Mainstreet

Mainstreet is a decentralized investment vehicle that takes equity in operating businesses and returns a share of the cash those businesses distribute to token holders in USDC.

It is not a protocol. It is not infrastructure. It owns pieces of real companies with customers, revenue, and profit, and it pays out on-chain when those companies perform.

Own a piece of dozens of real businesses, get paid when they do well.

Two markets exist that never touch each other.

The businesses need capital. The capital wants ownership of something real. Nothing connects them.

This is not a technology problem. It is a distribution and structuring problem, which is precisely what a DAO is built to solve.

Crypto's liquidity problem is not a shortage of capital. It is that the capital never changes.

Nearly every token launched today is purchased with money already inside the system. Capital rotates between assets, the aggregate pool stays flat, and each new launch competes with every other for the same wallets. Prices move on rotation rather than on inflow. When sentiment turns, there is no external demand underneath to absorb it.

Bringing new participants in has been attempted mainly through marketing: better narratives, larger campaigns, more aggressive incentives. This reaches people who were already close to the edge of the market. It does not reach the people who have no reason to be there at all.

Mainstreet reaches them through products they already use.

A portfolio company has customers. Those customers are, overwhelmingly, not in crypto. They bought something because they wanted it. When that company launches a token backed by real equity and real distributions, its customers have a reason to hold that no purely financial asset can offer: they use the product, they know whether it is good, and they benefit when it succeeds.

This inverts the usual sequence. Normally a token is launched and a community is assembled around it. Here the community exists first, as customers, and the token gives them a way to own part of what they already buy.

Two consequences follow

• Capital enters from outside. A customer who buys a token is not rotating out of another position. That is net new demand, arriving from people whose participation is not conditional on the state of the crypto market.
• The relationship runs both ways. Token holders become customers, and customers become token holders. A company gains an audience with a financial reason to buy, refer, and advocate. This is the distribution advantage described in Section 3, and it is what makes a 20% to 40% equity stake worth accepting.

The same logic extends to consumer applications. A product with users has an audience that arrived for the product, not for the token, and that audience is reachable in a way a purely financial offering never is.

Crypto has spent a decade building rails and then trading the same capital across them. The next decade depends on giving people outside the system a reason to enter it. Real businesses with real customers are the most direct reason available.

Why a founder chooses us

Money is a commodity. What is not: thousands of people who own a piece of your success and want you to win.

For a consumer brand that is a customer acquisition engine, a launch audience, and a distribution network from day one. A bank gives you money and a repayment schedule. A venture fund gives you money and a board seat. Mainstreet gives you money and an army.

Companies that can raise conventionally on better terms should. Our pipeline is companies for whom conventional capital is unavailable or unsuitable.

A DAO cannot sit on a company's cap table. The structure resolves this in three layers:

• Foundation. Holds the treasury. Governed by token holders.
• Operating entity. Sources, diligences, negotiates, and holds equity positions.
• Portfolio companies. Structured as LLCs, built to distribute cash rather than retain it.

The distribution covenant

Every agreement carries the same core terms:

• Mandatory quarterly distribution of a defined share of Distributable Cash
• Distributable Cash defined as cash from operations, less agreed capital expenditure, less a defined working capital reserve
• A ceiling on founder compensation, so distributions cannot be absorbed as salary
• Audit and inspection rights
• Quarterly financials delivered within 45 days

The ratchet

Strong performers earn equity back. Positions include a ratchet under which Mainstreet's stake steps down as the company hits defined milestones. A founder who executes ends up owning more of their company. This keeps the people we back motivated for the long build rather than resentful of the terms they signed when they had no options.

$MAIN represents membership in Mainstreet. Holders who stake receive:

1. 01A pro rata share of USDC distributions received by the treasury from portfolio companies, net of operating expenses
2. 02A pro rata share of company token emissions from the treasury's holdings
3. 03Governance rights over treasury deployment and structural changes

$MAIN is the index. It holds exposure to every company in the portfolio. As the portfolio grows, no single company determines the outcome, and $MAIN becomes a diversified claim on dozens of operating businesses.

What $MAIN is not

It is not a claim on the underlying equity positions. It does not represent shares in any portfolio company. It carries no redemption right, no guaranteed distribution, and no principal protection.

At launch, $MAIN generates no yield. Companies must be sourced, funded, and reach the point of distributing cash. The realistic timeline from first deployment to first distribution is 9 to 18 months per company. Some companies will never distribute.

Distribution mechanics

Distributions accrue continuously to staked positions and are claimable on demand rather than pushed on a schedule. This keeps costs low at scale and avoids creating predictable sell events.

Distributions are variable and performance-dependent. Small business cash flow is lumpy. A company that distributes consistently for three quarters may distribute nothing in the fourth because of seasonality, capital expenditure, or reinvestment. Expect irregularity.

Each portfolio company may launch an associated token, backed by Mainstreet's real equity in that business.

The treasury allocation is locked in a public timelock contract with a published vesting schedule, verifiable on-chain, disclosed before launch. Roughly 25% of the vested position is emitted to staked $MAIN holders over the following year. The remainder is retained as treasury assets.

Mainstreet publishes a sell policy for treasury positions in advance of any sale, covering maximum share of daily volume, execution method, and notice period.

Cash flow routing

Of the cash Mainstreet receives from a portfolio company, the majority is directed to that company's token holders and the remainder to the treasury for the benefit of $MAIN holders.

Understand the scale

A company generating $2M in revenue at a 20% net margin, distributing half of net profit, produces roughly $200,000 in owner distributions annually. A 40% interest yields $80,000. Against a company token with a $5M market capitalization, that is a yield of approximately 1.2%.

Company token prices will be driven primarily by market sentiment, not by this cash flow. Evaluate them on that basis. The equity behind them is real, and it is not large enough to set a price floor.

Founding capital is contributed by the founding team. Token proceeds fund deployment into portfolio companies, operating costs, and reserves.

The treasury reports quarterly: capital deployed, positions held, distributions received, distributions paid, operating expenses, and remaining reserves. Portfolio company financials are reported in aggregate, with individual reporting subject to confidentiality terms in each agreement.

Treasury holdings of company tokens are marked at cost, not at market. A position in an illiquid token that cannot be sold without moving the price is not deployable capital and will not be represented as such.

Staked $MAIN holders vote on treasury deployment above defined thresholds, changes to distribution parameters, and structural amendments.

Sourcing and diligence decisions sit with the operating entity and are deliberately insulated from token holder vote. The reason is stated plainly: a token that needs cash flow creates pressure to favor whichever company offers the largest equity share, and willingness to give up the most equity correlates with weakness rather than quality. Investment decisions must not be driven by short-term token incentives.

Mainstreet is built on Solana. Stablecoin settlement is fast and cheap enough that distributing USDC to thousands of holders costs a rounding error, and that mechanism is what the entire model depends on. Distribution at this cost was not practical a few years ago.

Timelines are estimates and will move.

We would rather tell you this now than have you find out later. A standalone summary of these disclosures is maintained on the risk factors page.

Read the full risk factors →