pre market price on $WLFI isn’t important due to shorting mechanic to hedge and lock-in profits from pre-salers. using perps, you can effectively lock in a sale price: hedging and locking in profits explained🧵 if I was a liquid firm who aped 10,000,000 tokens @ 0.015 at listing price (c.b $150k) @ 0.40 I am sat at a $4m position (UPNL 3.85m. if I want to lock this gain, I short the price I’m happy with. In this case it’s a 20% unlock, so I short 2,000,000 tokens @ 0.4. now if price goes higher than 0.4, this is offsets short losses by the gains I made by token appreciation. if price drops, the unrealised token losses are offset by short PnL. basically meaning whatever price I decide to hedge at, is my exit. this is exactly the same as liquid firms who bought size in $Pump, and then shorted perps. Obviously there’s funding to consider, but over a short unlock period this is generous. obviously with the hedging, it’s important that the fund allows enough money to not be squeezed on the short, which ruins this strategy. personally I didn’t bother to implement this strategy @ 40bn FDV, I believe it can go higher, but just my two cents.