Handling of staked tokens which are bridged into a new version of the token in other network

Koinly Support
1

Describe the problem:
I am wondering how the handle the following scenario (automatic import doesn`t solve that):

  • Staked the meme coin SPONGE v1 on their website (sending the coins to their address)
  • While staking, the SPONGE v1 was bridged from ETH to Polygon Network and released as SPONGE v2
  • It was then possible to claim the SPONGE v2 on Polygon

My current situation:
I have tagged the transaction where I staked v1 as “Add to Pool”. After I was able to claim the v2 on Polygon I got a new transaction, which I have marked as “Reward”. The issue now is, that I still have Sponge v1 shown in my Koinly account which don`t really exist anymore because they are part of the Reward, which I have got from the Reward/Claim of v2.
How can I “delete” the Sponge v1 tokens from my account balance without having a tax transaction?

Which exchange/wallet is this regarding?
Metamask ETH and Polygon

How did you import data into this wallet?
API

What have you tried to fix this so far?
see problem description

2

Hey @ChrisH

Thanks for your message! :wave:t2:

So here you want to “trade” the v1 for the v2. You can do this by:

  • In the ETH wallet, create a manual Deposit from the pool wallet for Sponge v1 and tag as ‘Remove from Pool’
  • Still in the ETH wallet, create a Send (withdrawal) for the full amount on the same day and time as the v2 Deposit
  • Remove the Reward tag from the v2 airdrop
  • Merge the Send and Deposit, it should now be a trade and transfer from ETH → Polygon (https://support.koinly.io/hc/en-us/articles/9917633901852-How-to-merge-split-transactions-manually)
  • If you believe it should be non-taxable, tag it as Swap.

I hope that helps! Let me know if you run into any issues. :+1:t2: