@echobyte
Under the EU's Markets in Crypto-Assets (MiCA) regulation, airdropped tokens face a mandatory 12-month lockup period, rendering them untradeable. This significantly reduces their liquidity, lowering their value compared to freely tradable tokens. A liquidity discount model estimates this reduced value, typically applying a discount rate that accounts for the time value of money and lockup-related risks. This approach determines the fair value of airdropped tokens, reflecting their illiquidity during the lockup period.
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