Introducing 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.