Work in progress
Is a circular mindset.
It’s a reminder that there is no destination to arrive at. No end goal.
I-AM already enough. (So are you)
This is how I reframe self doubt.
All this frame asks of you -
“Do the work”
WE'RE GIVING AWAY 2 TICKETS TO THE #FIFAWORLDCUP 2026™ FINAL 🏆🏟️👀
1. Follow @KrakenFX
2. Repost this post
24 hours only. Winner will be contacted via DM. Keep them open. You'll have 2 hours to respond or we'll redraw.
T&Cs apply. Good luck!!
HMRC in the UK is adopting new tax legislation related to crypto lending and liquidity pools.
Main take is that deposits into lending protocols will be treated as ‘no gain, no loss’ (NGNL), which effectively defers capital gains tax until an economic disposal. Also underlying collateral will be disregarded for capital gains tax purposes.
This is the right direction, mainly driven by the industry feedback demonstrating that any other approach would cause significant admin burden for the tax payer.
Positive about the HMRC approach because 1) it proves that the industry can affect the eventual outcome (similar how we did with the £20,000 stablecoin holding cap) and 2) seeing more tax legislation around DeFi means the space has progressed in meaningful way.
Ve-tokenomics is very powerful in aligning incentives of protocol participants, ensuring that protocol can live without any central governing body, probably forever. But at any point in time in, any project, there will be time when you'd want to "undo" ve-tokenimics (pressure from VCs, need of liquid money etc).
Undoing ve-tokenomics is a mistake. Implementing ve-tokenomics to be "downgradable" is also a mistake.
Very bad move by Pendle in the long term, but having it even POSSIBLE to make this move makes it inevitable!
@kmets_@aave It's a dammed if you do or don't type scenario. My whole spirit was tied to the tech, blockchain, immutability etc.
But, speaking to 'normies' - unless they have the red pill, it just doesn't translate. I've made peace with it.