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Yitong
@yitong
gm thanks for the doing the hard work of charting a path here! a few questions: 1. what kind of tax obligations should the DAO expect? would auction revenue be taxable? And will the DAO owe any back taxes? 2. how will sanctions checks work for bidders in practice? typically this involves KYC, but the post seems to suggest that the check can be done post hoc via chainalysis? If so, what happens if we find that a bidder was in fact a sanctioned entity? 3. have we considered removing the fork mechanism and NOT replacing it with a refund? the currently proposed refund mechanism means that the DAO is effectively extending downwards price protection to bidders
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Yitong
@yitong
want to again appreciate all the people who've worked on this! just asking questions to better understand the path forward here. thanks @noun40, @seneca, @el4d, @davidbr and all the folks who worked on this! can't imagine this was easy!
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Elad
@el4d
3. We can certainly discuss a no refund/exit world. To us it seemed very important to include; at least to have a viable solution the community can consider
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Elad
@el4d
2. AFAIK a check with Chainalysis at bid tx and reverting if the bidder is sanctioned should work
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datadanne
@datadanne.eth
also curious about 1, if auction rev is taxable and the dao would owe taxes for previous actions it seems like it would clear the entire treasury I think chainalysis has an oracle that could be used to block bids from sanctioned entities
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wylin💎↑
@wylin
1. Cayman Foundation Companies typically owe 47.7% tax on any US trade or business US entities i believe are closer to 28% but it depends on the final circumstances so can’t say
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