How to do your Elysium taxes with Koinly
Elysium is an EVM-compatible Layer-1 blockchain built on Substrate by Vulcan Forged, designed for gaming, NFTs, and metaverse apps. But if you have ELY transactions, you may have a tax bill. Koinly can help calculate Elysium gains, losses, income, and more; all it needs is your transaction history. Here's how to import it automatically.
Follow these steps to sync your Elysium (ELY) data automatically to Koinly:
- Open your Elysium (ELY) 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 Elysium (ELY) 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
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- Contact us on email or live chat
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FAQs
What is Elysium?
Elysium is a Layer-1 blockchain built on Substrate (Polkadot tech) and fully EVM-compatible, designed specifically for gaming, NFTs, and metaverse applications. It offers high throughput, low transaction fees, and energy-efficient Proof-of-Stake consensus. Created by Vulcan Forged, Elysium enables developers to use familiar Ethereum tools while supporting cross-chain interoperability for in-game assets and NFTs. Its ecosystem focuses on powering Web3 games, NFT marketplaces, and virtual worlds through its native ELY token and related assets like PYR and LAVA, aiming to provide a scalable, developer-friendly, and environmentally sustainable blockchain infrastructure for the next generation of digital experiences.
Is Elysium safe?
Elysium has its smart contracts audited by CertiK, and no critical vulnerabilities have been reported. It uses a delegated Proof-of-Authority (PoA) consensus mechanism, providing fast and reliable transactions but relying on a smaller, trusted set of validators, meaning it’s somewhat less decentralized than large public chains like Ethereum. The Vulcan Forged ecosystem, which backs Elysium, did experience a past wallet compromise in 2021 (due to a third-party provider, not the chain itself), and users were reimbursed.
Does Elysium provide tax documents?
No, Elysium doesn't provide tax forms for users, but you can use a crypto tax calculator like Koinly to generate the forms you need. Just import your Elysium transaction history automatically via API by adding your public address, and Koinly will calculate your gains, losses, income, and more, as well as generate your crypto tax reports.
