“send to pool” - Venus

Describe the problem:

I have invested DOTs in the Venus app. Koinly has put these records to “Exchange” and the “send to pool” tag is not available.

What should I do to switch these movements to “send to pool”?

Which exchange/wallet is this regarding?
MetaMask

How did you import data into this wallet?
API

What have you tried to fix this so far?

I would also like to know the answer to this. I used Venus extensively in 2021 and don’t understand why “send to pool” is not available for these transactions.

Koinly, please help!

Do you have the answer please?

What’s the point of asking for help if we don’t have feedback from the team?

Hello!

Alex from Koinly here :slight_smile:

These will show as “Exchange” if there is a token received back when staking. If that’s the case then you would need to split up the transactions so that you have one “Send” and one “Deposit”.

Once you have those two separated you can tag the “Send” as “Sent to pool”.

If you’re still having issues after that then I would suggest contacting us at hello@koinly.io
We are much faster to respond there as we prioritize those tickets over this forum.
But we are going to put more resources here as well so the wait times won’t be as long in the future. :slight_smile:

Best regards,
Alex

I’m having a similar issue, I have a lot of VBNB to BNB transactions and vice versa, these show high gains and losses that I never actually made. Can you describe exactly how I would fix these transactions? Example given in screenshot below.

Can you describe to a complete novice how I would resolve and fix this transaction in Koinly (using the above as the example)?

Hello Alex

If I understood your answer correctly, I have to delete the “Exchange” movement and I have to create 2 movements: a “Send” movement and a “Deposit” movement. To create these 2 movements I do it either with a CSV file or by the Koinly application.

Is that what I have to do?

If this is correct then it is a real problem because it means that the Koinly application is not usable for Decentralized Finance

Would really like an answer on how to fix this, given example in previous comment.

Hello @hizzy

Using the screenshot you sent it’s a bit difficult to say exactly what the issue would be.
Koinly will treat this as any other crypto > crypto trade since they are technically different assets.
So if you are seeing high gains/losses that you feel shouldn’t be there then it’s likely due to some missing transactions messing up the cost-basis.
If you receive VBNB as reward from staking but they’re not getting imported to Koinly, then that would be the cause most likely.
I would recommend that you send us an email at hello@koinly.io so we can take a close look at your specific issue :slight_smile:

Best regards,
Alex

Hi Alex,

I’ve sent an email to hello@koinly.io regarding this but not had a satisfactory response.

On Venus on Binance Smart Chain, when supplying BNB you will be issued a vBNB token as a receipt, so you are able to claim your supply back. This VBNB can go up and down in value, but you don’t get to “cash” this increased/decreased value because you are forced to trade back using the amount of receipt tokens, not the value of the receipt tokens. This looks like it is causing the high gains and losses on transactions. You can also see that in the screenshot.

I’ll send another email to hello@koinly.io with you Alexander_Koinly in the subject line, maybe you could take a closer look.

Thanks.

Hello @Jacquotte

In most cases that would not be necessary, but some staking protocols don’t just accept your deposit, they also send you a token back in return that represents your staked amount.
When this happens it becomes a bit difficult to automatically handle since on a purely technical level this would be considered trading one asset for another, and could be seen as a taxable event.

It’s up to each country’s tax agency to give guidelines on how these should be handled.

If they allow you to consider these transactions as any other staking then you need to make the change that I mentioned, splitting up the transaction into one “Send” and one “Deposit”, in order to have the “Sent to pool” option show up on the “Send” one.
You can do this either by editing the CSV and uploading it again, or you can do it directly in Koinly.
We have some instructions here on how to manually add transactions:
https://help.koinly.io/en/articles/3664156-how-to-add-transactions-manually

I hope that helps, but if you’re still noticing any issue I would recommend you send us an email at hello@koinly.io so we can give more direct support.

Best regards,
Alex

Hi Alex,

So if I have an Exchange transactions in my BSC Wallet.

Exchange: 700 BNB → 35,000 VBNB

Would I break this down into 2 transactions:

Send: 700 BNB (BSC Wallet to Venus)
Deposit: 35,000 (Venus to BSC Wallet)

Would I mark the ‘Send’ as ‘Sent to pool’ and the Deposit as ‘Received from pool’?

Also vice versa…

Exchange: 20000 VBNB → 500 BNB

Would I break this down into 2 transactions:

Send: 20000 VBNB (BSC Wallet to Venus)
Deposit: 500 (Venus to BSC Wallet)

Would I mark the ‘Send’ as ‘Sent to pool’ and the Deposit as ‘Received from pool’?

In the CSV file, how do I label these transactions as ‘Sent to pool’ and ‘Received from pool’?

I created a CSV file by breaking down the Trades into separate deposits and withdrawals. Now when importing them, a lot of them are flagged as duplicates when there are no duplicates as far as I can see. Only thing I can think of is there are transactions marked as soft-delete that happened at the same time which might be the reason they are flagged as duplicate. Contacted support to help understand why Koinly flagged some as duplicate was seeing but had no response.