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Dimitris
Feature Request: Better Support for Avantis Derivatives Trading on Base
What is being requested?
Improved support for derivatives trading activity on
Avantis
, a decentralized exchange (DEX) on the
Base
blockchain.
Currently, when users send USDC to open a long or short position, CoinTracker categorizes it as a standard
Send
transaction. When users close a position and receive USDC back, it is treated as a margin gain—even if it’s less than the original amount sent—without accounting for liquidations or realized losses.
Additionally, Avantis trades may result in
inflated and inaccurate cost basis calculations
for
ETH sends and gas fees
, which can impact overall portfolio balances and performance metrics.
Why is this needed?
  • CoinTracker treats the initial USDC deposit as a fee.
  • Any USDC returned from the contract is treated as a gain, even when it represents a loss.
  • ETH sends and gas fees related to Avantis trades can inflate cost basis and distort portfolio totals.
This oversimplifies actual trading outcomes, misrepresents taxable events, and can lead to incorrect portfolio and tax reporting.
What can users do now?
  • Users should consult with a tax professional to determine the most appropriate reporting treatment.
  • Users can
    ignore the Send transaction for the immaterial ETH amount and gas fee
  • Navigate to the
    Transactions
    page and edit the affected transactions.
  • To prevent future balance discrepancies, users can create a
    new transaction with the same date and time
    as each affected transaction to manually account for the ETH Send and Gas Fee.
Keywords: Avantis, Base blockchain, DEX derivatives, DeFi trading, liquidation handling, ETH gas fees, cost basis inflation