I will not promote: Regarding equity in startup as a experienced dev, should I take this

My friend invited me to a startup formed based on a AI product. Working product, couple of customers are onboarded too. I worked for a month. I do have a full time job, paid enough, mostly I choose this as a learn and grow opportunity. Company is looking for funding now, basically in a stage looking for funding. First founder asked me to come with share value, which I told 1.2%, then they came back they offer a salary value based on a hourly rate I suggest. I plan to work 14 hours per week. They doubled my salary value and did a valuation to me. I heard my friend and founder and 1 other person has shares in the company. Founder and others didn’t expose their share percentages too. Is this shady? , since no funds we all work freely now. I joined as an opportunity to learn. But will this backfire some point?