ZenLedger just lately introduced native help for the Fantom community. The mixing will enable Fantom customers to entry crypto tax reporting providers. The options will assist the customers merely calculate taxes, handle crypto portfolios, and generate wanted tax paperwork.

Given the precision and reliability of ZenLedger, the combination additionally boosted Fantom’s adoption which could have an effect on its value positively. Take a look at this Fantom value forecast to be taught the place FTM is headed in 2022.

ZenLedger now permits ventures to conduct a number of transaction varieties, together with:

• Staking
• Liquidity Pool
• Zap
• Farm
• Commerce/Swap
• Borrow
• Declare Reward
• Reimbursement
• Bridge

What’s Fantom?

Fantom is a well-liked L1 blockchain community that makes use of a single consensus layer to help the event of a number of execution chains. The blockchain’s impartial consensus layer is called Lachesis, which incorporates a distinctive consensus mechanism, Lachesis Protocol.

The protocol can supply safety to completely different different layers, considered one of which is Fantom’s EVM-supported sensible contract chain, Opera. The protocol goals to develop an ecosystem of execution layers whereas serving to them to function cost-efficient and quick transactions as a result of perks provided by Lachesis. 

The first motive behind the market keenly following ZenLedger and Fantom’s collaboration is their worth proposition. ZenLedger addresses a prevalent difficulty within the crypto market by providing a simple crypto tax preparation resolution. 

As Congress is debating tax reporting, the digital forex market is contemplating the problem severely. Furthermore, authorities are additionally questioning the itemizing of digital currencies on the 1040 Kind’s prime; the IRS has clarified their stance concerning crypto tax evasion critically.

ZenLedger has been current available in the market since 2017 and is backed by a number of business veterans. Most of those veterans belong to finance, accounting, and expertise, aggregating consumer transaction knowledge throughout a number of wallets, tokens, and exchanges into one dashboard. The buildup permits customers to make easy monetary choices and tax legal responsibility, making the integrations large for each customers and the market.