Technical Co Founder

So I'm working on this freelance project for about an year and I've scaled it to 50k users and built almost everything from scratch wearing multiple hats i.e looking after product, infra and marketing and the founder initially asked me for a C level position but I denied because ik I have lot to learn and I'm not after titles atm. FF, now I'm planning to ask for an equity and be a full time at the company (as we discussed initially) but I denied that too because for that I had to leave my Full time job and I was not sure about that, at this point I'm pretty much confident that it's time to go all in. It also might be kinda stupid decision because I denied a 20 LPA job but if not now then when.

So help me how should I take things? So if I ask for an equity I wouldn't be allowed to draw salary or something? I have no clue about these things. It'd be real helpful if someone can shed some light.

PS: it's a pre seed startup but yeah not much money in bank.