How to do your Unichain taxes with Koinly
Unichain is a Layer-2 EVM blockchain network developed by Uniswap Labs. But if you've got Unichain transactions, you might have a tax bill. Connect to Koinly to easily calculate your Unichain taxes.
Follow these steps to sync your Unichain data automatically to Koinly:
- Open your Unichain 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 Unichain 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!
Liquidty transactions using v3 are not yet supported
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FAQs
What is Unichain?
Unichain is a Layer 2 (L2) blockchain developed by Uniswap Labs to improve the scalability and efficiency of DeFi on Ethereum. Built on the Optimism Superchain, Unichain offers faster transactions, reduced costs (up to 95% lower than Ethereum Layer 1), and enhanced interoperability for seamless cross-chain swaps. It features one-second block times, with plans to reduce this to 200 milliseconds, ensuring near-instant transaction finality. Unichain also aims to introduce a decentralized validator network to increase security and reliability.
Is Unichain safe?
Unichain, developed by Uniswap Labs, is a Layer 2 blockchain designed to improve scalability and reduce transaction costs on Ethereum. Given the development team behind the network, Unichain is generally considered a legitimate and trustworthy project, but its security status raises some concerns. Unichain hasn't undergone publicly confirmed security audits, and its centralized transaction sequencer creates potential vulnerabilities. However, plans to introduce a decentralized validator network could improve security in the future.
Does Unichain provide tax documents?
No, but you can use a crypto tax calculator like Koinly to get your Unichain taxes calculated and your tax documents generated. Just add your Unichain address and Koinly will import your transaction data and generate your tax reports.
