How do I do crypto accounting on Degen Chain?

Ingest on-chain transactions, classify with rules, reconcile historical balances, value positions at period end, and export summarized journals to your ERP, with clear treatments for DeFi, swaps, and gas fees.

Does Tulo support DeFi on Degen Chain?

Core flows are supported; DeFi coverage may vary by protocol. Transactions and balances are normalized for reporting and audit.

Can I sync Degen Chain activity to my ERP?

Yes. Post-reviewed journals can be exported with entity and account dimensions for ERP posting and reconciliation.

Crypto accounting on Degen Chain | Tulo

Degen Chain is a Layer 3 blockchain built specifically for the Degen community and meme coin ecosystem on Base. It offers extremely low transaction costs, making it ideal for high-frequency trading, tipping, and social interactions. The chain has become the primary hub for DEGEN token activities and related meme coin projects. Degen Chain represents the evolution of meme culture into serious blockchain infrastructure while maintaining its playful community spirit.

What does crypto accounting on Degen Chain involve?

Ingesting on-chain transactions into a human-readable general ledger.
Tracking historical token balances and cost basis for realized/unrealized gains.
Classifying DeFi (swaps, LP, staking, bridges) with clear audit trails.
Mapping activity to a chart of accounts for financial statements.

Recommended workflow for finance teams

Connect wallets, custodians, and contracts relevant to Degen Chain.
Auto-tag common patterns (transfers, swaps, fees) using rules.
Reconcile balances across custody sources and on-chain snapshots.
Review exceptions, assign accounts/entities, and export to ERP.

Common accounting treatments on Degen Chain

Gas fees: typically expensed; capitalize when attributable to asset acquisition.
Swaps: disposal + acquisition with fair value at execution.
Staking rewards: recognize income upon receipt; track tax lots for disposals.
LP positions: record deposits/withdrawals; value positions to capture P/L.

ERP integration

Export summarized journals to your ERP with entity, account, class, and memo dimensions. Keep IDs consistent across environments to support automated, repeatable syncs.