Wyjaśnienie pul płynności: jak działają i dlaczego są opodatkowane

Liquidity pools are smart contract-based pools where users deposit pairs of tokens, like ETH and USDC, to facilitate decentralized trading. Instead of relying on a centralized order book, traders swap tokens directly against the pool. In return, liquidity providers (LPs) earn fees generated from trades. Think of it as a cosmic marketplace where your tokens help power trades, and in return, you earn a share of the fees.

When you deposit tokens into a pool, you receive LP tokens representing your share of the pool. These LP tokens are like cosmic certificates of your ownership. As traders swap tokens, the pool’s balances change, and so does your share. You can withdraw your tokens at any time, returning your LP tokens to the contract, which burns them and pays out your proportional amount of ETH and USDC. [Diagram suggestions: Pool deposit/withdrawal flow, impermanent loss visualization] For example, depositing 1 ETH worth $2,000 and 1,000 USDC worth $1,000 creates a pool with a total value of $3,000. If the pool’s total LP tokens represent this $3,000, then your LP tokens correspond to your share of that total. When you withdraw, the pool calculates your share, adjusting for fees and price changes.

The IRS hasn't specifically addressed liquidity pools, so there's ongoing debate. Most tax professionals agree that depositing tokens into a pool is a taxable event—it's a swap or sale of those assets, disposing of your original tokens in exchange for LP tokens. When you earn swap fees, these are considered ordinary income when claimed. Withdrawing your tokens from the pool is also a taxable event, as you are disposing of your LP tokens and receiving underlying assets. **Deposit (ETH + USDC → LP Token):** Many treat this as a taxable swap, meaning you dispose of ETH and USDC at their current market prices. If the combined value differs from your cost basis, you recognize gains or losses. **Swap Fees (Earned in the LP):** Fees accumulated are generally considered ordinary income when you claim or withdraw them. These should be tracked and reported as income. **Withdrawal (LP Token → ETH + USDC):** When you redeem your LP tokens, the IRS considers this a sale of your LP token. The basis of your LP tokens is your initial deposit plus any fees claimed. The value of the underlying assets at withdrawal determines your gain or loss. **Impermanent Loss:** Price fluctuations between deposit and withdrawal can create gains or losses. These are real economic outcomes and should be reflected in your tax calculations. Until the IRS issues clear guidance, most tax professionals advise treating LP deposits and withdrawals as taxable swaps or sales, with careful tracking of basis and gains.

Moonscape automatically detects your LP deposits, withdrawals, and fee claims. We track your basis for each deposit, adjusting for fees and price changes. When you withdraw, our system matches your LP tokens to the original deposit, calculating your gains or losses precisely. Features include: - Automatic LP token detection - Fee claim recognition and income calculation - Accurate basis tracking across multiple deposits and withdrawals - Impermanent loss estimation for your reference This means you can rely on Moonscape to keep your tax reporting accurate, even in complex LP scenarios.