Charter
Launch app

Confidential equity registry - Ethereum Sepolia

The ledger can prove the company without exposing the cap table.

Charter is the confidential equity-registry primitive beneath a real cap-table product: encrypted ERC-7984 shares, proof-backed aggregate disclosure, private dividends, hidden-weight governance, and swappable modules on one live share token.

Launch live demoRead proof run

Charter Demo Corp

Confidential share ledger

live

0x0404...640D

issuer

encrypted500,000

0x5104...1e6C

holder

encrypted300,000

0x697B...B7Dc

holder

encrypted200,000

public

holder addresses

private

share amounts

proven

1,034,800 total

active distributor

0xd856...B3b4

guarded claim path

test suite

70 passing

FHEVM mock coverage

claim proof

0x6d77...4ed4

Sepolia transaction

batch guard

13 -> named revert

DistributorBatchTooLarge

Why this exists

Public tokens leak. Private ledgers do not compose.

A private-company cap table needs confidentiality, but it also needs enforceable payouts, voting, lifecycle state, and auditability. Public ERC-20-style ownership leaks the economics of every holder.

Charter keeps the registry on Ethereum while encrypting quantities. The public chain sees addresses, timing, and proof-backed aggregate state. It does not see individual holdings, payouts, tender sizes, or vote weights.

Public

identity, timing, aggregate proof

Private

amounts, payouts, vote weight

Workflow

One ledger. Five proof paths.

The app should not feel like eight unrelated demos. Every workflow is a module around the same encrypted `CharterShares` balance.

  1. 01

    Issue

    Mint encrypted ERC-7984 share allocations to investor wallets.

  2. 02

    Disclose

    Publish aggregate supply with a KMS proof, not holder balances.

  3. 03

    Distribute

    Declare a public pool; holders pull private pro-rata payouts.

  4. 04

    Govern

    Cast encrypted votes and reveal only the pass/fail outcome.

  5. 05

    Extend

    Plug vesting, buybacks, gated issuance, and enforcement into one ledger.

Module architecture

The share token stays still. The registry evolves around it.

The live deployment has already rotated governance modules and dividend distributors without migrating holdings. That is the composability story: behavior changes beneath one confidential ledger.

Core ledger

CharterShares

Encrypted ERC-7984 ownership and module ACL.

DividendDistributor

claim-based confidential payouts

CharterResolutionsV3

shareholder proposals and hidden-weight voting

ConfidentialTenderOffer

private-size issuer buybacks

VestingSchedule

cliff-and-linear encrypted grants

GatedIssuance

default-deny accredited issuance

ForceTransferGuardian

quorum and timelocked enforcement

Scope discipline

Honest boundaries make the product stronger.

Charter hides quantities, not identities.
It is a confidential equity-registry primitive, not a full Carta replacement.
The demo uses Sepolia and mock mcUSD; it is not a securities offering.
The active distributor is deployed and exercised live; source verification is still pending due explorer outages.

Enter by role

Launch the app after the story is clear.

workspace

Investor

Decrypt your position, claim payouts, vote privately.

Open route

workspace

Issuer

Issue shares, disclose supply, declare record-date distributions.

Open route

workspace

Governance

Open proposals, vote, and settle outcomes with proofs.

Open route

workspace

Auditor

Inspect only balances a holder explicitly grants to you.

Open route