Asgard Dao

Wrapping (wsAsgard)

What is wsAsgard?

Users can choose to wrap their sAsgard, which converts it to a standardized BEP20 token. Instead of your token amount increasing, the value of wsAsgard itself increases. This allows you to gain the rewards you would normally gain from Staking, without having an increasing amount of tokens in your portfolio.
sAsgard cant be used to create LP where as wsAsgard can be used to create LP in Pancakeswap with any other pair .Thus you can earn more rewards from wrapping.
Users can also unwrap their wsAsgard tokens to receive sAsgard 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 or investments.
  • 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 would be diligent to make it as clear as possible to the taxation authorities of your country/jurisdiction that the income you receive from ASGARD is a Capital Gain rather than an Income.

How does it work?

Users can wrap their sAsgard tokens on our dashboard.
The wsAsgard token price is calculated as follows:
sAsgardPriceIndexsAsgard Price * Index
The price of sAsgard is always equal to the price of Asgard, and the Index is a number used to track the value added to a staked token by rebase rewards. Therefore, the price of wsAsgard will increase as if it were rebasing, without needing to rebase.