The Mirrortable

The interface between fiat currency and cryptocurrency was a huge economic opportunity. Crypto exchanges are worth hundreds of billions and on pace to be worth a trillion. The interface between other pieces of the fiat system and the corresponding crypto system will be too. And one of those areas is the interface between fiat equity and crypto equi... See more

A mirrortable is a way to take a legally compliant cap table held in a system like Carta and mirror it on the blockchain. It consists of an on-chain smart contract and a bidirectional interface that syncs changes made on-chain to the off-chain cap table and vice versa. In this it is similar to a stablecoin, which similarly links an on-chain asset l... See more

I want to talk about one very concrete problem: the tangle of angel investing. This is an area where off-chain web2 tools like Docusign, Hellosign, Carta, and AngelList could be profitably augmented with on-chain web3 tools that have matured over the last several years — particularly the Ethereum blockchain, the USDC stablecoin, and the Ethereum Na... See more

To do this, we'll introduce a concept called a mirrortable, an on-chain representation of a traditional capitalization table. A mirrortable is to a cap table what a stablecoin is to a fiat currency. That is, the on-chain version provides 24/7 uptime, international wallet support, and integration with smart contracts, while the off-chain counterpart... See more

This may not seem like a big deal, but what happens is that each investment you do isn't just a one-click expenditure of $X today. It's $Y in ongoing maintenance cost to keep up with a stream of irregular documents. It's not uncommon for angels to accumulate dozens if not hundreds of investments over the years. At a certain point the maintenance bu... See more

Send USDC from a wallet with your ENS address to the entity’s ENS address, and receive digital assets back into your wallet. These digital assets are mirror assets logged in an on-chain cap table we call the mirrortable. The primary cap table is maintained in an off-chain system like Carta for compliance purposes. And the entity periodically update... See more