My wMEMO questions and concerns

Support
1
  1. If MEMO which equals staked TIME causes inflation, then how dose wMEMO not cause inflation to?
  2. Why is there zero liquidity for MEMO on AVAX blockchain exchanges?
  3. why is MEMO and wMEMO’s prices different?
  4. and lastly, why is staked wMEMO not treated as income tax? surely it must still be classed as income tax under staking rules and regulations in many country’s?

if someone could answer these questions I will be extremely thankful and will possibly convert my MEMO to wMEMO!

Thank you for reading!

2

I suggest you read the white papers. A lot of your questions will be answered.

As for taxes, consult a professional. Not strangers on the internet.

3

@NalX I have read the white papers, It tells everyone how to wrap their MEMO but it dose not explain how wMEMO fixes the inflation problem.

4

@NalX thanks for the useless reply!

1 Like
5

Don’t buy MEMO. You buy TIME, or wrapped staked memo.

Make sure you don’t end up buying a scam token by mistake, or buying at the wrong price because some third party set up a liquidity pool with the wrong price.

As far as I am aware, you buy TIME on traderjoexyz.com

6

MEMO rebases are awarded daily and are effectively taxable events. If you hold memo you must pay taxes on all rebases… If you wrap it you don’t pay taxes on rebases UNLESS you unwrap, then all gains are taxable. So wrapping and holding will allow you to accumulate gains and not pay tax until you exit. hope that helps

7

Again, for taxes, consult a professional. Not strangers on the internet.

What you are saying could literally be false, In fact, a lot of people on the Discord will tell you it is. You can tell me you asked a pro and that’s what he told you. Good for you. Others have asked other pros and were told differently.