How to file your zkSync Era taxes with Koinly
zkSync Era is an Ethereum layer-two scaling solution that utilizes zero-knowledge rollup technology. But if you have transactions on the network, you'll need to calculate any tax liability. Koinly can help. Here's how it works.
Follow these steps to sync your zkSync ERA data automatically to Koinly:
- Open your zkSync ERA 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 zkSync ERA 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
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FAQs
What is zkSync Era?
zkSync Era is an advanced Layer 2 scaling solution for Ethereum, utilizing zero-knowledge (zk) rollup technology to address the blockchain scalability trilemma. It improves Ethereum's network congestion and scalability by offloading transaction computations off-chain and submitting validity proofs to the Ethereum mainnet. This approach ensures lower fees, high security, and interoperability while maintaining compatibility with Ethereum's ecosystem.
Developers can deploy dApps on zkSync Era with ease, as it supports existing programming languages, wallets, and tools. Additionally, it allows for building Layer 3 zk-rollups on top of the zkSync Era network, enabling a multi-layer rollup architecture. The network’s operations are divided into roll-up transactions and priority transactions, reducing the load on Ethereum's mainnet and speeding up operations.
What are ZK tokens?
The ZK token is the native cryptocurrency of zkSync, serving key functions within the ecosystem. It enables governance, allowing holders to vote on protocol upgrades, fee structures, and development initiatives. ZK tokens may also be used for paying network transaction fees.
Do I have to pay tax on my zkSync Era transactions?
Yes. If you have gains or income from your zkSync Era (ZK) transactions, you'll likely have a tax bill. The rules vary depending on where you live, but you'll usually pay Capital Gains Tax or Income Tax on your transactions. You can learn more in our crypto tax guides.
How do I calculate my zkSync Era taxes?
The easiest way to calculate your zkSync Era taxes is to use Koinly. All you need to do is add your public address, and Koinly imports your read-only transaction history so it can calculate your gains, losses, and income, before generating your crypto tax reports.
