A share class defines a category of equity with its own rights, preferences, and authorized share count. Common examples include Common Stock (typically held by founders and employees) and Preferred Stock series (typically held by investors, such as Series Seed Preferred or Series A Preferred). Every security on your cap table must belong to a share class. Share classes live at Cap Table → Stock Classes. You’ll need at least one share class before you can issue any securities.Documentation Index
Fetch the complete documentation index at: https://docs.launchboard.xyz/llms.txt
Use this file to discover all available pages before exploring further.
What’s on a share class record
| Field | Description |
|---|---|
| Name | Human-readable label, e.g. “Common Stock” or “Series A Preferred” |
| Class type | Common or Preferred |
| Authorized shares | The maximum number of shares that can be issued in this class |
| Par value | The nominal value per share (often $0.0001 for early-stage companies) |
| Votes per share | Voting weight assigned to each share |
| Seniority | Liquidation priority order; 1 is highest |
| Liquidation preference | For Preferred: the multiple applied to the original investment on liquidation (e.g. 1x) |
| Participation cap | For participating Preferred: the cap on additional participation after the preference (leave blank for uncapped) |
| Price per share | Issuance price for the class |
| Board / stockholder approval date | Governance dates, if applicable |
Creating a share class
Enter the class name and type
Give the class a descriptive name (e.g. “Common Stock” or “Series Seed Preferred”). Select
Common or Preferred as the class type.Set authorized shares and par value
Enter the number of authorized shares — this is the ceiling for issuance in this class. Add the par value if your incorporation documents specify one.
Configure voting and seniority
Set votes per share (commonly 1 for Common, 10 for founder shares, 0 for non-voting Preferred). Set the seniority rank to determine liquidation priority relative to other classes.
Add preferred terms (if applicable)
If the class type is Preferred, fill in the liquidation preference multiple (e.g.
1 for 1x non-participating) and, if the shares are participating, the participation cap multiple.Tokenization status
Each share class has a tokenization status that tracks whether it has been represented on-chain:| Status | Meaning |
|---|---|
| Not tokenized | The class exists in Launchboard but has no on-chain representation yet |
| Pending | Tokenization is in progress — an SPL mint is being created on Solana |
| Tokenized | The class has a linked Metaplex NFT (class certificate) and a fungible SPL mint (share units) |
| Failed | Tokenization encountered an error — use Retry Tokenization on the row |
What tokenization means
When a share class is tokenized, Launchboard creates two linked assets on Solana via the OASIS API:- A Metaplex NFT — the class certificate, visible in wallets like Phantom, containing metadata about the share class.
- A fungible SPL mint — the token that represents individual share units. When you mint a security to a stakeholder, tokens from this mint are sent to their Solana wallet.
Minting tokens to individual stakeholders is a separate step that happens at the security level, not the share class level. Once a share class is tokenized, you can mint from it when issuing or activating securities. See Securities for the full minting flow.