Importing transactions from YouHodler

[morry040]

Describe the problem:
I don’t know how to classify Multi HODL transactions in my csv file.

Which exchange/wallet is this regarding?
YouHodler

How did you import data into this wallet?
YouHodler sent me an XLSX file that I had to adapt to the Koinly template.

What have you tried to fix this so far?
I’m posting this to seek confirmation from Koinly Support, but also to document my approach to others in case I am on the right track with my thinking.

I need help with importing transactions from YouHodler. I have used the MultiHodl feature that allows me take out long or short positions on currencies by providing collateral. My transaction file from YouHolder describes these actions as either “hold”, “unhold”, or “spent”.

Example 1: I place 100 XLM into “hold”. After a few days, I “unhold” my XLM but my long position was not successful and I only receive 50 XLM back.

Example 2: I place 100 XLM into “hold”. After a few days, I “unhold” my XLM and benefited from going long so that I know receive 200 XLM back.

Example 3: I place 100 XLM into “hold”. After a few days, I face a margin call and I lose my 100 XLM. This transactions is labelled as “spent”.

How should I label these transactions in my CSV upload?

Here’s how I think I solved for it…
YouHolder has the following “types” of transactions for standard use:
DEPOSIT = deposit
WITHDRAWAL = withdrawal
SAVING_EARN = reward

When using MultiHodl, the following types will be recorded:
HOLD when starting a MultiHodl.
UNHOLD when ending a MultiHodl.
SPENT when you face a margin call and lose your collateral.

Initially, I tried labelling HOLD transactions as “sent to pool” and UNHOLD as “received from pool”, but these were being listed as Deposit transactions that would increase my balance instead of having a net zero impact.
Given that MultiHodl is not really a staking pool, but rather a mechanism that uses your crypto as collateral to take out a whole chain of loans in the back-end (which have no detailed transactions in the YouHodler transaction history), I think the best approach is to ignore the HOLD and UNHOLD transactions and just specify the outcome of each MultiHodl as either income / loss.

To prep my upload file, I performed the following steps:

1. For situations where a profit was made, the UNHOLD amount will be larger than the paired HOLD amount. A new transaction will need to be created with an amount that is equal to the profit made. It should have the same timestamp at the UNHOLD transaction, but should have a label of ‘reward’.
2. For situations where a loss was made, the UNHOLD amount will be smaller than the paired HOLD amount. A new transaction will need to be created with an amount that is equal to the loss made. It should have the same timestamp at the UNHOLD transaction, but should have a label of ‘lost’. The amount should also be represented as a negative amount.
3. Where a margin call is made and you lose your held amount, there will be a SPENT transaction in the YouHodler data. This should be relabelled to ‘lost’ and represented as a negative amount.

Once you have the gain and loss transactions ready, you can exclude the HOLD, UNHOLD, and SPENT transactions from your upload as they will not be needed. You will now be left with just the Income or Loss amounts from your MultiHodl arrangements and the ending balance should match your YouHodler balance.

[kostkond]

Hello, I had the same issue with my YouHodler account and followed a different approach which matches better with the gains and loss features offered by both Koinly and YouHodler:

• DEPOSIT = Deposit, I agree with you nothing special here
• WITHDRAWAL = Withdrawal, I agree with you nothing special here
• SAVING_EARN = Reward, I agree with you nothing special here (it could be tagged as Income as well since reward and income tags have the same outcome on your taxation)
• HOLD = useless, it offers nothing special to tax authorities, do not add a manual or automated transaction for this one. However you need the amount mentioned there to calculate your profit or loss in the UNHOLD step below
• UNHOLD = for each UNHOLD transation find its corresponding HOLD transaction, afterwards you subtract the UNHOLD amount from the HOLD amount. If the result is a positive number, then you create a Realized Profit transaction with that number. If the result is a negative number, then you create a Realized Loss transaction with the absolute result of that number. Regarding timestamps and TxHashes, you can use the one provided by the UNHOLD transaction.
• SPENT = you have been rekt, your position was liquidated and that amount should be marked as a Realized Loss

You could use the Sent to Pool and Received from Pool tags, but from my perspective it is not the correct approach, there is no actual pool, validator, or other entity holding you coins. YouHolder’s MultiHODL service is similar to a Future or Derivative product found in centralized exchanges, so the “Realized P&L” tags provided by Koinly are the most appropriate ones to deal with.