This article explains about DeFi tokens in DeFi transactions.
- What is a DeFi token?
- Why show them as DeFi tokens?
- How to check DeFi tokens in your trade history
- How to check DeFi token symbols
- How to fix invalid transactions in DeFi tokens
1. What is a DeFi token?
When the system detects a coin in DeFi which is not supported in Cryptact, it treats it as a DeFi token. You can check if a coin is supported or not from here. If a coin is not supported, searching for the coin name will not display anything.
2. Why show them as DeFi tokens?
In principle, a transaction in a coin which is not supported by cryptact is processed as an invalid transaction. To resolve this, you would need to manually upload the transaction history by creating a custom coin for the unsupported coin.
However, in DeFi, a huge variety of tokens and coins are derived every day, many of which are unsupported by cryptact. If you have to create custom coins for each, it would take a lot of time and effort. cryptact treats them as DeFi tokens to eliminate this task and auto-processes these DeFi transactions. However, cryptact is still missing prices for these DeFi tokens.
3. How to check DeFi tokens in your trade history
▼In the DeFi transaction tab: Use the filter function "Identified" -> "Auto" to narrow down the transaction history.
▼In the transaction tab: Use the filter function "Status" -> "Warning" -> "DeFi token transaction" -> "Apply".
4. How to check DeFi token symbols
1. How to check via the screen
Place your cursor over the coin and the symbol will get displayed as below.
You can copy the symbol by clicking the copy icon on the right.
2. How to check via the downloaded file
① From the Ledger screen, click the Download icon to the left of "Add transactions".
② You will receive a download link to the registered email address. Download the file from the link.
③ Open the "tax-cryptact-ledger" file.
④ Search for the DeFi transactions to get the symbols for the DeFi tokens.
5. How to fix invalid transactions in DeFi tokens
▼In the below example, "WEB3" is automatically "Identified" and processed as a DeFi token, however, the transaction is invalid due to price lookup unavailable.