Glossary
DLOM
A reduction applied when valuing an asset that cannot be freely sold, such as a locked or vesting token allocation.
A token subject to a lock-up is not worth the traded price of an unrestricted token, because the holder cannot access that price. The discount reflects the time until release and the volatility over that period.
Volatility is the contested input. Digital assets are volatile enough that plausible assumptions produce very different discounts, so the methodology and its evidence matter more than the number itself.
Where this comes up
See also
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