Cryptocurrency coins and tokens, classified as assets in many jurisdictions, incur a tax liability, depending on geographical jurisdiction. Authorities in the USA and UK calculate sales of cryptocurrencies as capital gains/losses, and in Singapore, it is estimated on top of income tax.
Cryptocurrency tax regulation is still in its infancy in many countries. We believe that by introducing $MYO as a utility token, we can help all DAO members and holders minimize any tax burdens, and minimize interest from speculators and traders who are only concerned with the economic nature of $MYO.
We believe the following use cases for $MYO help build a very strong case towards $MYO being classified as a utility token:
Enables members to gain access to DAO systems + marketing strategy playbooks
Enables members to gain access to Web 3 projects and bounties
Enables members to gain access to private gatherings and dinners during web3 conferences throughout the world
Enables members to receive crypto payment in exchange for work performed
Enables members to vote for DAO proposals & grants
Enables DAO members and outside parties to use $MYO to access Myosin’s user acquisition, user engagement, and user retention products.
Upon issuing $MYO in the public markets, we also plan to re-incorporate Myosin's current C Corp off-shore to a more crypto friendly geography.