire	A contributor signs the grant terms on-chain, then claims 25,000 vested units at the cliff	accept terms claim
Raise	Seed round: a wrong amount and a wrong payer are refunded; the investor's exact 10,000 TESTUSD issues 1,000,000 units in the same transaction	refund payment
Liquidity	Secondary sale: the seller locks units, the buyer pays, held proceeds are delivered by a public retry	seller accepts buyer pays retry
Liquidity	Buyback: the holder accepts, the DAO pays through a proposal, 5,000 units are retired	accept DAO pays
Exit	A board-set payout list of 2,000 TESTUSD, funded exactly once and paid to five holders	funding first payment

74Rust unit tests

supply invariants, vesting, replay safety, deals, payouts

9NEAR Sandbox tests

real Sputnik DAO votes, token payments, retries, close

26browser tests

every screen against fixture chain views

Contracts: captab-company-0d07df99e1bb0e44.testnet (company), captab-dao-0d07df99e1bb0e44.testnet (board), captab-token-0d07df99e1bb0e44.testnet (TESTUSD). An earlier v1 deployment, captab-company-101e85b169dd3522.testnet, ran the original payout and zero-NEAR claim rehearsals.

How it is built

The company contract accepts ledger changes only from the DAO. Holders sign for their own grants and deals; money moves through the token in the same transaction as the units it pays for.

near-sdk 5.17 Rust company contract
pinned Sputnik DAO board
NEP-141 payments with ft_transfer_call
NEP-366 gasless claims
NEP-413 wallet sign-in
NEP-297 events
Next.js app, SQLite worker

Who it helps

Founders anywhere

An auditable cap table with built-in payouts from one deployable contract, without paying for equity software or waiting on local legal infrastructure.

Contributors and employees

Vesting they can verify themselves, claims that cost them nothing, and a path to cash through board-approved secondary sales.

Investors

A valuation trail for every round and settlement in the same transaction, so there is nothing to reconcile.

DAOs, open source, co-ops

Equity-like units for contributors, governed by the community's own council and enforced by code.

What comes next

NextSign the deal flows with third-party wallet extensions.
NextRestricted share tokens per class, migrated from the ledger.
NextOne-click company deployment through a factory contract, and a history indexer.
FutureConfidential amounts, stock options with an exercise price, SAFEs and convertible notes.
FutureAI agents as operators or council members, held to the same DAO rules as people.

Honest limits

Testnet prototype. Units are on-chain records, not legal shares, and TESTUSD is a demo token. An IPO itself happens off-chain: Captab hands the transfer agent or acquirer a verifiable export, pays the proceeds, and closes the ledger.
Closing a company is proven on a local NEAR Sandbox chain; the live company stays open as a demo.
Signing so far used local test keys; third-party wallet extensions are not yet verified.
The activity history covers transactions submitted through this app; contract views are always the source of truth.

Inspect or deploy a company · For agents: a plain-text summary is at /llms.txt.