How Awaken Generates Tax Reports for 100,000+ Wallets with Moralis
Awaken is a crypto tax reporting and portfolio management software that automatically supports over 10,000 protocol functions.
Cross-Chain
SupportThousands
of Hours Saved for Users
Because of Moralis, we can have automated support for way more chains. This allows us to save customers thousands of hours, avoiding the hassle of using spreadsheet uploads for their transactions on various EVM chains, such as BSC
Co-Founder of Awaken
Co-Founder of Awaken
Andrew Duca
CHALLENGE
Efficiently get accurate metadata for tokens and NFTs, fetch reliable transaction receipts, and import transactions for user wallets across many different blockchains.
SOLUTION
Use Moralis NFT API, Token API, and Blockchain API to access comprehensive metadata and to fetch reliable transaction receipts across a broad range of chains.
RESULTS
With Moralis, Awaken can reliably import transactions from over 100,000 user wallets and ensure robust network coverage with Moralis’ cross-chain support. Using Moralis has saved Awaken and its users thousands of hours.
About Awaken
Awaken is a cutting-edge platform for crypto tracking and tax reporting management. Launched in 2023, Awaken grew popular with its comprehensive support for NFTs, staking, swaps, bridging, liquidity providing, loans, and more. With built-in automation for over 10,000 protocols and support for leading crypto exchanges like Coinbase, Gemini, and Kraken, Awaken can dramatically shorten the time needed to do crypto taxes. Users can leverage Awaken to generate comprehensive crypto tax reports that can be used with tax solutions or provided to accountants.
Awaken’s Challenge
In providing seamless crypto tax reporting and portfolio management, Awaken needed a Web3 data provider that could offer accurate metadata for tokens and NFTs, and fetch transaction receipts across different chains. Awaken faced challenges identifying a suitable Web3 API provider; some had too strict rate limits, lacked support for certain critical chains, and poor reliability. These limitations would have made managing customer data and facilitating cross-chain tax reporting difficult for Awaken.
Moralis NFT API and Blockchain API
In the end, Awaken chose to use Moralis APIs to get access to metadata from a wide range of chains. Specifically, Awaken uses the Moralis Token API to fetch accurate metadata for tokens and the Moralis NFT API to get metadata collections for NFTs. Awaken also uses Moralis Blockchain API to get reliable transaction receipts for EVM chains. Moralis’ cross-chain support has allowed Awaken to automate support for a wider range of chains, providing Awaken’s users with a more comprehensive and seamless experience for tax reporting management.
Moralis APIs save us countless hours and play a crucial role in importing transactions for our users’ 100,000+ wallets. Without Moralis, there are several chains for which we simply wouldn’t have token metadata, meaning we couldn’t do taxes for them. Therefore, using Moralis is critical.
Leveraging Moralis allowed Awaken to improve its reliability and expand its capabilities, most notably for Binance Smart Chain token metadata.
Results with Moralis
With the help of Moralis APIs, Awaken is able to import transactions from its users’ 100,000+ wallets. Moralis’ reliable data enables Awaken to import transactions across various chains, saving the company dozens of hours in manual tasks and enhancing its tax management services. These benefits also reach the end users – through Moralis’ cross-chain support, Awaken has saved thousands of hours for its users. Without Moralis, Awaken would struggle to provide comprehensive token metadata and offer the same level of service to its users.
About Moralis
Moralis is a leading crypto data provider that helps companies build great user experiences and drive engagement, growth and revenue in their applications, through Moralis’ suite of APIs and Moralis Nodes. These scalable, cross-chain data products – such as the NFT API, Wallet API, Token API, Price API, Blockchain API, Moralis Streams, and Moralis Nodes – seek to bridge the development gap between Web2 and Web3.
Getting Started with Awaken
Discover a crypto tax solution that actually works, with support for over 10,000 dapps. Join the thousands of users already experiencing the next step in crypto tax reporting and portfolio management with Awaken!