Web3Gains is a SaaS product for tracking profits and cost basis of crypto trading and supports generation of reports for capital gains taxes, populating tax form PDFs specifically for Sweden but also producing generic CSVs.

Users can import trading reports from Coinbase and track activity of wallets on the Ethereum and Solana blockchains, converting all amounts to ones local currency.

Status

✅ The product has been live since 2021 at web3gains.com and I was able to use it for own tax reports, but have yet to see enough potential for commercialization.

Goals

✅ Get familiar with blockchain data.
✅ Use for own tax reporting.
❌ Commercialize the product.

Main learnings

The crypto world is full of advanced transactions that would be difficult to automatically classify so commercializing the product would likely involve lots of support. The tooling for non-Ethereum chains are also not up to the same high standards as Etherscan (did not get Solscan’s transaction reports to add up to the wallet balance for some wallets).

The market has more competitors than I initially anticipated and the profits of the smaller ones doesn’t seem to justify making this a commercial product. Might be worth revisiting if it’s possible to identify a targeted higher-value use case.

Market outcomes

Cancelled monetization plans before any kind of launch.

Tech

Web3Gains was based on the same TypeScript-based tech stack as PlotDash (React, NestJS and Postgres), but I evolved the stack as I swapped out TypeORM for Prisma.

TypeORM lets you specify your database schema as TypeScript classes, but requires care as it sometimes fails to use its types correctly (it would write date columns specified as Date objects, but read them back as strings). Prisma generates TypeScript classes from a separate schema DSL and there is a Rust port if one needs to rewrite the app in a more performant language.