Decentralized Finance - VENUS ou AAVE

Koinly Support
1

I used different applications to do decentralized finance

For example I used VENUS Finance

  • I deposited 1,000 USDT
  • I then borrowed 800 USDT
  • I deposited the 800 USDT

The result is the following in Koinly

  • Transaction: “Exchange” - from 1000 USDT to 100 VUSDT
  • Transaction: Deposit – 800 USDT
  • Transaction: “Exchange” - from 800 USDT to 800 VUSDT

Questions :
Should I leave the transactions generated by Koinly or should I modify them?
Is the “Deposit” transaction taxable? If so, how to make it not?

2

It seems to me that Koinly has captured your transactions correctly. The 2 “Exchange” transactions will be subject to capital gains/losses on the disposal of the USDT in exchange for VUSDT each time.

The “Deposit” transaction is not taxable and it shouldn’t be taxable. Koinly will have assigned the 800 USDT a cost base on the Deposit, that is all.

3

Mark, thank you for your reply