0x10dec36b…74ccsent to0xcf2f348c…b49a·#23,035,042·view on Etherscan
Providing some clarification on two aspects of the prop:
1. Wrapping stETH does not trigger a taxable event.
2. Switching to wstETH removes the daily accrual of staking rewards, which are generally treated as taxable ordinary income. Instead, rewards accrue through price appreciation, and taxable income may be deferred until the tokens are unwrapped or swapped for another asset.
While the exact tax savings will need to be determined later, the DAO currently accrues over $500 per day in staking income.