Adam Jackson

And getting more of the ownership, right?

So like a typical startup who's two years old like us wouldn't have 45,000 shareholders, right?

But we have 45,000-ish token holders, right?

Because it's a more efficient way to sort of crowdsource development and upgrading of the protocol.

There was probably 140 investors in those rounds.

Yeah, there's a couple of big VCs in there as well.

Homebrew, True Ventures, BlockChange, Acme, Multicoin, Pantera, and then some strategic angels as well, like Scott Belsky, who's the CTO of Adobe, Robert Leshner, founder, CEO of Compound, folks like that.

Yeah.

I mean, I, I, you know, founders will carve out a piece for them themselves at the beginning.

And that's typically kind of what they live with and then they get diluted down.

Um,

Yeah, yeah.

When you launched in 2018.

Coinbase listing, all that means is some portion of the tokens are now tradable.

It doesn't change the pie chart.

It's a little different actually.

Like imagine, so what you just said is like a typical kind of SaaS cap table seed round or pre-seed.

With tokens, you actually want the majority of the tokens to go to your community because the community is going to do the majority of the work.

There's no ESOP.

And there's a fixed supply.