Q1 2022 Transaction Tallying Tool Update is here
We’re really excited to announce the release of a new version of our Transaction Tallying Tool! We had a lot in mind for this update, but our primary focus was to reorganize the output data presentation to be consistent with how a decentralized exchange (DEX) might present it. Koinly refers to this format as the Universal Template, and you should now be able to import TTT outputs into Koinly with minimal effort (if that is your goal).
As always, we advise that TTT isn’t a tax tool itself. You should review your outputs before attempting to use them for tax purposes. Because of the nature of the changes we’ve made, we’re calling this “The DEX Update”. We completed a ton of back-end work to make TTT a scalable solution. These changes help lay the foundation for better logic building- and in the spirit of “The DEX Update”, we’ve added explicit logic for both TinyMan and AlgoFi DEXes to this version of the TTT!
Tinyman DEX Support- Beta
Adding explicit support logic to detect and handle Tinyman transactions means that the Transaction Tallying Tool is better than ever at accurately representing Tinyman transactions. Swaps are represented in a single line that accounts for both sent and received assets; meanwhile, LP burns and LP mints are each represented in two separate lines (one for each half of the liquidity pool token purchase/sale). In all cases, later redeemed values are folded into the transactions that spawned them, meaning that high slippage trading is no longer an issue for TTT to handle. Fees are also calculated correctly. For every Tinyman transaction, there is a note under the “label” column indicating what kind of a transaction occurred.
AlGOFI DEX SUPPORT- ALPHA
Everything we just said about Tinyman? It applies to AlgoFi’s swapping, LP minting, and LP burning as well! For some reason, AlgoFi decides to zerg us with as many transactions as an Algorand atomic transfer will allow each time we perform a simple swap. We handled it, internal transactions and everything! We were fairly unfamiliar with AlgoFi going into this, so we have to label this as “alpha”. That being said, we were able to consistently detect and label AlgoFi transactions appropriately in our testing. Maybe we’ll tackle annotating their lending transactions next.
Transaction Tallying Tool: Full Change Log
While it is true that this update is highlighted by the explicit DEX logic, the underlying changes have established the foundation for future updates. Here is a (non-exhaustive) list of all the changes we implemented:
- We added Q1 2022 data.
- We collapsed DEX transactions into single lines wherever possible.
- On the back-end, multi-wallet capability has been implemented.
- We have optimized performance and observe a 10x performance increase, which has alleviated the previous 4,000 transaction limit.
- Data is now represented by year (and UK fiscal year) in separate sheets.
- Summary data is now represented as one line per asset on a separate sheet.
- Transactions are now properly grouped by their transactional group.
- We now decode notes & app arguments so that we can decipher smart contract calls.
- Gain/Loss is now only calculated for contract calls that TTT recognizes.
This was a lot of work, and we’re proud of what we’ve accomplished. Here’s a sample output so you can see how this looks for yourself (best viewed on desktop). We’re really excited about what the TTT is evolving into! We have a few more updates planned for the TTT this year, and we look forward to continuing to work hard for you guys. If there’s a specific feature you’d like to see implemented here, be sure to let us know. You know where to find us.