Participating in ICOs / IDOs

[Alex_Kon]

Describe the problem: Participated in ICO back in 2022. Sent BNB and receiving partially unlocked coins. how do I tag my sent BNB transaction and how do I tag received new coins?
Right now they are just marked as sent with realized gains. Is this right? or should it be “sent to pool” instead? and for receive tokens - do I keep them as “deposit” or “received from pool”
Can be different coins sent and received from pool?

Which exchange/wallet is this regarding? BNB/ Metamask

How did you import data into this wallet? API

What have you tried to fix this so far? not sure how to tag it corectly. couldnt find the data. The educational Koinly video “how to enter ICO” doesnt explain how to tag those coins. please help

[Michael_Koinly]

Hi @Alex_Kon,

Thank you for reaching out about this and joining our Discuss community!

Taking part in an ICO you are sending some coins to the ICO owner’s address and later receive some predetermined amount of tokens in return. Since there is no way for Koinly to know that the two transactions (send and receive) are connected, you will have to tell Koinly how much you paid for the received tokens - otherwise Koinly will assume you paid the market price.

We’ve got some great written and video instructions on how to tag these transactions.

How do I enter ICO transactions?

If you have any questions through the process, please connect with our support team so that we can help directly within your account.

Thank you again for shining a light on this, Alex. Have an awesome day!

[Alex_Kon]

Hi @Michael_Koinly,

Thank you for your reply, I watched the video a few times, but it doesn’t cover that specific question that I asked.

The question is: "How do I mark the transaction(not the value of it)? - Do I keep it as “sent” or “sent to pool” or something else? Is it considered a realized gain, if its sent for an IDO participation?

The same question for received coins. Thanks