Forced TAX payment. Something to keep in mind

Sonic Network
#1

This token change forces us to sell our FTM tokens. For the owners of Fantom, which we bought a long time ago at low prices, this migration forces us to pay a lot of taxes.

Therefore, part of our assets will have to be diluted in paying taxes.

After the migration I will be forced to transform more than 25% of my position into paying taxes.

If i have $100.000 in FTM, After getting $S, I will have to sell $25.000 just to pay taxes.

And apart from harming me, it harms the ecosystem, since a lot of token is going to be sold to pay taxes.

My proposal is that they leave us a few years to migrate the $FTM to $S token with the 1:1 ratio to be able to decide the exact moment in which we want to sell our position.

6 Likes
#2

Hey Revertus!

Thanks for posting on the forum.

No user/holder can be forced to swap their FTM to S.

So far, from all of the proposals you can make this swap at your discretion. Whether it’s instantly when Sonic launches or later.

4 Likes
#3

I’m reading all this only now , Aug.20. I have $FTM in Trust wallet, and there is a note saying this token requires migration . Where can I find the info on how to migrate my $FTM ? And does that mean they get exchanged to $S sonic token 1:1? Kindly let me know. Thanks

1 Like