How to do your Acala taxes with Koinly
Acala is a DeFi hub on Polkadot that offers liquid staking, a cross-chain stablecoin (aUSD), and an EVM-compatible platform for trading and financial applications, all governed by its native ACA token. But if you have Acala transactions, you may have a tax bill. Koinly can help you calculate Acala gains, losses, income, and more. All you need to do is import your transaction history. Here's how.
Follow these steps to sync your Acala (ACA) data automatically to Koinly:
- Open your Acala (ACA) 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 Acala (ACA) 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!
Staking transactions are not imported and need to be added manually.
Loan transactions are not imported.
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FAQs
What is Acala?
Acala is a DeFi hub built on Polkadot that provides core financial tools like liquid staking (via its Homa protocol), a cross-chain stablecoin called aUSD (through Honzon), and a decentralized exchange. It’s designed to make staked assets liquid, enable cross-chain interoperability, and support Ethereum-style smart contracts thanks to EVM compatibility. The network is governed by its native token, ACA, which is also used for fees and stability mechanisms. In short, Acala aims to be a scalable, interoperable liquidity layer for Polkadot’s multi-chain ecosystem, powering applications in lending, trading, and stablecoins.
Is Acala safe?
Acala takes security seriously, but like any DeFi protocol, it isn’t “safe” in a guaranteed sense. The project says its code is audited (with ongoing reviews), and it runs a formal bug bounty (up to $500k) to incentivize responsible disclosure, and it benefits from Polkadot’s shared security model. However, Acala suffered a major incident in August 2022 when a misconfiguration in a new liquidity pool allowed over 1.2B aUSD to be minted, causing the stablecoin to depeg, highlighting that smart-contract and operational risks remain despite audits. The team/community intervened to contain the damage, and aUSD later recovered, but the episode is a real risk signal to consider. As with any DeFi platform, assess your own risk tolerance, diversify, and only stake or provide liquidity with funds you can afford to risk.
Does Acala provide tax documents?
Acala itself doesn’t issue tax reports for users. If you need to work out your Acala taxes, the simplest option is to use a crypto tax tool such as Koinly. By connecting your Acala wallet address, Koinly can automatically pull in your transaction history, track profits, losses, and income, and then generate the tax documents required for filing.
