USDC cost basis, LP issues on matic, exodus issues

First I have some transactions from liquidity pools I entered that are way off. Basically, I entered an 60/20/20 pool with 3 tokens. There’s no way I made more than 10k in the pool yet there’s several gains showing numbers totaling over 6 figures. I’m pretty lost here and chat is useless. The most obvious fault is USDC cost basis being way low. Clearly usdc is $1 per token. It seems like this is an auto rebalancing of the pool. Fixing these manually is near impossible. Here’s one example but there are several

Here’s another issue with exodus. I strictly used exodus as a wallet so any transaction in or out should trigger no gain as I was either sending or receiving from exchanges. Any trading or P/L should occur there. I have all my exchanges uploaded but I have several transactions with showing gains sending from exodus to a mystery wallet (has to be one of my exchanges). So not only do I not know where it sent but there should be no gain and I see no way to edi

How do I change ‘send’ to not trigger a gain? I don’t understand why it would label it as a gain at all if it is a transfer between wallets or exchanges. Under dropdown it only says tag as gift, lost, cost, etc.

More issues but I’ll start there thanks

1 Like

Hey @guyrelax

I’d be happy to offer you some help with this!

Firstly, USDC cost-basis. Although USDC is a stablecoin and trades at/around $1, this does not mean that the cost-basis will be the same. Koinly uses accounting principles to determine cost-basis and it often comes down to the method being used (FIFO/LIFO/HIFO etc).

If you navigate to the cost-analysis section of the transaction, it gives a breakdown of the calculation of p/l. Can you please post a screenshot of this in your reply? It would help understand what’s happening.

I would also urge you to have a look at our Liquidity article which explains common issues with cost-basis on LP tokens. If you believe that these transactions should not be taxable, there is a setting within Koinly that you can toggle to remove the gains from such transactions, just be sure this is allowed by your tax authority.


Regarding Exodus, there is no way for the program to understand that you are transferring between wallets if the address is anonymous to Koinly.

Transfers are matched when both wallets are added. You can work around this by editing the “worth” of the transaction, to equal the cost-basis of the sent amount, this would even out the gains total to 0.

The other method would be to create custom wallets for these addresses in Koinly and change the transaction to a transfer using the Edit option, although it was synced via API, you can still make this type of change.

Let’s work on getting the above sorted, and we can move on to any other questions you may have. If you prefer to communicate 1-1 please feel free to send an email to [email protected] and mention this thread and my name, and it will be directed to me. :+1:

Ali :rocket:

regarding exodus, all of my wallets and exchanges are synced so it should not be anonymous

for example this one i found out went to gemini