My proposal for you is to find a way to natively support Uniswap V2 LP tokens.
I have read your guidelines on LP tokens and the workaround does not work for me, which I will elaborate:
- As part of a blockchain game I receive rewards directly in Uniswap LP tokens and I am talking about potentially hundreds of these transactions per month.
- Once in a while I like to send my LP tokens from my hot wallet to my cold wallet.
- Since the rise of cheaper layer 2, I see myself more often adding and removing from/to liquidity pools. Manually fixing every single one of them would be too time consuming.
So what could be a workaround?
Accointing could track value of Uniswap V2 L automatically!
Every Uniswapv2 LP token is a fork from Uniswap protocol and is thus standardised.
Reading the variables “token0” and “token1” and “totalSupply” from the smart contract of the LP token, one can easily calculate the value of any given LP token. Here is a guide on how to calculate it.
So instead users having to manually manipulate hundreds of transactions, Accointing could treat every LP token as they should be: tokens that hold actual value.
Finally I just would like to add that there are other projects that are capable of tracking value of LP tokens. To name a few:
- Ape Board
I list these project just to prove that tracking LP tokens has been realised in several places BUT none of these are capable of keeping track the gains for taxing!
I checked other competitors of Accointing and found that none of these support properly tracking of LP tokens either! If accounting could do that, they would have massive additional advantages and I believe potential to attract many more users.