Adding $ Value of Rewards received

EnormousCloud / api3-dao-tracker

API3 DAO Tracker

https://enormous.cloud/dao/api3/tracker/

MIT License

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Adding $ Value of Rewards received #6

Open Real-DPR opened 3 years ago

Real-DPR commented 3 years ago

would it be possible to add the $ value of API3 rewards received (or the API3 price on the day the reward was distributed for what it is worth)? This means in the display of the individual wallet this value should be displayed next to the amount of COINS received. This would save a lot of effort down the track for the individual user.

Thanks

EnormousCloud commented 3 years ago

This is not a big feature to be added, however the tool tries to distance from any price suggestion

Today's price of reward has zero sense, you will receive your rewards in a year and the price will differ a lot.
While the rewards are locked they are literally worth $0 for you. They are basically issued to somehow compensate inflation in 1 year.
Displaying prices could mislead individuals, making them think they have these funds at their disposal and treat staking pool like a wallet.

so I will leave it this ticket open and will implement it only if it will gather some pressure from the community

Real-DPR commented 3 years ago

ok. no worries. It was more for Tax administration purporses. While you are right that I can use/ withdraw the coins in 1 years time, from a Tax point of view I become owner the day they are distributed (and with the value of that day). This is insofar relevant, as in many legislations holding COINS longer than 1 year has substantial impact on taxes (and therefore on profits). Obviously I can manually look up those historical prices in 1 years time, but as said including that in the API3 DAO Tracker would save some work. One could name the corresponding column 'theoretical market price' to ensure people are not mislead into assuming they have access to the COINS.

But I'll let the COMMUNITY decide, if this is a desired feature...

EnormousCloud commented 3 years ago

I believe from a tax events perspective you become the owner of the rewards only when they are released to you (meaning the last column on rewards screen). You are not holding these coins so far, you are just promised to have them one day.

2 unquestionable events where you should see the price for the tax purposes are your Deposits and your Withdrawals, and I will probably add average daily price there, in the events log one day. Rewards are questionable as different jurisdictions will treat it differently, but there is no doubt you shouldn't pay your taxes from what you don't have.

Real-DPR commented 3 years ago

yes but after 1 year I have them, and then it is better to pay fewer Taxes :D