The Post-Money Valuation Cap SAFE from YC Template (this is the standard SAFE document template) the valuation cap is explicit.
Other versions of the SAFE are discount, where valuation is the priced round minus the agreed discount, or MFN (Most Favored Nations) where the SAFE holder gets the best terms of all SAFEs in that funding round.
Other versions of the SAFE are discount, where valuation is the priced round minus the agreed discount, or MFN (Most Favored Nations) where the SAFE holder gets the best terms of all SAFEs in that funding round.