> ## 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.
# Overview
## What is an internet round?
An **internet round** is a new way for founders to raise their first round, right here on the internet. Founders raise lightning-fast rounds through **liquid equity** - you fractionalize a slice of your company and sell it into a liquid, tradable market. Investors get ownership and oversight over the funds they put in.
It's designed to get an app, agent, startup, or idea funded, with distribution built in from day one: your earliest backers become owners, and owners become your distribution.
The result is **speed + ownership + alignment**.
## How a standard round works
A standard internet round gives up **10% of your company's equity** (the equity link - customizable from **1%** to **30%**) - but that slice doesn't buy a single check. It entitles you to an ongoing package:
* **Up-front capital** when the raise succeeds - pick a self-serve preset: **\$10K**, **\$25K**, or **\$50K**
* **Automatic unlocks** of up to **\$8.6M** more - token positions along your price curve get bought as demand climbs, so market-cap growth converts into funding on its own
* **0.5% of every trade** of your liquid equity
You keep the rest of your cap table to raise from VCs later. An internet round fractionalizes and sells a slice of equity into a liquid, tradable market - it doesn't use up your ownership.
If the company is acquired, investors share in the upside. Raised funds sit in a treasury that
founders and investors govern together through [decision
markets](/founders/ownership#decision-markets).
All three presets (**\$10K** / **\$25K** / **\$50K**) are self-serve, each targeting a higher graduation market cap - see [Fundraising](/founders/fundraising) for the full mechanics. The **equity link** defaults to **10%** and is customizable directly in the flow, from a minimum of **1%** to a maximum of **30%** - a smaller link means you're raising at a higher implied valuation.
## Key benefits
Tokens are a real, tradable equity claim backed by Bedrock, not just a ticker.
Raise fast through a dynamic market sale optimized for speed and price discovery. Settle in
USDC.
Unlock up to **\$8.6M** in additional funding as your market cap grows.
Earn **0.5%** on every secondary trade of your liquid equity.
Distribute ownership to backers and team. It's liquid and tradable from day one.
Livestream your raise to investors on star and X - and keep backers updated with continuous
streams as you build.
## Who it's for
Internet rounds work best for teams who:
* Want to raise in **days, not months**
* Are comfortable building in **public**
* Care about **distribution** as much as capital
* Want a community of aligned owners, not just investors
Tokens are a powerful tool, but **timing matters**. The strongest rounds come from teams with a working product, early traction, and something people already care about.
## Going live
Livestreaming runs through the whole journey, not just the raise. It's how you turn attention into capital - and keep it.
Go live to pitch your round to investors on star and X, turning attention into commits in real
time.
Stream continuous updates and AMAs to your holders. Engaged backers stay close to the project,
and active holders drive the secondary volume you earn fees on.
Go live when you ship or cross a market-cap milestone, tying each unlock to a moment your
community can rally around.
## Where to go next
Raise economics, presets, milestone unlocks, and going live.
Bedrock equity-backed tokens and decision markets.
The application-gated, pre-ICO path.
What Star charges during and after a raise.