Delayed: $FKIM's official #Solana launch is postponed due to significant congestion on the Solana chain. We await a rumored April 18th hotfix from Solana developers. Your patience is appreciated as we strive for a seamless and top-quality debut.
Seeing mad confusion about airdrop taxes on the tl.
Considering we've had a helluva week for airdrops, I'm going to drop a series of threads to clear up the confusion.
First, how are airdrops taxed?
This depends on where you live.
In the US it's taxed as income at the fair market value when you receive the tokens.
Ex. if you claimed 420 $TNSR at $1.8 per Tensor you have $756 of income.
In Australia, if it's the token genesis event, then it's a $0 acquisition and you only pay capital gains tax when you sell.
Ex. Season 1 $KMNO will be $0 income.
If the token already traded before the airdrop, then you owe income tax.
Ex. Season 2 $KMNO will happen after the genesis event, and is taxed as income.
Most countries have similar rules to the US & Australia with some nuanced differences.
Like in Germany you only pay tax on the airdrop if you provided some type of service to earn it.
Ex. even $KMNO season 1 you might have to pay income tax if you got the creator allocation for writing a post about the platform.
It's important to know how your tax office treats airdrops so you can strategize your exit plan accordingly.
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in the solana trenches.
found @brainfartsol on pumpfun. art looked sick. was sus so i asked dev to send me screenshots of design screens lmao.
it's pumping now, art is sick vibes are original $250k
https://t.co/Fau7BFDBdr
If I told you right now, there was a coin on Solana that was gonna moon 10X, GUARANTEED, and I give you the contract address…
Would you already have your Phantom wallet strapped with capital, ready to go? ✅❌?
Understand and know how to use Jupiter or BonkBot to get in? ✅❌?
Understand and know where to watch the chart? ✅❌?
Understand and know how to sell once it pumps 10X? ✅❌?
If you���re answering these questions no, you are UNPREPARED and will continue missing opportunities.
Crypto is ALLLLL about preparation with the expectation of huge opportunities.
But for some people, even if they knew guaranteed it was going to go up, they couldn’t even take action due to lack of studying.