Keep Ownership Legible

Make the Complexity Explainable#

During the dynamic period, the member ledger is the framework’s allocation and governance record. Its legal effect depends on the governing documents. The record must stay legible: every number traceable, every change approved, and the final transition deterministic.

Every report shows:

• Member-ledger allocation: accepted Contribution units divided by the eligible member ledger.
• Voting weight: active, undisputed units as of the last record date.
• Hypothetical final allocation: the ownership each member would hold if the ledger froze now.

The member ledger contains only units minted by accepted Contribution Blocks with supporting approvals. Vote records identify which units were active and undisputed on the record date. Funding instruments, advisor arrangements, and outside investors are tracked separately during the dynamic period.

At a mandatory trigger, finalization resolves disputes, freezes the denominator, and calculates path-neutral percentages. Qualified professionals then execute FIXED_LLC or CORPORATE_CONVERSION. The resulting ownership record is legible because the path to it is documented.

In One Line#

Ownership legibility = one honestly kept ledger, a continuously tested final-allocation calculation, and mandatory finalization before the outside world relies on the cap table.