The problem hoarder-app solves is that rugged assets are not liquid and therefore can not be sold.

We are working on a smart contract that buys any NFT or ERC20 token for a very small amount of ETH. Only a realised profit (or loss in this case) is tax-deductible in many countries. So many of us experienced rugs pulls, scam coins, fake DEX pools where we ended up with tokens that are worthless and without any chances to sell them again. The problem gets even bigger if we are talking about NFTs due to the lack of DEX listings.

We build on top of an already existing project from https://nftlossharvestooor.com/ and extended it’s features from NFTs to also ERC20 as well as improved the codebase, the privacy and some potential legal problem. The potential legal bug the NFT Loss Harvestooor had was, that it is possible to buy back the assets for the same price that you sold it and this could be interpreted from the tax office as that the asset was not actually sold but just stored or even hidden away in a smart contract. All transactions on hoarder-app are final and assets can not be bought back. As the name suggest this smart contract is a real hoarder that hoards everything that it bought over time.

Challenges you ran into

The biggest challenges we had where to figure out all the nitty gritty details. Including how the funding of the contract works. We decided in the end not to implement any funding feature as this might lead to income for the smart contract and could have tax implications for us.

Besides the legal questions we where struggling with some technical challenges that the mentors where a great help to us.

Technology used

Solidity was the main technology used in this project besides some smaller other frameworks for the frontend. The domain “hoarder-app.net” is already purchased but we are waiting for the domain provider to assign it to us.

Track

We decided to submit this project to “Freedom to transact” because it involves usually transacting with assets that nobody else is accepting. We are giving you back the freedom to sell your tokens if you want to or have to.

Excellence Award Track: Social Impact As this track is supposed to have submissions that help society as a whole. We belive that tax equality is a basic right. In countries where crypto gains are taxed also crypto losses should be appropriately be able to be deducted.

Links

Landing page: https://hoarder-website.vercel.app/ App: https://hoarder-website.vercel.app/hoard FAQ: https://hoarder-website.vercel.app/FAQ Contract: https://sepolia.etherscan.io/address/0x887b16a1b66a94432c2c63ef7ece69eef272bdeb - you will find HRD tokens already in the smart contracts. This is a token we created to test the app.

Will be migrated to: hoarder-app.net Once we got the final feedback from the judges, we will update the project accordingly, open source the repo and deploy on mainnet. Price money won will go at least partially towards funding the smart contract