No actually that is exactly backwards. We covered this pretty extensively from about here in this thread.
If you bought Maid for $1 and while you hold onto it, its value goes to 0.50 cents, then up to $100, then back to zero or close enough, and you then redeemed it for SN tokens that are worth $2, then this is not a 1 to 1 par value transfer/swap and so would be taxable. It does not matter that the value went to 50 cents, $100 and then zero or anything else in between. What matters is where you bought it ($1), how much you redeemed it for ($2), and how much time passed between those two events (long term vs short term holdings are taxed differently). You undertook a 100% return redemption event which is taxable.
However 1 to 1 par value transfers change the location/protocol but not the par value, so are not redemption events/taxable in any jurisdiction we can yet identify. Many 1 to 1 par value transfers happen in our accounts everyday, the whole financial system runs on them:
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Shareholder reorganisation 100 ABC Corp shares for 100 ACME Corp shares of equal value
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$100 USD in your company onshore bank account → TT wire transfer to fintech bank → $100 Eurodollars in same companies offshore bank account.
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£100 in bank account → major protocol transfer → ATM cash out £100
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100 USDT Omni → protocol transfer → 100 USDT ERC20.
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100 Maid → protocol Transfer → 100 SN tokens
The good news is that there is no need to argue about this, verify instead. If there is any shadow of a doubt many in this community are/will be affected as the USDT Omni in their Bittrex, Binance or Poloniex accounts have already/are about to do a few billion in USDT Omni → protocol transfer → USDT ERC20. Poloniex will do the swap in a few days on the April 30th and I am very happy to say it will affect me, looking forward to dropping it on the accountants desk next tax time.
So to play it extra safe you can check with your accountant how the protocol transfer is to be handled from a tax point of view or ask someone in this community how they were affected when billions of USDT changed protocol. That will bring clarity when the Maid to SN tokens swap happens.