DeTax

DeTax is an innovative solution to a common challenge in the crypto ecosystem – complex tax reporting. The system is currently in its early stages but offers a promising preview of the full-fledged product we aspire to create.

Our platform lets users login by connecting their crypto wallet. Users can then specify the Chain they want to track, and choose the relevant token. The reason why we not automatically select all tokens associated with a given address is to prevent spam and scam tokens to be included in the Report. Finally users choose their country and set a date range. DeTax aggregates this data to generate a detailed and organized tax report in PDF format. This report simplifies the complex task of collating and documenting transactions for tax reporting, potentially saving users countless hours and helping them avoid mistakes.

But DeTax is not just about making things easy; it's about optimization and customization. Users can already select their country, a feature that we plan to expand on. In the future, we aim to provide in-depth, jurisdiction-specific tax tips that could help users minimize their tax liability, based on local regulations and the user's unique transaction history. One example would be a Tax rule by the German government, of crypto holdings becoming tax free after a holding period of one year, so we will integrate a timer for when your assets become tax free.

We believe DeTax is an essential tool for the maturing crypto industry. As we see more people entering the crypto space, tax compliance becomes not just a matter of individual responsibility, but a prerequisite for governments to treat the crypto industry as a legitimate and integral part of the global economy.

Despite our time limitations during the hackathon, we are incredibly proud of what we have built and are excited about its potential. We see DeTax evolving into a comprehensive, real-time tax assistant for crypto users globally, facilitating compliance and fostering trust.

We used React for the frontend. To create an engaging user interface, MantineUI was our choice due to its rich set of components.

Integration with the user's crypto wallet was achieved using the MetaMask SDK. This allowed us to directly link user wallets to our service and capture the necessary data for tax reporting.

For data aggregation, we utilized Airstack's GraphQL APIs. This provided us with a seamless way to incorporate the on-chain data into our application.

Finally, to present the collated data in an accessible format, we implemented PDFLib. This library enabled us to generate detailed PDF tax reports directly from our platform, providing users with a readily understandable record of their crypto transactions.

Finally all these technologies were pieced together to develop a user-friendly and reliable solution for crypto tax reporting.