How to do your Botanix taxes with Koinly
Botanix is a Bitcoin Layer-2 that uses its Spiderchain protocol to bring EVM-compatible DeFi directly to Bitcoin. But if you have transactions on Botanix, you may have a tax bill. Koinly can help calculate your Botanix Bitcoin taxes; all it needs is your transaction history. Here's how to import it.
Follow these steps to sync your Botanix data automatically to Koinly:
- Open your Botanix wallet app
- Locate and copy your public address or key
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Botanix in the list
- Select API > Paste the public address/key you copied above in the appropriate box
- Hit Import and wait for Koinly to sync your data. This can take a few minutes
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
- Head over to our help center
- Hit up our discussion boards - we might have already answered your question
- Ask us on social media - we're on Twitter and Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
FAQs
What is Botanix?
Botanix is a fully decentralized, Ethereum Virtual Machine (EVM)-compatible Layer-2 blockchain built atop Bitcoin, designed to bring Bitcoin-native financial applications, like lending, trading, staking, and DeFi, directly onto the Bitcoin network without relying on wrapped assets. Powered by the Spiderchain protocol, it uses a federation of independent node operators managing multisignature vaults secured with threshold cryptography (FROST), verifiably random signer rotation, and Bitcoin’s UTXO rules, ensuring deposits are safe and double-spend-proof while offering fast finality and low fees. Botanix launched mainnet with a federation of 16 reputable operators (including Galaxy, Fireblocks, and Alchemy) and is already supporting live applications like DEXs and stablecoins.
Is Botanix safe?
Botanix is built with a strong security model that uses its Spiderchain protocol, where funds are held in rotating multisignature wallets managed by randomly selected, staked Orchestrator nodes, so no single party controls assets. Security is reinforced with forward security through key rotation and ephemeral keys, while staking requirements align incentives and deter malicious behavior. The system inherits strength from Bitcoin’s Proof-of-Work, using Bitcoin block hashes for randomness and confirmations for finality. Botanix launched with 16 reputable federation members (e.g., Galaxy, Fireblocks, Alchemy) and aims to expand to over 100 nodes for greater decentralization. While it's been built with security in mind, it’s still early, and independent audits and broader participation will be key to ensuring long-term safety.
Does Botanix provide tax documents?
No, Botanix doesn't issue tax forms to users. The easiest way to calculate your Botanix Bitcoin taxes and get a crypto tax report is with a crypto tax calculator like Koinly. With Koinly, just add your Botanix public address, and it'll automatically import your Botanix transaction history via API, and use this to calculate your gains, losses, and income, as well as generate tax reports to help you easily file.
