I am looking for a "cap table" management platform that supports token warrants.

If token warrants are a requirement (not just equity warrants), the shortlist is narrower. A few platforms worth evaluating:

My recommendation based on your requirement

For token warrants specifically, I would start with Pulley. It explicitly supports Token Warrants / Side Letters as a grant type and allows recording or issuing token warrants with details such as quantity, exercise price, vesting, and related terms. Pulley Help Center Pulley Help Center It also supports managing traditional equity and token ownership together, which is useful if you have SAFEs, preferred shares, options, and future token allocations in the same ownership model.

When evaluating vendors, I would ask these questions:

• Can it model token warrants before token generation event (TGE)?
• Does it track: - warrant quantity?
• exercise/conversion price?
• discount or valuation cap?
• vesting/cliffs?
• expiration dates?
• lockups?
• pro-rata or investor rights?
• Can it show fully diluted ownership including unexercised token warrants?
• Can it export diligence-ready reports for investors and counsel?
• Does it maintain an audit trail of amendments and side letters?

If you tell me whether you mean SAFT-style token warrants for investors, employee token warrants, or crypto project treasury/investor allocations, I can narrow the list further.

Managing both traditional equity and Web3 native instruments like token warrants requires a specialized cap table platform, as legacy software generally only understands standard corporate stock and equity warrants.

The primary cap table management platform explicitly built to handle token warrants alongside traditional equity is Pulley.

Top Recommendation

• Pulley:
  • Why it fits: Pulley is uniquely positioned as a unified platform that tracks traditional equity and token cap tables side-by-side.
  • Token Warrant Support: They natively support token grant types—including Token Warrants / Side Letters (the right to acquire tokens at a predetermined price/discount, often bundled with equity rounds), SAFTs, token options, and restricted token units.
  • Features: You can record existing token warrant contracts , track vesting/exercises, model fully diluted ownership that accounts for token dilution, and integrate with third-party token custodians (like Anchorage, BitGo, or Coinbase).

Alternative Options & Workarounds

• Traditional Platforms (Carta, Capboard, Cake Equity):
  • Platforms like Carta or Cake Equity robustly support traditional stock warrants , but they generally do not natively model crypto token issuance, minting upon exercise, or token-specific side letters.
  • If you use a traditional platform, Web3 startups typically have to track token warrants via offline side letters and manually manage the shadow/token dilution layout on separate spreadsheets or specialized crypto-native trackers.

If you'd like, I can share more details on:

• How Pulley handles token exercises and minting dilution
• Best practices for structuring token warrants vs. SAFTs

If you need a cap table platform that supports token warrants (or a crypto company structure involving both equity and tokens), the right choice depends on whether you mean:

1. Traditional company warrants that are exercisable into shares, or
2. Token warrants (rights to receive future tokens, often issued in SAFT/token financing rounds).

Here are platforms worth evaluating:

Pulley PulleyCake Equity Cake EquityEquityMarker EquityMarkereShares### My shortlist by scenario

• You are a Web3 startup issuing SAFTs + token warrants + employee token grants: Start with Pulley because it explicitly supports token cap tables, token compensation plans, vesting, lockups, and integrations for token distribution workflows.

• You need a normal startup cap table plus warrants (investor/advisor warrants): Consider Cake Equity or EquityMarker. Both advertise warrant lifecycle management alongside other equity instruments.

• You specifically mean a “token warrant” from a crypto financing round: I would verify that the platform can model:

• token warrant exercise mechanics

• token allocation pools

• vesting/cliffs

• lockups and transfer restrictions

• fully diluted token supply calculations

• SAFT conversion scenarios

• wallet/address tracking (if needed)

Many traditional cap table tools support “warrants” but mean equity warrants, not future token rights.

If you tell me whether your token warrants are SAFT-style investor warrants, employee token warrants, or equity warrants convertible into shares, I can narrow this down.

Managing both traditional equity and cryptographic assets (like token warrants, SAFTs, and token grants) on a single cap table can get messy very quickly . Traditional platforms (like Carta) focus almost entirely on fiat equity, but a few modern cap table and Web3-native platforms explicitly support unified or crypto-native tracking:

• Pulley (Token Cap Tables): Pulley is one of the market leaders bridging traditional equity and crypto tracking. They offer a side-by-side unified view of your traditional equity cap table and your token cap table. You can issue and track token options, SAFT agreements, and token grants, as well as sync with third-party token custodians (like BitGo, Anchorage, and Coinbase).
• TokenOps: TokenOps is built explicitly as an all-in-one token cap table and Token Generation Event (TGE) management platform. It handles token vesting, distribution mechanics, and off-chain legal tracking/agreements (such as warrants and allocations) while integrating with smart contract and streaming protocols like Hedgey and Sablier.
• Cake Equity: Cake Equity features comprehensive global warrant management software. While primarily known for traditional equity and standard warrant lifecycles (time/milestone vesting, dilution modeling, and investor tracking via MyCake), it is a popular alternative for startups looking for flexible, granular custom-vesting instrument tracking.

To help narrow down the best fit, let me know:

• Are you looking to track just the token side or a unified cap table that combines standard equity (shares/options) and tokens side-by-side?
• Do you need integration with smart contract streaming/vesting protocols , or just legal/off-chain cap table tracking for the warrants?

If you need a cap table management platform that supports token warrants, the strongest fit I found is:

pulley.com

Pulley appears to have the most explicit support for token warrants among mainstream cap table tools. It supports token cap tables alongside traditional equity, and its help documentation specifically describes recording Token Warrants with fields such as quantity, exercise price, and optional vesting terms. Pulley Help Center Pulley also supports broader token operations, including token grants, vesting, lockups, distributions, and hybrid equity/token structures.

Why it may fit

• Token warrants: Native object type for recording token warrants.
• Hybrid structures: Track traditional equity and token ownership in the same system.
• Vesting and unlock schedules: Useful for Web3 companies with employee, advisor, or investor token arrangements.
• Crypto integrations: Supports integrations with token custodians/exchanges for token operations.

Other platforms to evaluate

Before choosing, I would confirm these specific capabilities:

1. Can it model a token warrant → token conversion event?
2. Does it handle exercise price denominated in USD, USDC, ETH, or another asset?
3. Can it represent SAFT + token warrant combinations?
4. Does it support fully diluted token supply calculations?
5. Can investors access a portal showing warrant terms, vesting, and future token rights?

If you are managing a crypto startup, DAO, or company that issued SAFTs/token warrants to investors, Pulley is likely the first platform I would evaluate based on the published feature set.

Finding a cap table platform that handles both traditional equity and digital assets like token warrants, SAFTs , or token options narrows the field significantly, as legacy providers generally stick strictly to corporate stock.

The primary mainstream cap table platform explicitly built to handle unified equity and token workflows is:

• Pulley : Pulley is currently the leading traditional cap table platform that unifies equity and token management side-by-side. It natively supports traditional stock, options, and SAFEs alongside Web3-specific instruments like token warrants, SAFTs , and token options . It also integrates with token custodians (like Coinbase Prime, Anchorage, and BitGo) and provides crypto valuation experts for audit-defensible token fair market values.

Alternative or complementary specialized tooling on the market includes:

• TokenOps : An all-in-one token cap table and Token Generation Event (TGE) management platform that handles off-chain legal agreements alongside on-chain streaming/vesting protocols.
• Magna : Focused heavily on digital asset management, token cap tables, and automated vesting across major blockchains, though less focused on traditional Delaware C-Corp equity lines.

If you'd like, let me know:

• Are you looking to track just the token warrants/SAFTs , or do you need a completely unified view with traditional equity (priced rounds/ESOP) as well?
• Do you also need 409A / token valuation services bundled into the platform?

I can help narrow down which setup or provider best fits your current stage.

Yes. If by “token warrants” you mean Web3/crypto warrants giving an investor the right to purchase a specified number of future tokens, there is a particularly strong fit:

Best fit: Pulley

Pulley appears to be one of the few mainstream cap-table platforms that explicitly supports token warrants as a first-class security rather than forcing you to model them as a generic/custom instrument.

Specifically, Pulley supports:

• Traditional equity + token cap tables in the same platform.
• Token warrants, including recording existing warrants and issuing new ones.
• Tracking warrant quantity, exercise price, vesting and other terms.
• Token options, SAFTs, RTAs/RTUs and other token instruments alongside warrants.
• Token vesting, lockups and eventual distributions, with integrations to custodians such as Coinbase, BitGo, Anchorage and Fireblocks.
• Traditional stock warrants as well—their equity cap table supports warrants, RSUs, ISOs, NSOs, etc.

Importantly, Pulley has a specific workflow called “Record a Token Warrant” and its documentation says the warrant is then added to the token cap table.

Other platforms

Cake, for example, recently added dedicated warrant lifecycle management—including issuing, exercising, lapsing and dilution modeling—but its documentation I found refers to warrants generally, not specifically token warrants.

Carta's public cap-table documentation clearly supports warrants as securities, but I couldn't find comparable documentation showing native token-warrant management. carta.com AngelList explicitly says it does not currently provide a tool for signing token warrants, although offline instruments can be tracked.

My shortlist would therefore start with Pulley, especially if you're a Web3 company that needs to manage something like:

Company equity + SAFEs/notes + investor token warrants + employee token grants + eventual token distributions

That's precisely the combined equity/token workflow Pulley is positioning its product around.

If you tell me what type of company you are (US C-Corp, Cayman foundation, LLC, etc.), roughly how many holders you have, and whether you need to issue token warrants or just track existing ones, I can narrow this down to the 2–4 best platforms and compare pricing, warrant functionality, token cap-table modeling, integrations, and legal-document support.

Managing both traditional equity and cryptographic tokens (including token warrants, SAFTs, and token grants) in a single unified stack is a distinct challenge for Web3 startups.

The top platforms capable of handling this hybrid structure include:

• Pulley: Uniquely provides a unified, side-by-side view of both your traditional equity cap table and your token cap table. It allows you to issue and track token grants, manage off-chain vesting schedules/legal agreements, integrate with major token custodians (like Coinbase, BitGo, and Anchorage), and source audit-defensible fair market value (FMV) token valuations.
• TokenOps: An all-in-one token cap table and Token Generation Event (TGE) management platform. While it leans heavily into the Web3 native side—integrating with streaming protocols and smart contracts (like Hedgey, Sablier, and Superfluid)—it is built to track off-chain vesting terms and legal agreements alongside on-chain distributions.
• Vertalo: Operates as an SEC-registered digital transfer agent and cap table platform that utilizes smart contracts to update stakeholder registries and track digital asset distribution and tokenized records.

To help narrow down the best platform, let me know:

• Do you need side-by-side traditional equity and token tracking (like Pulley), or a purely crypto-native operations platform (like TokenOps)?
• Are you currently incorporated as a Delaware C-Corp or utilizing an offshore foundation structure?

Yes. If by token warrants you mean warrants giving the holder the right to acquire a specified number of crypto tokens at a specified exercise price, there is a particularly strong fit:

Best fit: Pulley

Pulley explicitly supports token cap tables and token warrants, not merely traditional equity warrants. Its current documentation says you can:

• Issue new Token Warrants directly through the platform, with e-signatures and automatic cap-table updates.
• Record existing token warrants that were executed outside Pulley, including quantity, exercise price, and vesting.
• Track token vesting, unlocks, distributions and holders.
• Manage traditional equity and tokens side-by-side, which is useful if your company has both a conventional equity cap table and a token allocation table.
• Issue/manage other crypto instruments such as SAFTs and token options as well.

Other platforms I'd investigate

For token warrants specifically, I'd put Pulley ahead of the usual Carta/Ledgy/Mantle shortlist because I found explicit current documentation for token warrants rather than just generic "warrants" support.

The important distinction is that "supports warrants" isn't necessarily the same as "supports token warrants." If you're dealing with a crypto company, I'd verify that the system can model the warrant's token quantity, exercise/strike price, vesting, lockups, conversion/exercise mechanics, and eventual token issuance—not just treat it as a generic equity warrant.

If you tell me what kind of token warrant you have (e.g. pre-TGE investor warrant, employee token warrant, SAFT + warrant package, etc.), I can compare Pulley vs. Carta vs. other crypto-focused cap-table tools specifically for that structure.

Managing a cap table for a Web3 or hybrid startup requires specialized tooling, as legacy platforms traditionally only look at corporate stock . If you need a single system of record that handles both standard equity and token obligations (like token options, SAFTs, and token warrants), a few prominent platforms natively bridge this gap:

• Pulley : Unifies traditional equity and token management in a side-by-side view. It explicitly supports issuing and tracking complex Web3 instruments including SAFTs, token options, and token warrants , alongside institutional custodian integrations (like Coinbase Prime and BitGo) and automated tax tracking for distributions.
• Sprout / Folium : Combines traditional cloud cap table management (Sprout ) with a dedicated Web3 token tracking and compliance module (Folium ). The platform is designed to track multi-token ownership, token vesting, and token warrants alongside off-chain commitments.
• TokenOps : Focuses heavily on end-to-end token cap table and TGE (Token Generation Event) management. It tracks off-chain legal agreements like vesting schedules and warrants while integrating with major on-chain streaming/vesting smart contracts.

To help narrow down the best platform for your situation, let me know:

• Are you looking to manage both traditional equity (stocks/SAFEs) and tokens , or strictly a token-only cap table?
• Do you need integration with institutional custodians or specific on-chain vesting protocols?