Ask HN: Got our first term sheet – SAFE with both valuation cap and discount

Hi, we’ve just got our first term sheet from a VC.

If we sign, they’ll be our first institutional investors. The term has both valuation cap & discount - is this used frequently?

The YC standard SAFE only has a valuation cap or a discount. I wonder if the term we’re getting is not the industry norm.

If not, would it be better to push to remove the discount, which means we might have to settle for a slightly lower valuation cap?

Thanks.