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49:01
Street Foundation
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Starting today, several of our existing equity investors and institutional investors are continuing to build a collective multi seven-figure position in $KLED.View quoted post on X
Our equity round is now officially closed until our Series A, and I am personally directing any new institutional venture capital interest toward the $KLED token instead.
In addition, some token holders will have the exclusive opportunity to purchase equity in the company on the secondary market from a small number of former employees, further involving the token community in the company.
You can preview our existing investors on the home page of our website here: kled.ai
[ KLED x STREET ]
Street Frontier II now has the right to buy up to 10.00% in Nitrility Inc., the parent company of @useKled with a current position of 5.00% in shares.
Kled has committed 100% of the $KLED trading fees to the Street Frontier II SPV, which are then reinvested into Nitrility Inc. by the Street SPV.
$KLED tokenholders don't have to do anything. No need to KYC, no need to lose your liquid tokens. No need to get rid of liquidity. No cutting out 98% of tokenholders. Welcome to the future.
With this SAFE the equity value held by Street Frontier II comes up to USD14,000,000 based on the last raise of Nitrility Inc.
Kled hereby participates in the ERC-S framework.
Street Frontier II now has the right to buy up to 10.00% in Nitrility Inc., the parent company of @useKled with a current position of 5.00% in shares.
Kled has committed 100% of the $KLED trading fees to the Street Frontier II SPV, which are then reinvested into Nitrility Inc. by the Street SPV.
$KLED tokenholders don't have to do anything. No need to KYC, no need to lose your liquid tokens. No need to get rid of liquidity. No cutting out 98% of tokenholders. Welcome to the future.
With this SAFE the equity value held by Street Frontier II comes up to USD14,000,000 based on the last raise of Nitrility Inc.
Kled hereby participates in the ERC-S framework.
0:50
Introducing ERC-S.com V1
We spent the last month restructuring ERC-S and getting rid of a lot of the rights the SPV had & conducted over 100 interviews with founders & VCs with the core goal of making our framework more founder-friendly, VC-compatible and remove the ownership structure.
The core of ERC-S stays the same. SPV holds equity in a startup, in case of M&A event, tokenholders vote on resource allocation.
What we removed:
- SPV has veto rights over issuance of new shares
- SPV has veto rights over issuance of new SAFEs
- SPV has veto rights over issuance of new convertibles
- SPV has veto rights over M&A
- SPV has veto rights over material asset sale
- SPV has veto rights over increase in founder compensation
- SPV has veto rights over any subsidiary creation
- Anti dilution protection for the SPV
- remove need for consent on retention bonuses, carveouts & exit bonuses
We also slimmed down the maintenance costs for ERC-S dramatically.
It's important for context to understand that ERC-S v0.3 was designed to be an ownership coin not a plug-and-play mechanism. We want founders to be able to commit to V1 without having to change anything they learned.
We spent the last month restructuring ERC-S and getting rid of a lot of the rights the SPV had & conducted over 100 interviews with founders & VCs with the core goal of making our framework more founder-friendly, VC-compatible and remove the ownership structure.
The core of ERC-S stays the same. SPV holds equity in a startup, in case of M&A event, tokenholders vote on resource allocation.
What we removed:
- SPV has veto rights over issuance of new shares
- SPV has veto rights over issuance of new SAFEs
- SPV has veto rights over issuance of new convertibles
- SPV has veto rights over M&A
- SPV has veto rights over material asset sale
- SPV has veto rights over increase in founder compensation
- SPV has veto rights over any subsidiary creation
- Anti dilution protection for the SPV
- remove need for consent on retention bonuses, carveouts & exit bonuses
We also slimmed down the maintenance costs for ERC-S dramatically.
It's important for context to understand that ERC-S v0.3 was designed to be an ownership coin not a plug-and-play mechanism. We want founders to be able to commit to V1 without having to change anything they learned.
0:13