If TTSLA trades < TSLA where does the extra yield come from?
If TSLA 5X or 10X tomorrow and the HE price doesn't follow the balance sheet of leotrategy (which owes future fixed yield to SURGE holders in HBD of 15% in perpetuity and has equity for LSTR holders) will be depleted more rapidly than we would like to fix the pricing issue for TTSLA holders.
I do understand that SURGE has a more senior liquidation preference to TTSLA holders and that's a good thing as a SURGE holder but if you give away our yield to support TTSLA's price then it's depleting some of SURGE's value proposition.
That seems like a big risk to take for SURGE holders relative to the proposed reward from issuing TTSLA.
I don't think suggesting LEO could grow at 100% a year for 10 years is impossible but I think other less optimistic scenarios could be presented to have more balance for other future write ups.
how is the 3% calculated is it based on TSLA stock price equivalent of TTSLA issued in USD *3%/365 per day and the paid accordingly in HBD or USDC?