Matic / Polygon Layer 2 Support [ADDED]

Etherscan has created a Polygon Blockchain Explorer

It has the capability to export CSV

Hopefully existing integration usecases from Mainnet can be easily ported (if they already exist):

  • Aave
  • Quickswap (Uniswap clone)
  • Sushiswap (Uniswap clone)
2 Likes

How do we import transactions for Matic into Koinly? You mentioned API. But seems that it is currently not supported in Koinly. Did I miss something?

Any possibility of support to parse the https://polygonscan.com/ CSV export please?

2 Likes

Anticipating matic/polygon integration along with AAVE I recently started yield farming there and need to keep the taxman happy

1 Like

Really looking forward to Matic support. I have a ton of transactions that I need to account for.

1 Like

I suspect your devs will have seen this, but https://polygonscan.com/ is powered by Etherscan, hopefully some of the scripting from Eth can be copied over.

1 Like

Please add Polygon support - 100% needed. Thank you!

Hello Koinly Fam!

We are happy to announce that Polygon Matic blockchain and token are now fully integrated and supported in Koinly! You can select the Polygon blockchain when you setup a new wallet and sync your transactions. Keep in mind though, it is a brand new integration, so if you face any errors or difficulty, just log a ticket with support and weā€™ll be more than happy to assist you in sorting it out.

Also, on behalf of the Koinly team, Iā€™d like to say thank you to all of you for your patience in waiting for this much-anticipated integration and your consideration of our hardworking development team.

May the force be with you.

Anakin

5 Likes

Wow koinly!! Iā€™m super impressed!! As far as I can tell you are the first crypto tax website to offer this so well done!!! This was the last thing that was holding me back from paying for a tax report!

Iā€™m having a play around with it now. Few small issues i can see so far:

Stable coins like usdt, Dai and usdc show up as ā€œno market price foundā€

If depositing funds into Aave etc you get given the same amount back in a different Token which represent what you have deposited. Itā€™s required to withdraw those funds. What should this be marked as? Or should it be soft deleted as it has no value?

If you borrow funds from against your collateral you again get a Token which represents that loaned/debt amount which shows up as ā€œno market value foundā€ My understanding is crypto loans dont count towards taxes? What should this be marked as? Or should it be soft deleted along with any transactions related to that loaned amount?

For any interest earned on deposits once itā€™s been withdrawn back into my wallet itā€™s usually added to the total deposit amount. Should this transaction be manually edited and split into two so the interest can be marked as a reward/income? Or is there an easier way?

A lot of users on matic chain are farming in pools and taking loans so I think some of the above issue will come up a lot. Again great job on adding this functionality and look forward to some suggestions or fixes for the above!

3 Likes

Thanks for the integration! Great progress. Tried it on my side as well, and encountered the same issues as the user above, e.g. missing or incorrect prices for stablecoins such as USDC, as well as other coins such as TITAN (for this one I might set a manual price as a workaround).

I also have LP tokens showing up, I guess a soft delete might be the solution for now, as suggested in the previous post.

For now Iā€™ll probably remove the wallet from Koinly (my losses are multiple billions because of the price issues mentioned which made me panic) and will try it again later.

whoaaa. Thank u koinly !! u guys rock. was tired of tracking my shit using spreadsheets for polygon. will play around let you know of any issues .

its weird that it indicates missing prices for IRON and USDC as mentioned in the earlier post. workaround would be manual setting of USDC , IRON prices but where on earth do i get their prices on that specific timestamp ?

Looks like koinly is not able to recognise any of the tokens on polygon network as they all come up as zero cost no matter what u do with them. I had transferred USDC from bsc to matic and it does not come with any cost basis , same with TITAN , wexpoly , addy etc. basically all these coins dont show up in koinly with any graphic icon next to them and also since all these coins current value shows up as zero it messes up my entire profit loss balance. Please fix as this is a big bug. I pasted my screenshot below . All the polygon network tokens are being shown up as hidden assets in the dashboard as well .

1 Like

Hey Chugs,

We are working on adding all of these tokens. It will take a couple of days until the system will update the prices but you will see a lot of improvements this week.

However, tokens such as ADDY and WEXPOLY are not yet listed on CMC so we wonā€™t have pries for those until they get listed.

Best regards,
Petur

1 Like

Good to hear that your working on adding in coins missing value etc.

Any possible solution to handle borrowed coins? If you could perhaps add In the ability to mark the deposits as loaned funds so itā€™s taken out of CGT calculations but keeps it in the transactions that would be a big help as every transaction has a fee etc associated with it. Also need a way to mark withdrawals as paying back a loan?

https://debank.com/ and https://zapper.fi are both great tools to be able to keep track of loaned amounts and interest accrued etc. If you could possibly build a similar ability into koinly it could also help manage tax and help differentiate between our assets/coins vs loaned assets/coins.

Thanks again!

2 Likes

Thanks man. Always liked koinly as it is simply the best out there. Will wait for the fix.

On a separate note - do u guys have plans to integrate terra money ? They have a huge ecosystem there .

This is great except tokens donā€™t have cost ā€¦ DAI, WETH, WBTC, etc. This is probably because the Polygon address for these tokens is probably different from Ethereum equivalent.
Also, Liquidity In is not always recognized and I canā€™t manually set that. (I had the same issue with BSC, but you guys fixed it later.)

Great job Koinly!! Very thankful that Polygon Matic support was added.

Didnā€™t I tell you guys we got your back? This stuff is hard to do, so everyone stay cool and drink those Pina Coladas. The Koinly team is working hard to make everything better for you all, day by day, so stay tuned for more great additions coming soon. And join our Twitter to get the latest announcements.

https://twitter.com/koinlyapp

Kind regards,

Anakin

1 Like

Great news! Thanks for getting Polygon added. Itā€™s obviously not totally ready yet but at least the transactions can be imported. Itā€™ll improve over time like BSC support.

What is still required:

  • Transaction hash should have link to polygonscan url. Should be an easy fix.
  • Prices/support for the pegged tokens (USDC/USDT etc)
  • Liquidity In/Out recognition

Great to be able to import the transaction though and Iā€™m sure this will all be fixed over the coming months :slight_smile: