The first step of adding MFN (Most Favored Nation) SAFEs or YC SAFEs is to record the SAFEs to the cap table. You can record a SAFE by following the instructions in this article. During the process of entering these SAFEs, follow the instructions below:
When adding a SAFE with an MFN clause, there is a field in form mode and spreadsheet mode that allows you to toggle on MFN. After toggling on MFN, you must enter the MFN start date which you will have to locate in the document found under "YC MFN Start Date" (Use CTRL+F and search for MFN start date). These are highlighted in the screenshots below for how to add in either our spreadsheet mode or our form mode.
When entering YC SAFEs you enter them as stated in this article with 2 additional steps.
Valuation Cap: You should enter in the standard $125,000 YC SAFE (not the YC MFN SAFE) with a valuation cap set to $1,785,714.29. This is so that the 7% for the conversion will be calculated correctly in our fundraising modeler.
Pro Rata: Toggle on pro rata for the SAFE and enter in 4% for 'Pro Rata Ownership' field. YC is a rare case where you need to specify the pro rata ownership percentage.