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Danica Swanson
@danicaswanson
Moxiesplaining Journal Day 24: Selling Fan Tokens What happens when people sell Fan Tokens? I haven’t sold any yet, and don’t plan to for quite awhile. I plan to lock when Moxie Power launches. But selling is the only way to realize gains, so I imagine most people will sell some of their holdings sooner or later. When that time comes, what factors affect the outcome? A few that come to mind: - every token sold slightly reduces the price for the next buyer/seller - 5% fee (2.5% burned; 2.5% to the Fan Token entity) - taxation (e.g., cost basis and capital gains tax on profits) - slippage (how to estimate?) In some cases it looks like sellers end up with a loss when they were (presumably) hoping to profit. Even after reviewing the docs I still feel unclear on what people end up with when they sell, so I'm hoping to learn in public. Thoughts...? (NFA, of course). (Moxiesplaining Journal is a daily window into my observations, learnings, and the view of Moxie from where I sit as a writer + editor).
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TaylorWebb.eth
@taylorwebb.eth
Yep, sellers would end up with a loss if the FT isn't worth 5% or more than what they bought it for. IMO, this fee is a positive overall for the ecosystem as it discourages short term speculative behavior. Traders looking to speculate on FTs on short time horizons are going to have a really tough time. I think this is a great thing as the whole crypto space needs to become more long term focused. I think I also remember hearing that the Moxie team was planning on making the 5% fee adjustable by the FT subject, but don't see anything on the docs about this. Anyone know if I'm remembering that correctly? cc @tokenstaker.eth
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antaur
@antaur.eth
hell yes to more long-term thinking. intending to lock much of my FT especially the farcaster network.
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TaylorWebb.eth
@taylorwebb.eth
nice, yeah I plan on locking a bunch of mine too 🤙
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