Proposed community grant for stake.tax to add support for Fetch.ai mainnet

Spend of Community Fund on Grant for stake.tax

Cryptocurrency holdings are liable for tax in most countries, and often held in complex financial instruments such as liquidity pools, loans, stake delegations and derivatives. Blockchains are typically slow and difficult to query using open source tools, which makes the completion of tax returns impossible for many token holders.

There are many different third-party applications such as Koinly and Accointing that provide records of transactions from a particular set of query addresses, and that allow users to easily prepare tax returns for the authorities in most jurisdictions. These applications support major centralized exchanges and established crypto ecosystems but do not currently support most Cosmos-SDK chains including the fetch.ai mainnet.

The developers of the stake.tax application have addressed this gap in tax services for several Cosmos-SDK chains including Atom and Luna and have offered to extend this service to the fetch.ai mainnet. The stake.tax application can be used to generate reports that can be used to prepare tax returns or act as an additional data source for existing tax accounting software.

We propose that 65,000FET from the current community fund (currently standing at around 530,000FET as of 21st of March 2022) should be used to fund the stake.tax dev team to support the fetch.ai mainnet, as this would provide a valuable utility to FET token-holders and increase the adoption of the Fetch.ai ecosystem. If accepted, the funds will be transferred to a Fetch.ai foundation address and paid in installments to the stake.tax team for completing the integration.