RE: Tax Hacks: White Elephant Airdrop
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When I say "claim" for the staking thing I mean "it says claim SPS" and if you don't hit "claim" you can't do anything with that balance until you do.
Let's say its 10,000 SPS sitting there you accumulated over a year and you never hit "claim". It's not able to be moved or sold until you hit "claim button" to move it to be under your control.
Yeah they can still exploit it by making it so it is air dropped to you on Dec 31st for example and it's locked until 11:59:58 and at 11:59:59 it unlocks and creates a taxable event, and THEN they can troll you even more by then making it so it locks again 1 second after it was unlocked, and then it's locked for infinite years lol.
So they air drop you 10k usd of some shitcoin that you can't even actually claim to sell and it causes you a tax burden.
See you just brought up yet another attack vector.
Can you see how ridiculous it is that the way the frontend works determine how the taxes works?
What if the frontends of two platforms with the same backend were totally different?
What if two completely different backends had the same frontend?
There are SO MANY WAYS to exploit these rules.