> ## Documentation Index
> Fetch the complete documentation index at: https://docs.star.fun/llms.txt
> Use this file to discover all available pages before exploring further.

# Offshore DAO

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**Status: Available on request.** [Book a call](https://cal.com/adam-bergeman/founder-call) to set it up.

In the DAO structure, an offshore foundation holds the company IP and the token is the cap table. Ownership is fully liquid. Governance operates onchain through [decision markets](/founders/decision-markets).

## Properties

| Property     | Behavior                                                           |
| ------------ | ------------------------------------------------------------------ |
| Legal entity | An offshore DAO structure (for example BVI or Cayman) holds the IP |
| Cap table    | The token. There is no traditional equity                          |
| Governance   | Decision markets govern the treasury and major decisions           |
| Trade-off    | You cannot sell conventional equity later                          |

## How it works

1. An offshore foundation (for example a BVI company with a Cayman SPC) is created for the project.
2. The founders assign the project IP to the foundation.
3. The token becomes the ownership of the foundation. There is no separate equity class.
4. [Decision markets](/founders/decision-markets) govern the treasury: raised funds, trading fees, and revenues.

## What holders receive

The holder owns a share of the whole project, not a claim on it. Governance rights and treasury exposure travel with the token. The position is liquid from the first block.

## When to use it

Use this structure when you build fully onchain and do not plan a traditional venture path. The trade is permanent: with the IP in the foundation, there is no conventional equity to sell to a VC later. Teams that want both paths should read [Revenue share](/founders/revenue-share) or [ACE](/founders/ace).