How do I do crypto accounting on Optimism?

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 Optimism?

Yes, major DeFi patterns are supported. Transactions and balances are normalized for reporting and audit.

Can I sync Optimism activity to my ERP?

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

Crypto accounting on Optimism | Tulo

Optimism is a leading Ethereum Layer 2 scaling solution using optimistic rollups to provide faster and cheaper transactions. It maintains full Ethereum compatibility while significantly reducing gas costs and improving transaction throughput. Optimism has pioneered the concept of retroactive public goods funding, directing sequencer revenue toward ecosystem development. The platform hosts a thriving ecosystem of DeFi protocols, NFT projects, and Web3 applications.

What does crypto accounting on Optimism 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 Optimism.
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 Optimism

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.