Wrapping NFT (wsWPFT)

What is wsWPFT?

Users can choose to Wrap their sWPFT, which converts it to a standardised ERC20 token.Users can also unwrap their wsWPFT tokens to receive sWPFT at any time.

Why is this relevant?

In many countries, there is a clear distinction between Income Tax and Capital Gains Tax.

• Income Tax applies to regular income, usually received for work done.

• Capital Gains Tax applies to money gained from (for example) the sale of an asset like a house or investment.

In many cases, Capital Gains Tax is lower than Income Tax, and so it may be dilligent to make it as clear as possible to the taxation authorities of your country/jurisdiction that you are receiving a capital gain.

How does it work?

Users can wrap their sWPFT tokens on our dApp.The wsWPFT token price is calculated as follows:sWPFT Price * IndexsWPFTPrice∗IndexThe price of sWPFT is always equal to the price of WPFT, and the Index is a number used to track the value added to a staked token by rebases. Therefore, the price of wsWPFT will change as if it were rebasing, without needing to rebase.