TGE & Launch Timeline for the Days Ahead

In Sweden, from what I understand, when tokens are burnt they will get the, accounting technical adjustment, value zero. When the airdrop happens the new token will be taxed 30% once realized and sold, as airdrops is seen as a gift and not a taxable event unless work has been done to earn them.

For example, running nodes in beta might be seen as work has been done to earn them, then that might be taxable.

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We have or had a thing called windfall gains. I am guessing this is like gambling wins, and would include airdrops that are realised.

We also have capital gains where the taxable amount is 50% of the gains. Condition is they are held for more than a year.

But I’d leave that to a tax professional to deal with

I am assuming here they will be considered business gains and taxed accordingly (sole trader is taxed at normal income rates)

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Check if it’s work when you participate in a prize game - that’s the beta. Also, if at the time of receiving the token airdrop it is not traded anywhere and its price is 0, 30% of 0 is zero from the perspective that most places charge tax events, i.e. the very receipt of the airdrop is also such, and selling it is a second tax event…


Check out the Dev Forum

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To me, the main point here is that there is a unique and closing time window during which your tax adviser might see opportunities to optimize taxes for you particular situation.

Hi Jim. Just a nudge to see if this information was given out elsewhere or still being collected. If it’s been given out can you please point to where i can find it.

Also I have another question to the matter: What will first new token listing price be from the foundation? And any details that factored in on determining this price.

You might not have to pay any tax on MAID but your cost price on ANT will also be zero and, depending where you live, taxable from there. But everyone’s tax laws and personal situation will be different.

In my jurisdiction and in my situation, it doesnt make sense for me to burn anything until I need to to do something with ANT.

Sorry, I just can’t get you that info at the mo. Some of it I just don’t have the bandwidth to gather at the moment, but other parts I just can’t give you ahead of time I’m afriad. You only have to wait until tomorrow though.

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@JimCollinson could you please clarify.

The new network tomorrow will be using real ANT on Arbitrum One?

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Real ANT on Arb One!

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Thanks @rusty.spork :tada:

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Upon network release, I assume we’ll need to update our antnode software. Will we also need to generate and use new Metamask addresses or can we use the same ones?

Will the rewards that we have earned be disbursed tomorrow too? Or do I need to go buy ANT to upload something :laughing:

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Yes you can use the same address

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We are not yet ready to distribute the testing rewards, so you will need to swap for ANT if you want to use it tomorrow

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You just need to ask @aatonnomicc nicely IME :laughing:

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Haha - that’s unexpected

Lets see if he is as generous with the real token :laughing:

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Not sure this holds true in this case now… Will be interesting to see how much nodes earn if the only ones holding ANT are maidsafe and how much uploading they will perform when it costs real money :upside_down_face:

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He was giving away value early, but I guess when the conversion to $ is real we’ll all see things differently.

That’s going to be one of the most interesting things about TGE.

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This has unwelcome echoes of the early days when I couldn’t get tokens to test my app :rofl:

At least this time I’ll be able to buy them, even though Autonomi have my tokens locked up in their wallet.

I hope this won’t take long.

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