/biz/ - Business & Finance

>>56164828
I'm going to sue the shit out of those scammers.

>>56164828
What would I stake in the bootleg version of the product?

I'll be sure to buy into the deep liquidity of this project that has been doing between $60 and $3000 worth of daily volume.

>>56164903
If you weren't in V0.1 you wont be getting into V0.2 as the priority pool will automatically take all the LINK space when general access opens

>>56164898
is anyone actually preparing legal action?
maybe wait until the bull to get a legal fund ready
in saying that, if they pushed sdl above $2 through actually delivering results i would probably forgive them
now the project has same supply as lpl and lpl holders have same amount of tokens after the airdrop

>>56164903
they stake on your behalf so can be assured to get in

you get a liquid token so can sell when you like (unlike chainlink staking where you'll have to wait weeks to withdraw)

as it goes defi products will come so can deposit it like with steth, reth etc

>>56164929
Early access chads nay get to stake more but once general opens Sdl priority chads are getting in, and if they fill it up... pool's closed.

>>56164977
also for whales it's nice as they can deposit as much as they like and can avoid wallet limits

>>56164977
checked

We are so early

>>56164977
Converting LINK to stLINK is a taxable event, whereas staking LINK through the official platform is not a token swap.
Depending on the tax system it's better to not produce a taxable event every time you want to move your tokens.

>>56167791
>Converting LINK to stLINK is a taxable event
It's not. stLINK is a rebase token.

>Pool's clos-ACK

>>56167819
I don't think it works like that.
A token swap is recorded on chain and triggers a taxable event.
The tax man won't care about your excuses and just follows rules blindly.

>>56167856
Depends if it's a 'swap'.

Does LINK get swapped to stLINK or does link get staked and they give you stLINK?

>>56167910
its staked not swapped

LPL Chads WAGMI

>>56167916
Then stLINK would count as can airdrop. But that doesn't sound right. It might be a swap.

>>56167952
it counts as staked, when you unstake and sell it or swap it for something else, thats when you get taxed

>>56167995
>it counts as staked,
There is no *staked* for taxable events. The issue is that you get a token in return for staking.

>>56167910
It gets swapped yes because you withdraw LINK and receive stlink in exchange.
Take a look at a staking transaction on etherscan and compare it with a transaction on Uniswap.
stlink has its own contract, market and exchange possibility making it into a separate token.

>>56168036
Jonny Huxtable: Sure. So when depositing LINK into the pools, users will receive the staked receipt token stLINK. This token is rebasing, always stays 1:1 with the underlying LINK collateral and users are then free to use and move around that token as they please.

https://medium.com/defiraccoons/ama-recap-stake-link-9c4a72f46528#51eb

>>56168036
>withdraw LINK and receive stlink in exchange.
You mean deposit

>>56168085
Withdraw from your wallet.

Your wallet is the source of the transaction used for taxation.
LINK leaves your wallet and is exchanged for stlink, generating a taxable event.

>>56168081
This is called a token swap.
It's the same principle as when you deposit LINK on Aave and receiev aLink.d
Depositing LINK on Aave is thus a taxable event.

Bancor didn't have this issue because they didn't give you a token in exchange and worked like a CEX.
The current taxation for token swaps make DeFi worse than CeFi for staking...

>>56168081
stLINK won't necessarily always stay at 1:1.
If a node gets slashed stlink will be less than the original amount of staked link.
v0.2 introduces slashing for nodes but it seems Jonny forgot to plan for that scenario.

Defensive testing and architecture should be the default for crypto projects...

>>56168125
Hmm that does seem like something someone should mention to jonny, or on their twitter...

>>56168216
I am sure that everything will work out fine and won't explode in Sergey's face at the most critical moment upon the release of staking v1.0.

“Those who cannot remember the past are condemned to repeat it.”

>>56168253
What does this have to do with sergey?
>>56168107
What is the value of stLINK?

>>56168313
Imagine releasing your awaited staking v1.0 and the final official version of CCIP with full security and at that moment a third of your most trusted nodes run into an issue because of inappropriate architecture which failed to plan for a worst case scenario of a node slashing.

This failure gets the full amount of media coverage on every possible VC owned media (everything) to explain how Chainlink is a failure and failed to make a secure architecture for their nodes.

BTC dumps -20% upon the release of this news and people start to panic.
Chainlink goes back to its range despite the Swift adoption and growing usage.

>>56168313
In a worst case scenario the value of stLINK is 0.
There is no insurance mechanism, or anything planned in the case of slashing.
Owning stLINK is more risky than having unstaked LINK only.
Is 5% a proper interest rate for that risk when compared to slashing risk free community staking? No...

Is 5% an acceptable interest rate on staked collateral with staking v1.0 when the risk free FED base rate is 5.5%?
No
A high risk investment should pay 2 times the interest of a risk free one.
The interest paid for LINK staking should reflect proper economic conditions.
In this case the rate should be at least 5.5% with an included insurance against slashing or 10%.

>>56168345
>In a worst case scenario the value of stLINK is 0.
Im saying right now for those that staked with stake.link

>>56164828
I haven't claimed that og nft is that even worth anything?

>>56168356
The risk is already there with staking v0.2 as it enabled slashing for nodes but not for the community pool.

The question for you is to decide if the community pool will exist after staking v1.0 and it what form.
If the Chainlink Labs implementation is better than SDL then SDL will always be a higher risk platform.
If the community pool disappears SDL may become an alternative, but the lack of insurance and proper slashing mechanism will make it a high risk platform.

>>56168396
https://www.geckoterminal.com/eth/pools/0x1c899ded01954d0959e034b62a728e7febe593b0

I found a price for it for tax purposes. I will ask the team in discord about 1:1 peg and slashing.

>>56168457
Alright folks this is the answer I got.

>>56168484
KEK

Did you try asking AriAI?
Where does the LINK go when you put on the mask?


>>56168457
If you don't have a price from CMC or Coingecko you could use the price of LINK as a substitute.

>>56168107
> swapping is a taxable event
Literally isn't, i submitted my coinbase records and wallets for hmrc assessment and had nothing owed despite massive swaps, loans etc.

Guys what's the tax protocol with migrating to SDL and subsequent airdrops?

>>56168532
I don't follow the UK tax laws specifically.
There are multiple possibilities for your situation.
Maybe there is a specific tax accommodation for DeFi that is specific to the UK or the hmrc is filled with incompetent idiots.
I doubt they will double check everyone of your transactions.

Both are a possibility.
The government in general does not know what to do with complex crypto transactions and sometimes leaves a comment like the current tax assessment is a temporary judgement which may later change upon government tax decisions.

>>56168532
If you ask a crypto specialized lawyer the response you will get may be very different.
In my case it is a taxable event.

>>56168536
migration = token swap = taxable event
airdrop = taxable event with price taken on the day of the airdrop or 0 if it's an obscure shitcoin

>>56168536
Concerning airdrops there may be a difference if the airdrop requires a user action or is a free gift.
In this case receiving an airdrop requires manually claiming it which is a user action and depends on the ownership of another token.

Who exactly is the target market for sdl?Is the goal to get all the anons who bought link in 2018 and then went into a coma for 5 years?

100m or 1b?

>>56168532
There is also the possibility that you owned nothing because you lost money kek

>>56164828
So we just not going to talk about them Stealing from OG link pool holders? i lost 50k because of this shit

>>56168643
Imagine this.
The promise of paying 25% of their income to LPL holders cannot be cancelled until the company is declared bankrupt, but LPL unilaterally decides to stop paying it without declaring bankruptcy.
The debt owned to LPL owners keeps increasing over the years as the debt itself generates more interest.
After some time the debt owned to LPL owners is greater than the total value of the company.

LPL owner lawsuit asking to receive their due follows and the company is declared bankrupt.
After bankruptcy, LPL token holders receive the ownership of the company and all its assets.

>>56168734
jhonny still gets a job at CL and runs SDL. The only thing that will make it right is to ruin his reputation

>>56168643
You didn't get anything stolen from you, you invested early in a project that rolled with market challenges and LINK staking developments and adapted the ownership shares instead of crumpling and abandoning the project.
If you wanted a shitcoin to trade when you got in as an OG and just wanted to flip it for more LINK, you could have done that. But you didn't, the only person who stole from you is yourself by cucking out of selling or buying at a bad time.

>>56168758
nigger i paid for and funded a % of all LP node revenue. They could have paused rewards, instead they took my money built up market.link Naas, and other stupid shit, ran off with the money through jhonnys sallary while keeping the node going. Now he gets a job at Chainlink labs his own node,revenue from that node that i paid for, and gets to work on SDL and recive revenue from SDL. You are fucking stupid to think this is ok

>>56168750
What if Jonny goes to prison for 1 year because of his illegal actions against investors?
He is responsible for the illegal actions of his company after all.

Would he still get to keep his job at Chainlink and to run SDL?

>>56168536
Migration can be a redomination not a taxable event. However our lpl was cut in half so that changes things, so i did tax on it as a massive loss.

The airdrop counts as income tax. At the price you claimed it x amount you claimed.

>>56164828
Did slurp get approved and we get our tokens back?

>>56168795
you and i both know that wont happen.

>>56168799
That happened a while ago. We all got airdropped our other half. You just have to claim it on the website.

>>56168806
are there any announcements?

>>56168786
They could have abandonware'd your entitled ass, and then you'd have a right to complain.
You're just a whiny bitch.

>>56168804
You never know what will happen.
What Jonny sowed into the world will come back to him in the most unexpected form with the same energy.

If you want freedom you have to let go, and let the world deal with it.

>>56168839
they did you stupid twat. They only did the bare minimum to keep people from crying about it

>>56168851
Obviously not, since you're still whining

>>56168863
how big is you're sdl bag faggot?

>>56168868

>>56168872

>>56168914
Have a normie gif from google keyboard and realize wagmi

>>56168834
Go to stake.link and connect wallet. You should see notifications at the bell

Everything is fine!
See nothing is broken!

>>56168643
Jonny didnt steal shit, all you have to do is wait and your portfolio will be more than 50k, you have to remember that LINK has been crabing for over a year also...

>>56164828
>LINKcels climbing over each other to find someone new to send their LINK token bags to be locked up in exchange for nothing, while Sergey dilutes the market with more dumps for the next 5 years

Holy dog shit, you people are literal slaves.

>>56168952
nigger, i paid for lpl not sdl and its ten token changes

By the way now that we are all here can someone share tips for a side hustle?

>>56164956
along with a 99% price drop

I genuinely hate the link pool team
not touching this garbage

>5.17m SDL locked into reSDL
>142 NFT positions minted
The current average position is ~36,500 SDL
Still unsure if the average multiplier is 30.6/5.17 or (30.6-5.17)/5.17 but the degens are pushing the average multiplier higher.

Anyway I staked 90% of mine at 4y because I'm a >6 foot tall, >6 inch long, >6 figure income anyway.

Can I still claim nft and airdrop I haven't touched this shit since last transfer

Is there room. In the pool

>>56170571
Dude, you better claim that airdrop ASAP if it's the "I held LPL and didn't sell my SDL" double up.
The 180 day period for the slurp passing is extremely soon. After that, no more claiming.

Nah I have sdl but didn't we get more after that as an airdrop plus an NFT?

SHOULD I SLORP MORE POOLIES? The general conclusion was the horse rimmer fucked us smug og POOLIES so ive not looked into it again and just bought more official stinkers from Sergey

Was surprised to be rewarded with an airdrop. Checked this shit randomly and got a nice little bonus. The kick in the balls hurts a little less now.

Forgot how much lpl I had. Think it was 23.5k or something. Was feeling confident then got raped by diluton

>>56170736
Go ahead and call the police, they can't unrape you.

Can someone please explain this... Wtf is resdl.

Went from lp to lpl to sdl to resdl? Am I correct? The airdrop basically just doubles your poolies right... Then you can stake them for up to a 4 year lock up? Why? Are they paying out rewards from staking to resdl holders or just people who have deposited link in their pool. Fuck i thought I knew how this shit system worked... Airdrop and nfts now you update your nft to change your position in the pool jesus I'm confused

>>56172152
Unironically just ask Serg.AI
He clarified some of the reSDL stuff for me, but it seems like stSDL isn't something it's trained to even think about so don't look for any help analyzing the mechanics of the prior staking. If the AI could provide some extra clarity on the stSDL contract, even if it's now deprecated, it would be nice.

>people are still getting scammed by horserimmer johnny in 2023
it would be funny if it wasn't so sad

>>56172463
my SDL stack is earning me 75 LINK a year now
It might go down to 15 LINK a year if every possible SDL is staked as reSDL and the average multiplier stays the same.

>>56167819
>>56167856
>>56167910
if it's a different token you're getting taxed on this in NA. trust me I naively thought this too but no. Don't fuck yourself over anons tread carefully.

>>56170959
Such a limited understanding of reality

>>56172644
How much reSDL do you have?

Yay I get to waste more money on gas to transfer to some other dumb shit because horse rimmer couldn't calculate a year ahead again?
Wtf do I have to do to not get rimmed here?

>>56172644
will go down way more than that, only 5/100m sdl has been staked so far
>>56172439
stsdl was the old staked sdl token, if you staked then got the rewards, they've shifted this to nfts to represent your staked tokens now. so when you stake your sdl you get an nft in return
>>56169012
to be fair if the token gets back to $2 then it'll be same value. with the airdrop you get the same amount of tokens you had with same supply
of course though we've lost the rev share from linkpool node for good which is the main thing

>>56172808
yeah be very careful with taxes, a lesson we all learn
staking link with sdl is a taxable event as it's link -> stlink which isn't the case with chainlink community staking as you just a contract deposit
also migrating is a taxable event too
at least in usa and aus
however, with the low token price currently it might be a good thing

>>56173991
Are these NFT positions trading on Opensea yet?

>>56164828
how is this any different than the LPL scam from a while back?

>>56174047
there is a page autogenerated
https://opensea.io/collection/reward-escrowed-sdl
be interesting to see how that market goes, probably be illiquid as fuck
still quite useful, if you want to get out of position then can trade easily

>>56174074
the rewards here are straight from chainlink staking
linkpool rugged as they made a fucking naive decision back in 2018 by handing over 25% of their revenue to bagholders which was way, way too high
in saying that they could have talked with community and reduced it down to 5 or 10% or something or paused it but i reckon they just wanted out of it completely

>>56174084
someone who wants a project should make a frontend for this as will need to pull out the locked amounts and durations, i assume that opensea won't show this/be able to show it

>>56174084
Excellent. Yes! Very interdested indeed.

Got my stack locked up for 4 years, LINK in the priority pools and my spare SDL locked for 1year to take some profits during the bull market. 1000x is in the bag

>>56168786
This. I refuse to believe any anon shilling linkpool or stakedotlink is stupid or malicious enough to not be a literal linkpool wagie.

>>56174404
the only redeeming factor is that LPL was an out and out security, maybe a good decision long term if it would have fucked sdl
in saying that, the rug was my worst moment in crypto, the bear didn't phase me but that rug was brutal as fuck

>>56173991
The community circulating supply isn't 100m, there's probably years of incentives still before it gets close.
Chainlink still has 7m SDL, the community still has plenty of emissions to get. I don't think we're above 40m community SDL, I'm still using 30m circulating as the conservative pre-incentive emission figure.

>>56174404
Maybe we realize the community pool, while currently being like a 1940s community pool, can't last like it is forever.
You guys don't have Ozone and Turbo to help you guys to stop the priority pool from bulldozing whatever space the general access has left, it's not going to be like the movies.

>>56174735
ok lpl wagie
im just not gonna touch anything you guys do again
simple as

>>56174735
Sounds like you're saying you want niggers in the pool. That's how you get AIDS.

>>56174783
its a complete moon mission, just wait till staking v0.2 comes out youre going to see fireworks

>>56174816
I hope for your own karmic sake you dont fuck people over again

>>56164828
>https://twitter.com/stakedotlink/status/1704908884412907671
>We'll auto-stake on your behalf

Orly? And how will that be executed? A smart contract? Who wrote it? Is it audited? Or will it be executed by hand by jonny?

Either way, there is no way in hell I'm trusting my linkies to these scammers. I lost enough money when I trusted them the first time.

>>56174825
only good karma with SDL, wagmi

>>56174889
when the price goes back to $2 - $3 it will mean you lost nothing.. no money was stolen

>>56174813
The grassroots staking.chain.linkers are the ones who need Ozone and Turbo to stop the stake.link priority pool prep school from bulldozing general access, don't talk like you understand the reference if you don't god damn
Someday staking.chain.link will be like a 2023 public pool, and stake.link will be the gated community pool. Other people will get in, but at a cost.

>>56175024
*and the 2023 public pool in this scenario has security guards that get you guys out and back in line someday. Imagine if some people just stayed at the community pool for years, that wouldn't be fair.

>>56174889
the main thing i've learned with jonny is that he's technically competent but clueless business wise
it will use chainlink automation, as per jonny in tg
i'm guessing they got patrick to audit it, he does all their stuff
their node is still performing well, you see that they are always included in new feature testing etc which shows they're in inner circle

>>56164956
Hey retard you need money to sue a company…like a lot of money

We're pumping lads

I just locked 2k SDL for 4 years and it says I have 16k reSDL now. Is this true? Is it the same as SDL? Do I update my folio with this.. did I just do an 8x?

>>56175786
it's a multiplier for staking longer
your sdl hasn't increased, just your earning power
>>56175282
yeah i know just was some talk about it after it happened

>>56175786
you have the voting power and priority power of someone that has 16k SDL, when your lock period is finished thats how much you will recieve back

>>56176507
>when your lock period is finished thats how much you will recieve back
No your boost disappears as soon as you initiate withdraw, then you have to wait half the total time you locked in for before you get your funds.

>>56176512
This.

>>56176512
>locking any amount of money with a known scammer who constantly changes the tokenomics on a whim

you guys deserve get fucked

>>56164828
Yo!! biz is filled with LINK schizos once more, telling why I should stack more, the reason I stacked it up is because one of my fave projects, holoride had a meetup with 'em over it's Web3 oracle.
That aside my fave spans across GMX, RIDE, and KAS.