Validvent advised Airdrop Whale: USD 500,000 farmed over 600 integrations
– Blast, ZkSync, Starknet
Validvent assisted an airdrop farmer with portfolio management and documentation for crypto transactions across more than 220 unique addresses on several EVM-compatible blockchains, including emerging networks like Blast, ZkSync, and Starknet. The project included over 600 integrations, involving 40,000+ transactions with a total value of USD 500,000. This required a thorough approach to comply with national and international tax regulations, and for crossborder transactions, while also managing risk hedging strategies and optimizing crypto services.
Validvent used StakeTax’s data collection tools along with CoinTracking’s data aggregation and portfolio tracking services to handle the client’s complex airdrop farming strategies. They ensured that the airdrop yield was securely managed, separated significant transactions from minor “dust” transactions, and provided the client with an accurate financial overview. This helped the client effectively manage their crypto assets, reduce risks, and optimize tax liabilities, ultimately decreasing their tax base from a six-digit to a low four-digit amount.
StakeTax is a platform that exports blockchain transactions into CSV files suitable for leading crypto tax software like CoinTracking, Blockpit and Crypto Tax Calculator. CoinTracking helps with portfolio management, calculating profits and losses from crypto trades, and preparing for tax purposes.
The project team from Validvent included Georg Brameshuber (Partner), Johannes Anderl (Project Manager), Robert Thorn (Operational Lead – Analysis), Moritz Boesch (Analyst), the team of CoinTracking, along with the StakeTax data aggregation team (https://x.com/staketax).
About the Advisors involved At Validvent
Johannes serves as Senior Manager, ensuring smooth project workflows and delivering expert consulting services. He tailors the service to meet the unique needs of Validvent Tax’s clients in the evolving blockchain and crypto finance world. Immersed in the crypto space from 2020, Johannes’s expertise spans across many areas such as decentralized exchanges, money markets, NFT trading, and Game-Fi enabling him to consult clients with a diverse portfolio.
As a Director at Validvent, Robert ensures a smooth execution of analyzing and documenting crypto transactions in tax tools. He leverages his deep knowledge of crypto tax tools and blockchain protocols to achieve optimal client outcomes. Being in the crypto since 2017 space Robert’s practical approach resolves complex tax issues and identifies optimization opportunities, ensuring the effective and compliant management of client’s extensive data set.
Moritz joined Validvent in June 2024 as an Assistant Manager for Crypto Tax Accounting (CTA), Crypto Tax Optimization, and Crypto Tax Compliance. His role primarily focuses on accounting, ensuring users have a complete overview of their transactions and overall portfolio. Moritz started in the crypto space in 2020. His focus lies within the realm of decentralized finance (DeFi). Currently he is also actively contributing to one of the biggest DeFi protocols and critical infrastructural components, such as the smart contract language Vyper. All this makes him ideal when dealing with the complexity of the client’s diverse on-chain activities.
About Cointracking
CoinTracking is a comprehensive portfolio management and tax reporting tool designed specifically for cryptocurrency users. It enables individuals and businesses to track their crypto trades, profits, and losses across multiple exchanges and wallets, providing a clear overview of their portfolio. In our recent collaboration, CoinTracking was instrumental in aggregating and managing over 43,000 transactions, ensuring accurate financial documentation and tax optimization. With its advanced analytics and reporting features, CoinTracking simplifies complex crypto portfolios, making it an invaluable tool for tax compliance and financial management in the blockchain space.
About Staketax
StakeTax is a tool that simplifies crypto tax reporting by exporting blockchain transactions into formats compatible with leading crypto tax software. In our recent project, StakeTax enabled the efficient collection and organization of complex transaction data across multiple networks, making it easier to ensure accurate tax compliance.
About Validvent
Validvent Technology GmbH is a consultancy specializing in crypto wealth management within the Web3 landscape. We offer tailored services to individual investors, financial institutions, industry leaders, Web3 startups, and governmental bodies. With deep expertise in managing complex crypto transactions and providing customized solutions in crypto accounting, taxation, and asset management, Validvent helps clients grow and protect their digital wealth. Validvent’s services include recommending specific crypto service providers based on factors like security, fees, and regulatory compliance; optimizing the use of existing crypto services such as wallet solutions and staking products; integrating crypto services into existing financial systems; and advising on risk management related to the use of cryptocurrency services. Together, these services aim to empower clients to effectively manage their crypto activities, aligning with best practices and adapting to the evolving regulatory landscape.