How to file your Raydium (RAY) taxes with Koinly
Raydium is an automated market maker and liquidity provider for the Solana ecosystem. Whatever your transactions, Koinly can help calculate taxes for hundreds of Solana dApps including Raydium. Here's how.
Sign up to Koinly and choose your country and currency
Connect Solana with Koinly to import all your trades safely and securely
Koinly identifies the cost basis of your tokens and coins, as well as your taxable transactions
Koinly calculates any capital gains, losses, and income from your taxable transactions
Koinly generates your crypto tax report - ready to help you file with your tax office, or hand it over to your accountant.
How are Solana DeFi protocols taxed?
The tax you'll pay all depends on the transactions you're making and the rules where you live, but your Solana DeFi transactions may be subject to Income Tax or Capital Gains Tax (or both!). You'll generally pay Income Tax whenever you earn new tokens - like new liquidity mining tokens - while you'll pay Capital Gains Tax on any gain you make as a result of selling or trading crypto (even if that's for a liquidity token representing your asset). Learn more in our DeFi tax guide.
Can the IRS track Solana DeFi investments?
Yes. Solana is a public blockchain, meaning anyone can use a blockchain explorer to view information including wallet addresses, transactions associated with a given wallet, wallet holdings, and more. All the IRS needs to do is link you to a given address to know about your investments. Learn how the IRS achieves that in our guide - can the IRS track crypto?
How to get Raydium tax documents
You'll usually report income, gains, and losses from crypto - including from any Raydium transactions - as part of your annual tax return. This means you'll need to go through your transactions, identify which are taxable and the type of tax that applies, as well as calculate any gain, loss, or income from your investments, and include this information in your tax return.
It's a lot of work - which is why most investors use a crypto tax calculator like Koinly. Koinly can calculate your gains, losses, and income for more than 800 wallets, exchanges, and blockchains, including Solana and Solana dApps.
How to import Raydium transactions to Koinly automatically
To import your Raydium transactions into Koinly, you’ll need to connect any Solana wallet you use with Raydium to Koinly. This is easy to do, you just need your public address. We've got instructions on how to connect popular Solana wallets like Phantom and Solflare on our integration pages - but here's an example of how it generally works.
In your wallet
Open or log in to your wallet
Select the blockchain you'd like to connect to Koinly - in this example, Solana
Copy your public address
On Koinly
Sign up or log in to your Koinly account and go to the wallets page
Search for and select the blockchain you'd like to connect to - in this example, Solana
Give your wallet a name - for example - Phantom Solana
Paste your public address
Your frequently asked questions...
What is Raydium?
Raydium is an automated market maker (AMM) for the Solana blockchain. It leverages a central limit order book to enable faster trading and shared liquidity.
What is RAY?
RAY is the native utility token for the Raydium protocol and can be used to vote in governance decisions, staked to earn protocol fees, or staked to receive IDO allocations.
Are Raydium transactions taxed?
Yes. Depending on the transactions you've made and the rules in your country, you'll pay Income Tax or Capital Gains Tax on your Raydium transactions.
