How to do your Monad taxes with Koinly
Monad is an EVM-compatible Layer-1 blockchain designed to run Ethereum-style applications much faster and more efficiently. But if you have Monad transactions, you may have a tax bill. Koinly can help you calculate your gains, losses, and income from Monad investments. All you need to do is import your transaction history. Here's how.
Follow these steps to sync your Monad (MON) data automatically to Koinly:
- Open your Monad (MON) 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 Monad (MON) 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!
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FAQs
What is Monad?
Monad is a high-performance, EVM-compatible Layer-1 blockchain designed to bring much higher throughput and lower fees to the Ethereum ecosystem without sacrificing decentralization. It uses parallel transaction execution, an optimized consensus design, and a custom state/database architecture to achieve fast finality (around one second) and very high transaction capacity, while still allowing developers to deploy existing Ethereum smart contracts without modification.
Is Monad safe?
Monad is built with standard Layer-1 security principles, decentralized validators, audited code, and EVM compatibility, but like any new blockchain, it hasnât been tested in the wild as long as older networks like Ethereum, so its real-world security will depend on adoption, validator diversity, and time. In other words, itâs designed to be secure, but itâs still early, so caution and good wallet practices still matter.
Does Monad provide tax documents?
Monad doesnât provide tax documentation for users. If you need to calculate taxes on your activity, the easiest approach is to use a crypto tax calculator like Koinly. By adding your Monad wallet's public address, Koinly can import your transactions, track gains, losses, and earnings, and produce the reports youâll need when filing.
