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What is the fair market value (FMV) of 70 million $pKLIMA held by @OlympusDAO treasury?
A thread exploring:
- What is $pKLIMA?
- How $pKLIMA to $KLIMA conversion happens?
- Assumptions and inputs needed to assess FMV of $pKLIMA
- What $pKLIMA means for $OHM market cap
A thread exploring:
- What is $pKLIMA?
- How $pKLIMA to $KLIMA conversion happens?
- Assumptions and inputs needed to assess FMV of $pKLIMA
- What $pKLIMA means for $OHM market cap
1. What is $pKLIMA?
$pKLIMA is like $pOHM, it is a call option with a strike price of one Base Carbon Ton (BCT).
Just like 1 $OHM has to be backed by at least $1, 1 $KLIMA has to be backed by at least 1 BCT.
Converting 1 $pKLIMA to $KLIMA requires giving 1 BCT to KlimaDAO.
$pKLIMA is like $pOHM, it is a call option with a strike price of one Base Carbon Ton (BCT).
Just like 1 $OHM has to be backed by at least $1, 1 $KLIMA has to be backed by at least 1 BCT.
Converting 1 $pKLIMA to $KLIMA requires giving 1 BCT to KlimaDAO.
2a. How $pKLIMA to $KLIMA conversion takes place?
Just like $pOHM! To convert a $pOHM to $OHM, the holder pays $1 to the Olympus treasury and gets $OHM in return. This conversion is capped at 11.8% of supply.
For $pKLIMA replace $1 with 1 BCT and replace 11.8% with 3.5%.
Just like $pOHM! To convert a $pOHM to $OHM, the holder pays $1 to the Olympus treasury and gets $OHM in return. This conversion is capped at 11.8% of supply.
For $pKLIMA replace $1 with 1 BCT and replace 11.8% with 3.5%.
