> For the complete documentation index, see [llms.txt](https://docs.metalex.tech/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.metalex.tech/building-on-the-protocol/reference/contracts/safecertificateconverter.md).

# SafeCertificateConverter

Computes a plan for converting a SAFE Ledger Entry Token (LET) into equity, from a RoundManager's round data.

* **Source:** [`src/converters/SafeCertificateConverter.sol`](https://github.com/MetaLex-Tech/cybercorps-contracts/blob/develop/src/converters/SafeCertificateConverter.sol)
* **Implements:** `ICertificateConverter`

> **Stub.** The body of `computeConversion` is commented out, and the function returns an empty `ConversionPlan`. The intended algorithm is kept in the source as a comment. Do not use this contract for live conversions.

## Interface

```solidity
function computeConversion(
    address roundManager,
    bytes32 roundId,
    address certPrinter,
    uint256 tokenId
) external view returns (ConversionPlan memory plan);
```

## Intended algorithm (from the source comments)

1. Read the source SAFE LET's `investmentAmountUSD` and `issuerUSDValuationAtTimeOfInvestment`.
2. Read round data from the RoundManager: the cap table snapshot's `cCapUsed`, the rounding policy, the round price, and the primary security class and series.
3. Compute the SAFE price as `PMVC / CCap`, and take the lower of the SAFE price and the round price as the price basis.
4. Compute `shares = investmentAmount / priceBasis`, applying the round's rounding policy (floor, ceil or round-half-up).
5. Return a `ConversionPlan` with the share count, price basis, and target class and series.


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