Offering
A structured securities fundraise on Sails.to, governed by an Offering Grain with its own token supply, compliance configuration, and distribution waterfall.
Full Definition
A securities offering on Sails.to is a structured fundraise governed by an Offering Grain. Each offering exists as an isolated Series within a Wyoming DAO LLC, with its own token supply, compliance configuration, investor whitelist, and distribution waterfall. Offerings can be held on-chain (Solana) or crossed to bankable format (ISIN via Clearstream) through CrossSecurities.
Each Offering Grain encapsulates the full lifecycle of a capital raise: creation, investor onboarding, subscription, cap table management, and ongoing distributions. The grain model ensures that every offering operates in its own security boundary with its own state, capabilities, and audit trail.
Why It Matters
The offering is the fundamental unit of the platform. It's where securities are created, investors participate, and distributions flow. Because each offering is an isolated grain, there is no cross-contamination between fundraises - an issue in one offering cannot affect another.
For issuers, this means a turnkey capital raise with built-in compliance, tokenization, and investor management. For investors, it means a clear, auditable record of their participation from subscription through distribution. The Series LLC structure provides legal isolation that mirrors the technical isolation of the grain architecture.