How to do your Lighter taxes with Koinly
Lighter is a decentralized perpetual futures exchange built on Ethereum Level 2 with zero-knowledge (zk) rollup technology, making transactions efficient and secure.
If you have Lighter crypto transactions, you likely have a tax bill. Koinly can calculate Lighter crypto taxes with just your Lighter transaction history. Here's how to import it.
Follow these steps to sync your Lighter data automatically to Koinly:
Address:
- This is the "receive" address (public key) of your Ehereum wallet, starts with 0x****
API token:
- Log in on app.lighter.xyz
- From the top menu bar, click More and then API keys
- Click the Read-only button to the right
- Click the Generate read-only token button
- Fill the name for the token (any name)
- Set the Expiry Days field to 3650 (10 years) and click Generate
- Click the copy icon next to the token generated and paste it to Koinly, token starts with ro:*****
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Lighter in the list
- Select API > Paste the API keys 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!
There may be some small imbalances reported due to non-transferrable dust collateral
- 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 Lighter?
Lighter is a decentralized perpetual futures exchange built on Ethereum Layer 2 using zero-knowledge rollup technology. You can trade major cryptocurrencies such as Ethereum, Bitcoin, and Solana, with no trading fees and near-instant trade execution.
Is Lighter safe?
Lighter is considered relatively safe as it uses Ethereum smart contracts to hold assets. This means assets remain under user control and can be deposited and withdrawn safely through Ethereum. Its zk rollup technology verifies transactions efficiently, offering the speed of a centralized exchange without giving up self-custody or privacy. Zk-SNARK (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) proofs also allow transactions to be verified on-chain without revealing any private information. However, no system is risk-free, so consider the associated risks of smart contracts and the market.
Does Lighter provide tax documents?
No, Lighter doesn't issue tax documents. However, you can use a tax calculator like Koinly to calculate your gains, losses, and income, and produce tax reports. Add your Lighter public address, and Koinly will import your transaction history and do your calculations for you.
