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1 Markets I: The Ecosystem and Exchange-Traded Marketsالأسواق عبر الإنترنت 2 Markets II: Rates, FX and Creditالأسواق عبر الإنترنت 3 Markets III: Commodities, Energy and Cryptoالأسواق عبر الإنترنت 4 Quantitative Methodsالأساليب عبر الإنترنت 5 Derivatives and Volatilityالمشتقات عبر الإنترنت 6 Rates, Credit, XVA and Riskالفائدة والائتمان والمخاطر عبر الإنترنت 7 Research Craft: Predictors, Backtests, Measurement, Portfoliosالبحث عبر الإنترنت 8 Strategies I: Equities and Futuresالاستراتيجيات عبر الإنترنت 9 Strategies II: Volatility, Relative Value, Macro and the Bank Desksالاستراتيجيات عبر الإنترنت 10 Microstructure and Executionالتنفيذ عبر الإنترنت 11 Market Making and High-Frequency Tradingصناعة السوق عبر الإنترنت 12 Machine Learning for Marketsتعلم الآلة عبر الإنترنت 13 Low-Latency Softwareالتكنولوجيا عبر الإنترنت 14 Networks, Hardware and Trading Infrastructureالتكنولوجيا عبر الإنترنت 15 Research, Data and Risk Platformsالتكنولوجيا عبر الإنترنت 16 The Desk and the Firmالشركة عبر الإنترنت 17 The Industry: Firms, Roles and Careersالمسارات المهنية عبر الإنترنت 18 The Interview Bookالمسارات المهنية عبر الإنترنت
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Quantitative Finance · المسرد

ما معنى Token unlock؟

Definition 24.3 Markets III: Commodities, Energy and Crypto · الفصل 24 — The Crypto Trading Business

A token unlock is the scheduled release, from a lock-up, of tokens allocated to a project’s team, investors or treasury, after which their holders may sell them.

The fee implied by the tutorial’s listing deal (2% of supply lent for a year at a listing price of USD 0.50, calls on a third each at 0.75, 1.00 and 1.50) as a function of the token’s volatility (). At 120% the calls are worth 26% of the loan. Illustrative deal. Data: the chapter’s tutorial.
Figure 24.2. The fee implied by the tutorial’s listing deal (2% of supply lent for a year at a listing price of USD 0.50, calls on a third each at 0.75, 1.00 and 1.50) as a function of the token’s volatility (Proposition 24.2). At 120% the calls are worth 26% of the loan. Illustrative deal. Data: the chapter’s tutorial.
The market maker’s delta hedge on the listing deal: tokens to hold short against the calls as a function of the token price. It sells as the price rises (towards the 2 million tokens of the calls) and buys back as it falls. Data: the chapter’s tutorial.
Figure 24.3. The market maker’s delta hedge on the listing deal: tokens to hold short against the calls as a function of the token price. It sells as the price rises (towards the 2 million tokens of the calls) and buys back as it falls. Data: the chapter’s tutorial.
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