Evaluating risk of joining a seed stage startup

How do you evaluate the risk and the potential of the offer from an early-stage (seed stage done) startup in India?

For example (hypothetical), a seasoned leader / founder is starting a new startup in fintech industry (e.g., next zerodha, etc). They raise 10 million USD at 30 million USD post-money valuation.

I took fintech as example specifically to ensure it's not only engineers that will be needed from the beginning.

• Now, If I were to join as a founding team member (founding engineer for example), what kind of salary, ESOPs one should expect as minimum?

• If I were to join after 2-3 engineers are already hired (so not founding engg anymore), what is realistic expectation?

• What are some questions I must ask to evaluate if the offer and equity I am being given is good or not.

(I know there's probably no way to generalise a "good/bad offer" as that likely depends also on very specific situation of the startup - like what problem is it trying to tackle, and what is the potential of it, etc. So feel free to share your experience as well if not advice)