We are thrilled to announce our latest release, featuring new functionality, improved performance, and various updates. As we continuously improve our product, we welcome your feedback at support@node40.com.
Updates to Coinbase API Keys
Coinbase has introduced a new and improved API key system through the Cloud Developer Platform (CDP). This update brings several benefits. It includes simplified permissions and supports new features like creating multiple portfolios on Coinbase Advanced. We’ve updated our systems to support this new format, while also supporting Coinbase’s older key format. For more details, please check out our support documentation.
Expanded API Support
We listened to your feedback and are excited to offer support for six additional API sources. Balance users can now import transactions from Solana, Fireblocks (Vaults), Moonbeam, NEAR, Coinbase Prime, and OKx directly into Balance via API.
NEAR Staking Income Tracking
NODE40 Balance now helps you keep track of your income from staking NEAR tokens. NEAR uses a proof-of-stake system, where a group of validators ensures the network’s security by processing transactions. These validators receive rewards for their work. As a user, you can delegate your NEAR tokens to these validators instead of owning one yourself. By doing so, you contribute to the network and earn a share of the rewards proportional to the amount you have staked.
For accurate accounting, NODE40 Balance monitors the amount and fair market value (in USD) of the NEAR tokens you stake. Each day we take snapshots and record the accrued income from your share of rewards from staked tokens. That amount of income is then used to determine the cost basis of each new token rewarded. This ensures your reports accurately reflect the income you earn from staking, when you earn it, and any gain or loss from disposing the tokens. Additionally, NODE40 Balance will soon release support for other types of accrual activities across a variety of blockchains and DeFi protocols, including earnings from staking and liquidity pools, as well as interest from loans.
You can find the staking rewards in our NEW Accrual Transactions feature. Accrual transactions are end-of-day summary transactions created by NODE40 Balance based on activity in your ledgers. These transactions are generally created daily and represent accrued rewards such as staking rewards. To utilize this new feature, users will need to toggle the visibility of these transactions by navigating to the cogwheel in the upper right of the timeline transaction table. From there, toggle the switch to “Show Accrual Transactions.” NODE40 Balance will update, and if accrual transactions are applicable to any ledgers in your portfolio, you’ll now see a record of such transactions. If you have questions about this feature, please don’t hesitate to contact NODE40 Support.
Stay Connected
Stay updated with the latest news, insights, and updates from NODE40 by following our blog and tuning into our podcast. Here are some of our recent blog posts you might find interesting:
- Spot ETH ETF Approved! What’s Next?
- Are Brokers Ready for 1099-DA Customer Confusion?
- NODE40 Partners with TCS Blockchain
NODE40 “CryptoClarity” Podcast
Join host Norman Hannawa, NODE40’s Head of Tax & Accounting and special guests, as they navigate the world of digital assets. Each episode explores topics related to digital asset data like regulation, blockchain technology, tokenization, accounting systems, and more. This month’s episode explores the new partnership for a digital asset accounting integration between NODE40 and SoftLedger in an interview with the CEOs of each company. You can access this content wherever you gather your podcast content as CryptoClarity is now available across all major streaming platforms. Listen Now >>
To the moon (and beyond) 🚀
-The NODE40 Team
