$XPL plasma is currently at the pre-market contract price, with FDV heading towards 9 billion, which is about 1/4 of trx. However, there is a 10% public offering unlock at the opening, and although U.S. users will not unlock, a significant proportion will certainly be unlocked by non-U.S. users at TGE. Looking at this price, it corresponds to about 800 million in selling pressure, which is quite large. 0.6 should be a key position, the doubling price for the public offering. A small short was taken at a low multiple, raising the hedging price a bit.