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Quantitative Finance · Begrippenlijst

Wat is Token unlock?

Definition 24.3 Markets III: Commodities, Energy and Crypto · Hoofdstuk 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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