Accounting rules

Five rules decide every number in the book. They are stated here because each one is a place where a P&L figure can be quietly inflated.

Cost basis is weighted average

A partial sell releases a proportional share of cost. Selling half a position releases half the cost, not the cheapest half and not the whole of it.

A token that arrives without a purchase has no cost of zero

Airdrops and transfers in are not free inventory. Their quantity is tracked apart, and proceeds from selling them are excluded from profit rather than counted as pure gain.

Unknown is not zero

If tokens left the wallet and the matching receipt is not in the snapshot, the result is unknown. Writing zero there would invent a loss that never happened — at one point this single rule was the difference between a reported loss and the real result.

Quotes never mix

Some tokens here are bought with a stablecoin or a tokenised stock rather than with ETH. Those trades keep their own book, counted in the unit actually paid, and are never converted into ETH or dollars: there is no reliable historical price for those quote assets.

This rule has bitten twice, both times the same way:

• gas is paid in ETH, and subtracting it from a result denominated in USDG once corrupted that book by ten orders of magnitude;
• the equity curve summed every book at once, and because tokenised stocks carry the same 18 decimals as ETH, the line ended at 23.4 "ETH" instead of the real 12.27.

Both are now covered by tests.

Failed races are a cost, not a position

Reverted attempts move no tokens but burn gas: unknown of them are in this snapshot, costing unknown ETH. That cost is not attributed to any position — it sits on its own line.

Reverted transactions are only visible where the explorer lists them, and it lists them for the first wallet alone. For the newer wallets the count and the gas are unknown, so the headline is the figure before that gas: +52.41 ETH. Writing zero there would flatter the result by exactly the amount we cannot see.

Landing replay

The landing counter replays the historical results of closed positions, grouped by the UTC date of their final exit. One second advances one calendar day; moving along the chart selects a date. It is not a live balance or a forecast.

The line sums the rounded position results in the public book. A position's whole result enters this particular chart when it closes; the Result tab instead follows the timing of recorded sales. Transfer-only rows without an entry date contribute no recorded profit and are not assigned an invented closing date. The replay includes losing positions and uses the same incomplete gas coverage described above.