aka: “FINALLY I can get my Polkadot taxes done!”

Since March 2022, I have been building an analytics engine for Polkadot. The first product to launch on Polkalytics is personal reports of your on-chain activities that will finally enable you to do your taxes. In the future, Polkalytics will offer consulting services and additional products for tax consultancies, businesses, parachains, and protocols.

In this post, you will learn about the types of analytics that are becoming possible and about Polkalytic’s first product: Polkadot Tax Reports. And I will share the report that was generated for my personal main Polkadot and Kusama addresses.

• Visit www.polkalytics.io now to apply for the Closed Alpha program.
• Follow on Twitter: @polkalytics

Polkadot lacks Analytics

What’s my crypto profit and loss? How much revenue are parachains actually making? Where is money flowing in the ecosystem? Who is the best RMRK NFT flipper? Which DeFi protocols are actually gaining traction? Whom should I copy-trade?

There are a million questions about Polkadot in our collective mind every day. Most of them haven’t been answered before. For some, you can use tools like the Subscan Blockchain Explorer or put in the effort and do your own Spreadsheet and programming magic.

But let’s be honest: Polkadot is still very inaccessible when it comes to gaining insights into what is actually happening on-chain. There is no universal analytics tool and because of the diversity of parachains, we are still far away from it.

To make things easier, I released the open-source library Subscrape in March 2022 (Announcement)

Over the months, I have used Subscrape to do all kinds of analytics, like

• Mangata X DEX stats
• Crowdloan Analysis
• XCM Netflows
• Investigating on-chain flows after the aUSD error mint

As I went down deeper into the rabbit hole, I had many conversations with people from the Polkadot ecosystem and they all had the same pain point: “I can’t file taxes for my on-chain activities”.

Polkalytics Tax Reports

Polkalytics Tax Reports is a service that generates personalized reports of your on-chain activities that enable you to file your Polkadot taxes.

If you use Binance or Kraken or any other centralized exchange, you can just click an “Export” button and get a full-fledged report that you can hand to your tax consultant. If you are an active on-chain user of Polkadot, you are out of your luck. No “Export” button for you.

To solve the problem, I had to build something that is bigger than a simple scraper. An engine, that reads ALL data from the chain to fetch transfers, fees, staking, XCM activity, crowdloan participation, DEX swaps, and everything else.

After 3 months of long after-work evenings, the first version of Polkalytics Tax Reports was finished in early December. Since then I am serving individuals who participate in the Polkalytics Closed Alpha. To get your personal report, you can apply for the Closed Alpha program today by visiting www.polkalytics.io.

Interested to see what the reports look like? I am publishing sample reports of my personal main account here: Drive folder.

At the moment, Polkalytics Tax Reports supports the Polkadot and Kusama relay chain. Support for more chains will be added in the coming weeks. As a Polkalytics Closed Alpha program participant, you will get access to ALL upcoming Polkalytics features for the first year.

The Analytics Boutique opens Shop

Polkalytics is more than just tax reports.

Polkalytics offers specialized reports for parachains that want to learn more about what is actually going on on-chain, gather protocol KPIs, and offer transparency to their communities.

Polkalytics gives crypto tax consultancies an edge by offering services that none of their competitors can.

Polkalytics helps investors understand what happens on-chain, to get capture signals as they happen, and make informed decisions faster.

Polkalytics uses the power of Google Cloud to index all chains. The goal is to generate insights on demand at Google-scale.

If you think that Polkalytics can help you achieve your goals faster or better, reach out and we’ll have a conversation.

Stay in the Loop

• Visit www.polkalytics.io now to apply for the Closed Alpha program.
• Follow on Twitter: @polkalytics
• Share the announcement thread