@shl Agree with the sentiment but think you are drastically undershooting. 5 people, $100k on avg and they'll have 2-4 other jobs doing the same thing.
@waleswoosh@austin_hurwitz They've been saying that for 3 years. Almost as cold as the crypto x ai dead narrative. NFT's just haven't found their killer app yet, but it will come and OG projects will benefit. Educate us if you think we're off on the killer app comment, would love to hear your take
Remove the friction for creators, get more dApps and use cases, find more hits, bring in new users. You don't need everything built to 10x overnight if it's fast, easy and free to launch your idea.
One of the biggest challenges for L2 blockchains isn’t just onboarding dapps—it’s onboarding the RIGHT dapps for sustained daily active users.
Most dapps focus on the audience that’s already here: gambling/DeFi. This boosts transaction volume, but it doesn’t create habits that keep users coming back. The key is designing dapps that build engagement over time.
Think about apps you use daily on your phone—games, fitness trackers, streaming, shopping, productivity. What keeps you returning? Streaks, rewards, incentives.
🌍Duolingo has streaks.
📱Candy Crush has daily deals and a booster wheel.
💪MyFitnessPal tracks food and exercise.
You don't do these to "grind," you do them because you enjoy them and they become part of your routine.
L2s need more dapps that incentivize return visits in a way only crypto can. Build apps that don’t just exist on a blockchain—build ones that make blockchain a feature people return for.
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Crypto tax is broken in America.
The PENGU airdrop is a perfect example why.
And shows what we can do to fix it.
Yesterday I was tagged in a post by this user who got a $250k PENGU airdrop.
It's worth $90k today.
So they can just sell at a loss and not owe tax, right?
Wrong.
In the US airdrops are taxed as income at the fair value when you receive them.
This user owes income tax on the $250k value of their airdrop.
This pushes them into the 35% federal tax bracket meaning they will owe $87.5k in tax on this airdrop.
And since they claimed it in Dec. 2024 - they owe that on April 15th with their 2024 tax return.
Yikes.
Even if they sell today for a $160k loss, they can only use $3k of losses per year against income.
And if the price keeps dumping?
Double yikes.
Nobody should have to potentially pay more in tax than they have in their wallet.
In my opinion, taxing crypto airdrops, staking rewards, mining rewards, etc. as income at the value when received is ridiculous.
Crypto assets are extremely volatile - especially during their initial allocations.
If we wanted fair rules on crypto income tax?
At a minimum:
Any airdropped non-stablecoin tokens should be taxed when they're sold. Not when they're received.
I also think there are great arguments to be made that staking rewards + mined tokens should have the same tax treatment.
Tax them when they're sold.
But what do you think?
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