memecoins

Just a nerd deploying solutions, systems & ideas. Professional yapper on theatre, nonprofits, compliance & economics but not your attorney. [/chungus] [/oz]

For those who don’t understand how people both give to a cause and deduct it from their taxes it works like this:

Step 1. Get a basket from @basketdotfarm of tokens you can donate.

Step 2. When in profit, you incur capital gains taxes assessed when you take profit or swap. For donating, the value assessment is at time of donation.

Step 3. So you donate a portion of your tokens to a 501(c)(3) charity and claim the contribution against capital gains tax during highs, and hold tokens you can donate when low.

This way, even memecoins can continue to build a latent, codeless, social utility that’s a value driven community good no matter the market conditions and no matter when you close your position.

Oh. What about a … Lossy YEAR scenario? Imagine the utility of combining cap loss with donations. What are taxes? Do you even Kiyosaki? 😮‍💨

Baskets for a good cause! 💚 

Projects like this make us very proud of our community 🫶