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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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ArtStudio48
@artstudio48
I’ve sold some FTs as I was trying to gain funds to buy more expensive ones. One thing that happens is those high fees - didn’t keep track, but my take was significantly less than the value of the FT at the time. So would we very careful in the future. Also noticed that sold FTs are actually burned - so they are removed from circulation, and lower the total amount of FTs available; at least until someone buys again.
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Danica Swanson
@danicaswanson
Thanks. You said you didn't keep track, but if anyone else has an estimate, I'd be curious to know the approximate difference (percentage-wise) between the FT value at the time of the sale and the final take. Obviously it starts with the 5% fee off the top, but I wonder about the rest. For example, if someone is being super careful about selling and wants an estimate of what they'll end up with if they do, should they go with 85% as a ballpark figure? 80%? 75%? etc.
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