Ask HN: What are the SAFE terms on the “Standard Deal”?

In short, the YC &quot;Standard Deal&quot; [1] is $125k in return for 7% of the company using a post-money SAFE. How they get that 7% is a bit confusing... There is not a predetermined cap and&#x2F;or discount on the SAFE? That is, without knowing the terms of the later priced round where the SAFE converts, what SAFE terms define a 7% equity stake?<p>[1] https:&#x2F;&#x2F;www.ycombinator.com&#x2F;deal&#x2F;