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Importing a SAFT or SAFE into 1st allows an investor to make a locked allocation tradable through mirror tokens, without changing the underlying vesting terms. Importing an allocation does not require the investor to sell. It simply makes the allocation liquid so that it can be traded if and when the investor chooses.

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Step 1: Verified project listing

No SAFT or SAFE can be imported unless the project is already listed on 1st through an explicit, verified listing agreement. This agreement is executed directly between 1st and the project and confirms that:
  • Mirror token trading is approved for the project
  • Imported allocations may be traded transparently on 1st
  • Vesting terms, token price terms, and allocation conditions are fixed
Imports are only possible for projects with an active, approved listing.

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Step 2: Allocation scope and terms are defined

The importing VC fund or investor works directly with 1st to define:
  • Which SAFT or SAFE they hold
  • The vesting schedule and token amount
  • The portion of the allocation to be imported
Allocations can be imported partially. Only the imported portion becomes tradable and eligible for fee participation. Any unimported portion of the SAFT or SAFE remains unchanged.

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Step 3: Project-side verification

Once the import scope is agreed, 1st verifies the allocation directly with the project. The project confirms that:
  • The SAFT or SAFE is legitimate and signed directly with the project
  • The allocation details and vesting schedule are correct
  • The agreement includes a valid token warrant
Secondary or synthetic claims are not permitted.

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Step 4: Execution of required agreements

After verification, the importing party executes the required agreements, including:
  • The mirror token tokenization agreement
  • The token forwarding agreement
These agreements bind the importing party to forward unlocked tokens according to the vesting schedule and ensure that mirror token holders receive underlying tokens as unlocks occur.

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Step 5: Mirror token issuance

Once agreements are executed:
  • Mirror tokens are issued in an amount equivalent to the imported portion of the allocation
  • Mirror tokens represent future unlocks only and follow the original vesting schedule
At this point, the allocation is fully imported.

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Step 6: Optional trading

After the market goes live, the importing party may choose how to manage their mirror tokens. They can:
  • Sell immediately using a market order
  • Place limit orders over time
  • Hold mirror tokens and receive unlocks as before
Importing an allocation does not require selling. If mirror tokens are held, the investor continues to receive token unlocks exactly as they would have without importing, with the added benefit that the position is now liquid and tradable at any time.