OpenPool: FAQ

What is OpenPool?

OpenPool offers an API that powers your product’s on-chain financial reporting & analytics stack. Our headless solution maximizes developers’ flexibility to create custom dashboards or reporting by cleaning, normalizing, tagging, and enriching on-chain tx data at scale. We support 7.5K+ tokens, leading DeFi protocols, and NFTs on Ethereum and major EVM chains. You can find documentation about the OpenPool API at https://docs.openpool.co.

What is the OpenPool API and why did you guys launch it?

Processing and navigating blockchain transaction data is time-consuming, while creating accurate on-chain reporting requires precision and financial know-how. We experienced this first-hand and want to help other builders or startups launch faster. OpenPool's API allows you to build bespoke financial dashboards and internal reporting to support business operations and customer demands in days, not months. While accounting ledger systems can be viable solutions, OpenPool empowers you to escape the confines of pre-built dashboards and embrace the freedom to tailor solutions to perfectly fit your needs.

What is OpenPool best suited for?

Pricing and Market Data: OpenPool allows you to access real-time pricing for 7.5K+ tokens to fuel live or historical profit and loss calculations for token or DeFi investments with precision. Our pricing feed includes second-by-second historical pricing data for high-volume tokens. For NFTs, we support Cost Basis and Floor Pricing calculations from multiple major marketplaces.
Financial Reporting Data: You can seamlessly uncover cost basis, P&L, realization events, and DeFi reward accruals without calculating a single financial metric. We support major accounting methods including FIFO and Average Cost, and allow you to choose whether to display financial data in native cryptocurrencies or in USD.
Smart Contract Identification & Attribution: Simplify reporting for all your stakeholders by leveraging our database of 20K+ smart contract labels to swiftly identify smart contract addresses. Apply custom labels (that are private to you) to counterparty smart contract/wallet addresses to improve clarity and make transaction histories human-readable for everyone!

What are some popular ways I can Leverage the OpenPool API?

Treasury Wallet Performance Reporting: Keep tabs on your treasury wallet's performance and gain valuable insights for better decision-making.
DeFi Platform Performance Tracking: Do you really know if your DeFi or staking activities are up or down? Since reward token prices fluctuate, DeFi interest rates/APYs only tell half the story. Track DeFi protocol investments with precision, optimizing your strategy and maximizing profits.
Payments Tracking and Reporting: Effortlessly audit and reconcile crypto payments from customers or to employees. Say goodbye to manual Excel spreadsheets!
Tax Reporting: Streamline the tax process by generating inputs for Form 8949, including cost basis and short-term and long-term capital gains/losses, ready to send to your accounting service provider.
Wallet Provider & dApp Solutions: Offer your users robust token market data and analytics, enhancing user experience to take your wallet or dApp to the next level.

How Does the OpenPool API Work?

Sign Up: Start your journey by signing up for a free 30-day OpenPool API account at dev.openpool.co.
Register Your Treasury or Internal Wallet/Smart Contract: Register your company wallet/smart contract with OpenPool to leverage our powerful data processing infrastructure.
Automatic Normalization, Tagging, and Enrichment: Sit back and relax. OpenPool takes the reins, normalizing, tagging, and enriching your full transaction history at scale with pertinent market and financial data.
Leverage OpenPool API Endpoints: Harness OpenPool's suite of API endpoints to quickly get the data required for your custom dashboards and reporting tools. Once your wallet/smart contract is registered with OpenPool, make unlimited API calls for free!

How Can I Start Using the OpenPool API?

You can start using the OpenPool API Free for 30 days. Sign up for an account on the OpenPool Developer Portal to get an API key. From there, you will need to register your 0x address with OpenPool before you can begin making API calls on it. For simple, step-by-step instructions, see the Getting Started page in our Docs.

Why Do I Need to Register my Wallet/Smart Contract with OpenPool? Why are there limits on Wallet Registrations & Transactions for each Pricing Tier?

The first step to leveraging the OpenPool API is to register your wallet within our system using the register_wallet endpoint. Registering your wallet (or smart contract) allows you to access our powerful data processing infrastructure. When you register a wallet with OpenPool, our systems will automatically clean, normalize, tag, and enrich your on-chain transactions with relevant market and financial insights, such as real-time pricing, cost basis and P&L. For simple, step-by-step instructions on how to register a wallet, see the Getting Started page in our Docs.

Since there are processing and other costs associated with the wallet registration process, there are limits on the number of wallets or transactions supported in each Pricing tier. However, unlike many other API services that charge for each API call made, you are able to make unlimited API calls to OpenPool once your wallet is registered.

Where Can I Learn More about the Financial Reporting Metrics provided by the OpenPool API?

You can learn more about the types of financial reporting metrics provided by the OpenPool API in our Docs Glossary. If there’s something you need that we don’t yet provide, please let us know by sending an email to support@openpool.co or providing product roadmap feedback here.

How Much Does the OpenPool API Cost?

You can try the OpenPool API Free for 30 days. See our Pricing Page or reach out to us at support@openpool.co with your specific needs for a price quote. We price based on the number of wallets/smart contracts you register with us, and number of transactions within those wallets/contracts. This is because our costs are driven by data storage and transaction processing. Once you’ve registered a wallet with OpenPool, you can make unlimited API calls on that wallet at no additional cost.

What is the OpenPool Portfolio Tracker?

OpenPool also offers a wallet dashboard that helps self-custody crypto investors easily monitor token, DeFi & NFT portfolios. We want to help investors by providing more informed financial analytics. Our wallet tracker dives deep to surface meaningful insights, like Lifetime P&L, Cost Basis, and Gas Fees paid. OpenPool takes wallet analytics to the next level to simplify complex blockchain data and help you track all your crypto & DeFI wallets in one, beautiful dashboard. Try it out for Free at app.beta.openpool.co

What blockchain networks does OpenPool support?

We support 8 chains with plans to expand:

Arbitrum
Avalanche
Base
BNB
Ethereum
Gnosis
Optimism
Polygon

What wallets and smart contracts does OpenPool support?

We support Ethereum wallets compatible with the blockchains on OpenPool. Some examples include Metamask, Coinbase Wallet, Rainbow and Ledger Live.

We also support Ethereum-based smart contracts.

What tokens, NFTs, and DeFi protocols does OpenPool support?

OpenPool supports 7.5K+ tokens (ERC-20), NFTs (ERC-721 & ERC-1155) and leading DeFi Protocols.

Does OpenPool have control over my tokens & NFTs?

No. The OpenPool Wallet Dashboard is non-custodial, so you never delegate your crypto tokens or NFTs to the OpenPool platform. This means you are in control of your wallet and your crypto assets at all times. Your wallet, your crypto.

The OpenPool API is a data enrichment service. You never delegate control of your digital assets to OpenPool when using the API. See our OpenPool API Terms of Service for more details regarding our API service.

How secure is OpenPool?

We take security seriously at OpenPool. OpenPool is a non-custodial platform, which means you never delegate your crypto tokens or NFTs to OpenPool. In addition, OpenPool will never ask you for your wallet’s private keys.

The OpenPool Wallet Dashboard needs your authorization to access your wallet data. Connecting your wallet gives OpenPool temporary access to your wallet to allow us to create a profile on your behalf so your custom settings (such as Portfolio wallets, Watchlist wallets, and Spam flags) can be accessed the next time to use OpenPool. You can disconnect and manage your wallets on the OpenPool Wallet Dashboard at any time using “Manage Wallets” or by clicking the Profile icon at the top right of the wallet dashboard.

How Can I Learn More or Get in Touch with the OpenPool Team?

We’re always excited to chat and help you solve your unique challenges!

Set up a Free introductory call with our team here
Sign up for an OpenPool API account here and get started with our Docs. Explore our API Free for 30 days!
Visit our blog to access practical how-to guides.
Send us a note at support@openpool.co

Frequently Asked Questions