Yah. So, if you're looking to buy something protected by a RoFR, you get to make an offer... And, then you wait a few weeks to see if another party thinks it's worth more than that and takes it instead.
In practice it pushes down both liquidity and price.
It becomes this strange meta-game of having to guess what the likelihood of whether you're buying something. And, you lose out on any materially positive change that manifests in that time window. Indeed, the decision can be made even on the basis of insider information...
In practice it pushes down both liquidity and price.
It becomes this strange meta-game of having to guess what the likelihood of whether you're buying something. And, you lose out on any materially positive change that manifests in that time window. Indeed, the decision can be made even on the basis of insider information...