The Ethereum FinOps Stack
We all know crypto tracking, accounting, reporting, payroll, and taxes is not exactly the most fun part of this industry.
At Axiom Finance, we’ve worked first hand with Ethereum-based projects in all of these areas — with a variety of software that makes it all a bit easier.
Here’s the FinOps stack we’re commonly using (and, in our experience, works extremely well).
Accounting & Tracking
Gilded is a crypto tracking, accounting, invoicing, & payments platform.
Functionally, most Ethereum projects would benefit from adding a wallet or an exchange address into Gilded. This allows you to see all activity and classify the transactions as needed — as income, an expense, a trade, or a transfer.
Gilded has a native integration with Quickbooks so you can easily combine your crypto & fiat accounting.
VeriLedger is a robust crypto accounting software that aims to speed up the crypto reconciliation process via pattern matching.
It handles all necessary conversions of historical crypto transactions to USD and features automated financial statement compilation.
Check out the demo video to see it in action.
You’ve probably heard of QuickBooks, the ubiquitous accounting software. And you’ve probably said that you never want to use it — understandable.
Sometimes with web3, we need a dash of web2 to make things work and stay compliant.
That’s where QuickBooks comes in.
Tax
TokenTax is a leading crypto tax platform that automates parts of the crypto tax form process through trading and transaction history.
They have integrations with all major exchanges including Binance, Coinbase, Kraken, and Gemini.
More interestingly though, they have native tools that help you with DeFi related taxes on platforms like Compound and Uniswap.
Unlike some other crypto tax software, they also file the return for you and have a handful of CPAs on hand to help with the process.
They work with all types of crypto participants — individuals, crypto startups / projects, and crypto funds.
Payroll
Sablier allows anyone to “stream” ETH and a variety of tokens to any Ethereum address over a set period of time.
This has many potential use cases but one that may be especially relevant for Ethereum projects — paying contractors.
You’ve also probably already heard of Gusto, the ubiquitous payroll & benefits platform.
Once again, adding in a dash of web2 for payroll helps projects stay compliant with payroll taxes, withholding, contractor payments, and anything else that may come up.
Fund Management
FinOps isn’t just all about accounting, reporting, tax, and payroll. The day-to day operations of any crypto project often requires solid process around fund management and disbursal of funds.
Gnosis Safe is the easy pick here. It’s a configurable multisig where you can customize the number of owners and required confirmations by # of owners.
Once created, the Gnosis Safe interface can serve as a place to monitor fund dispersal for your various safes.
Bringing it all together
Axiom Finance has implemented and maintained this FinOps stack for multiple Ethereum projects in order to streamline internal financial operations & accounting processes.
If you want to do this yourself, try out the various services above.
If you want to outsource it to Axiom Finance— reach out and say hello or send me a note at alex@axiom.finance.
