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9 / 2. go to option-price.com and plug in the basic parameters (token px, call strike px, duration, volatility)

10 / et voila! we have an estimate for $ value of a call option using just 2 free websites

11 / we need to understand 1. crypto (specifically alts) are extremely volatile compared to say, US equities, which gives call options IMMENSE value 2. longer duration options are worth MORE $, and don't really relate to long term alignment. because, all risk can be hedged

12 / so now $SUSHI let's test our methods on some of the #phantomtroupe proposals

13 / here's

proposing to EXTEND the duration of the option which gives it MORE value and makes $SUSHI project WORSE off 2 yrs, $12 strike: $3.96 5 yrs, $12 strike: $5.73 btw, notice how awful these deals are for $SUSHI like, *really* *really* deep discounts

13 / here's a guy who gets it! we weren't even competing for this deal but at almost 90% discount (a free 5 yr call option) it's impossible to ignore

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makesy

@0xMakesy

Jul 18, 2021

re: @SushiSwap raise, giving VCs a free call option at 3-5x strike for investing in a hugely asymmetric bet at depressed price is even more insane than a discount. This is what @ARKInvest did and almost lost controlling interest as a result pionline.com/money-manageme @jdorman81

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14 / you know who knows how to price options? probably

@lightspeedvp

straight from the tech valley x bain playbook deeply discounted nice guys

15 / so anyway we have no fish in this tank but can see you're surrounded by sharks and like at least one person in 300 forum posts needs to say 'a free 2 year $SUSHI call option @ 2x strike is actually a 59% price discount' worse than the original (rejected) proposal

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16 / there's a gigantic logic leap that seems to happen with these treasury management deals " oh we can't agree on a price we both understand? then express it to me in a price i definitely don't understand, but you probably do " at least there'll be resolution

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17 / on repeat 'sounds like x, but secretly behaves as y' transformed and bamboozled vampire squid's new summer catalogue namazake

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SBF

@SBF_FTX

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