Reya is a network that exists to run one thing: a perpetual futures exchange. Your address starts with 0x.
You pay no gas here. Transactions cost nothing, which is unusual and means there are no fees to add to your cost base.
The thing most likely to surprise you is that your collateral can be sold on your behalf, automatically, without you doing anything.
What you get out of the box
Pick your import method.
On Reya
- Open your wallet and copy your address. It starts with 0x.
On Kryptos
- Go to Kryptos.io and sign up with your Google account.
- From the menu, click Integrations.
- Click Add Integration and search for Reya.
- Click the Reya icon, then choose Import using Address.
- Give the wallet a name, paste your address, and click Import Your Transactions.
Good to know
- There is no gas cost on this network, so nothing to deduct.
- Collateral you post is credited at a discount to its market value, so your margin figure will not match your holdings.
- If your margin runs short, collateral is converted automatically. That is a sale you did not initiate.
The sale you did not make
This is the single most important thing to know about your Reya history, and it is the thing users are least likely to remember happening.
When you trade perpetuals here, you post collateral: ETH, or one of several dollar-denominated tokens. That collateral is not converted. It sits where it is and is counted towards your margin requirement, at a discount to its market value to allow for it moving.
But everything settles in the network's own dollar unit. Your profits, losses, funding and fees are all denominated in it. So if your balance of that unit runs down, whether through losses, funding or fees, the system needs more of it, and it takes it by converting your collateral automatically at market prices, plus a fee.
That conversion is a disposal. Your ETH was sold. There is a gain or loss against whatever you paid for it, and it happened on a date you did not choose and probably did not notice, because from your point of view you were just holding a position.
A more severe version happens at liquidation, where positions are closed against you and fees are charged. Both are ordinary taxable events despite being involuntary.
The related oddity is that this network charges no gas at all. Every other chain in this catalogue gives you a fee to add to your cost base. Here there is nothing, which is simpler but breaks the usual expectation that activity leaves a cost behind. For how disposals are treated where you file, see the USA crypto tax guide or the UK crypto tax guide.
Manage your Reya portfolio with Kryptos.
Posting collateral without selling it
Assets you post stay as they are and are credited towards your margin at a discount. Nothing was sold at that point.
Having collateral converted for you
If margin runs short, the system converts your collateral automatically at market prices plus a fee. That is a disposal you did not choose.
Accruing funding on a position
Perpetual positions pay or receive funding continuously, producing a long stream of small amounts.
Audit-ready, automatically.
Once your wallets and exchanges are connected, generating a tax report takes a single click. Open Reports from the menu, choose your jurisdiction, and download.
An automatic conversion is still a disposal
When margin runs short, your collateral is sold for you at market prices plus a fee. You did not press anything and you may not remember it happening, but the asset was disposed of and the gain or loss is real.
There is no gas to deduct
Transactions here cost nothing, so unlike almost every other network there are no fees to add to what your positions cost you.
Posting collateral is not a sale
Assets you post remain yours and are counted towards your margin, at a discount to market value. The discount is a risk buffer, not a loss.
Funding payments accumulate constantly
Holding a perpetual position pays or costs you funding continuously. Across a year that is a large number of small amounts rather than one figure.
Read-only by design.
- Kryptos only ever needs your public wallet address
- A public address is read-only. It can't move or spend anything
- We never ask for your recovery phrase or private key
- Remove a wallet whenever you like, and its data goes with it
If something doesn't sync.
It was probably converted automatically because your margin ran short. That is a real sale and it will be in your history.
Collateral is credited at a discount to its market value. The assets are still yours at full size.
That is correct. This network does not charge gas.
Still stuck? Email support@kryptos.io or open live chat from the app.