At a glance
▸ Label: DeFi Transfer ▸ Direction: 🔄 connects an outgoing transaction (entry) and an incoming transaction (exit) ▸ How the app describes it: “You transferred assets into or out of a DeFi protocol.” ▸ Where to find it: + Transaction › Transaction Label › group Incoming & Outgoing ▸ Do not confuse with: Stake Transfer, Transfer, Trade (exchange for another asset) |
With the transaction label DeFi Transfer you move assets into a DeFi protocol and bring them back. For this, Blockpit creates a sub-integration, without you having to create a manual integration. The assets stay visible in your total portfolio, and cost basis and holding period are kept.
For NEAR, Algorand, Solana and Sui, Blockpit records DeFi positions automatically in sub-integrations. There you usually do not need the label.
ℹ️ Good to know: A sub-integration (also called sub wallet for NEAR, Algorand, Solana and Sui) is something different from a subaccount at an exchange, for which you create a separate integration, and something different from the addresses under an xpub, which Blockpit combines in one integration.
How do I label entry and exit?
1️⃣ Open Transactions and find the outgoing transaction into the DeFi protocol.
2️⃣ Open the quick action of the transaction or click Edit.
3️⃣ Choose the label DeFi Transfer and save. Blockpit then creates the sub-integration “<Integration> - DeFi”.
⚠️ Caution: Choose the label only for a real transfer of your own assets into the protocol. If you exchange assets (for example a swap), that is a Trade. Income from the protocol gets an income label, not DeFi Transfer.
4️⃣ Check that the sub-integration was created and that the balance is correct (see below).
5️⃣ For the exit, label the incoming transaction that comes back with the same label as the entry.
⚠️ Caution: A different label on exit (for example Stake Transfer instead of DeFi Transfer) can cause the balance to stay in the sub-integration. Use the same label for entry and exit.
Where do I find the result?
▸ Dashboard: In the Dashboard, open the Integrations tab and expand the integration. The sub-integration appears as its own sub-tab.
▸ Filter transactions: Filter Label › DeFi Transfer.
▸ Excel template: In the Integration field, enter the name of the sub-integration, for example “<Integration> - DeFi”.
When do I not use this label?
⛔ Native consensus staking: Blockpit records this via the staking address; for it you use Stake Transfer or no label at all.
⛔ Exchange for another token: That is a trade.
⛔ Rewards and income: their own income label, not DeFi Transfer.
⛔ Exchanges (CEX): The label is intended for blockchain positions.
⛔ Split transaction: It cannot be merged again. Decide before splitting whether you really have to split it.
Typical mistakes
✗ Label set although the integration already records DeFi automatically → the position can appear twice
✗ Swap labeled as DeFi Transfer → a swap is treated like a transfer
✗ Different label on exit → the balance stays in the sub-integration
Blockpit does not provide tax advice. For specific legal questions, please consult a tax advisor.