How to do your XPR Network taxes with Koinly
XPR Network (formerly Proton) is a Layer 1 Delegated Proof-of-Stake (DPoS) blockchain designed for fast, gas-free transactions, utilizing WebAssembly (WASM) smart contracts.
If you're using XPR Network, chances are you have a tax bill. Sync your data to Koinly and it will calculate your crypto taxes for you. Here's how.
Follow these steps to sync your XPR Network data automatically to Koinly:
Sync the XPR wallet using your account name
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find XPR Network 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!
☝️ Duplicated data
XPR API may return duplicate transactions that need to be deleted afterwards
- 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
- Got a feature request? Give us feedback on Canny
FAQs
What is XPR Network?
XPR Network is a Layer 1 DPoS blockchain built on Antelope technology, featuring instant and gas-free transactions. It utilizes WebAssembly (WASM) smart contracts for high performance and scalability, allowing developers to build a number of applications, including NFTs, exchanges, and lending markets. The platform also has identity-first security, using readable human names (@name) in place of wallet addresses to verify on-chain identity.
Is XPR Network safe?
XPR Network is considered safe. It is ISO 20022 certified, a global standard for transparent, secure, and fast financial transactions. It also implements several smart contract security measures, including WebAssembly, on-chain identity, and multi-sig.
It uses a Delegated Proof-of-Stake (DPoS) consensus mechanism, where token holders vote for a select few 'delegators' to validate. This boosts transaction speeds but slightly reduces decentralization, since only 21 validators operate the network.
Does XPR Network provide tax documents?
No, XPR Network doesn't provide tax documents. You can calculate your gains, losses, and income and generate tax reports by syncing your XPR Network data with Koinly.
