[Community Spend Proposal] - Tax Report App by Citadel.one

Details & Description

For the solution to correctly operate, the transaction storage structure of the Citadel.one platform will be changed. So, a transition to a faster solution will be made - we will move from a system based on the PostgreSQL database to MongoDB. Also, a mechanism for upload optimization will be implemented, in order to prevent excessive system load, thus increasing the fault tolerance of the application.

The report will be carried out at the point of optimal load in the system and sent to the user’s email + popped-up in the Citadel.one notification system based on the results of generating a report.

Design Mockup

For mockups we are using Figma. Feel free to check it out via the link:

Operation algorithm:

  1. The user opens an application for generating a file with the export of transactions for the wallet
  2. The user selects the required fields (date, amount, sender address, recipient address, etc.) and the period for generating a transaction report.
  3. The user receives a notification about the start of report generation
  4. The system analyzes the load on key nodes: database, application server
  5. At the time of the optimal system load, the list with the specified parameters of transactions is generated in the priority order
  6. After the report generation, it is uploaded to the temporary storage
  7. A link to the report download is sent to the user’s email address and highlighted in the Citadel.one notification section

Detailed description of the work process, people in charge, time required and costs:

Citadel.one is asking for 2000 XPRT for Persistence Network to be included to Citadel.one Tax Report Extension.

1 Like

Interesting, a few questions:

  1. Is this being done just done for persistence or cosmos ecosystem in general?
  2. Is it for the support of current transaction types? or will it extend support for the future ones too? (considering current transaction types are the same as cosmoshub)

Hello, Puneet.
Thanks for the questions.

  1. The plan is to extend the app for the whole ecosystem. We have divided the work in 2 categories:
  • general research and developments will be made by our team and using our own funds
  • unique research and developments for each particular network. this type of work is more specific and varies from network to network because of different txs types. so we decided to ask funds on different chains.
    *- you can learn more about general works and unique works from this link:Tax App detailed work descriptions
  1. The support will be extended to those tx types that citadel.one platform supports. for example, we are now finishing integrating pStake into our platform, so the future Tax App will support all those txs associated with pStake.
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missing part:

Details & Description

Citadel.one proposes to add Persistence Network, $XPRT and all associated txs to Citadel.one Tax App (currently in development). Citadel.one Tax App is a complex built-in extension for creating CSV file of two types:

  • customized export (users will be able to choose the period, data types and addresses)
  • IRS 8949 (standard form to report capital gains and losses)

The file after it’s created will be sent to user’s email address for personal use.

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Understood, makes sense, good proposition.

By pStake related txns you mean, conversion of xprt to stkxprt, which is happening on ethereum (current version)? Or you mean the movement of pstake token on persistence chain?

Since Citadel.one supports both Ethereum and Cosmos chains, the tx type of converting XPRT to stkXPRT will also be displayed in our file.

1 Like