Support Desk

Submit a ticket My Tickets
Welcome
Login  Sign up

Polkadot / Elrond swap 1:100(0) instructions


TL;DR
Polkadot (DOT) and Elrond (ERD) underwent reverse splits. You need to enter these changes as SWAP (non taxable) transactions in CoinTracking. Use DOT → DOT2 at 1:100 for Polkadot and ERD → EGLD at 1:1000 for Elrond.


What happened during the DOT and ERD swaps?

Polkadot and Elrond executed reverse splits:

  • Polkadot: 1 DOT became 100 new DOT2

  • Elrond: 1,000 ERD became 1 EGLD

These swaps also divided the price by the same ratio. Some exchanges (like Binance) incorrectly imported these changes as INTEREST transactions.


How to properly enter or correct these swaps in CoinTracking

Step 1: Ensure correct tickers before the swap

All coins acquired before the swap should have the original ticker:

  • Use DOT for Polkadot

  • Use ERD for Elrond

This ensures the asset value is calculated accurately.

Step 2: Enter the SWAP (non taxable) transaction

On the day you received the new coins:

  • For DOT → DOT2: Enter a swap from 1 DOT → 100 DOT2

  • For ERD → EGLD: Enter a swap from 1,000 ERD → 1 EGLD

Dates may vary depending on your exchange:

  • Example: Binance applied the Polkadot swap on August 18, 2020

  • Smaller exchanges may show this as August 20, 2020

If your account shows INTEREST for this swap:

  • Go to the Transactions page

  • Find and Edit the transaction

  • Change the type from INTEREST to SWAP

Example:
 You owned 100 DOT → Enter a SWAP for 100 DOT → 10,000 DOT2

Step 3: Ensure correct tickers after the swap

All coins acquired after the swap should have the updated ticker:

  • Use DOT2 for Polkadot

  • Use EGLD for Elrond


Why use SWAP and not INTEREST?

  • SWAP retains your holding period and avoids misclassifying the event as income.

  • An INTEREST transaction could incorrectly trigger a taxable event.

Disclaimer: Please note that we are not tax advisors and are therefore not permitted to provide tax advice. The information contained here is for general information and technical support in using the CoinTracking software only. It does not constitute tax or legal advice. Please contact a qualified tax advisor with any tax questions.




Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.