What Is a Receipt Token
A receipt token is a fixed supply ERC-20 of exactly 100 units deployed alongside every Receipt Token Presale on Capset. Each token represents 1% of the allocation. The terms governing that allocation are hashed and stored immutably in the contract at deployment. The token is transferable. The claim it represents is verifiable by anyone, forever.
That is the complete definition. But to understand why it matters, you need to understand what it is really doing.
The Core Idea
When you contribute to a raise, you are making a claim. A claim on a percentage of something — tokens, future value, allocation. Traditionally that claim lives in a database, a spreadsheet, or a legal document that someone controls. You trust the platform. You trust the founder. You trust the paperwork.
The receipt token replaces that trust with math.
100 tokens. 100% of the allocation. 1 token equals 1%. The terms document is hashed at deployment and that hash is stored permanently in the contract. Nobody changes the supply. Nobody changes the hash. Nobody changes what each token represents. The claim is on-chain, in your wallet, tied to verified terms.
This is not just a better receipt. It is a new primitive for representing proportional claims.
The 100 Token Model
The fixed supply of 100 is deliberate. It makes allocation arithmetic trivial and unambiguous.
- 1 token = 1%
- 10 tokens = 10%
- 50 tokens = 50%
- 100 tokens = 100%
There is no complex calculation. No decimal precision risk. No ambiguity about what a holder is owed. The cap table is the token holder list and it lives on-chain. Every holder knows exactly what they hold and what it represents.
The constraint also prevents over-allocation. Exactly 100 units exist. Founders cannot issue more. Contributors cannot hold more than their proportional share. The math is enforced by the contract at deployment.