Goldsky

DeFi accounting for positions and vaults

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What it is

DeFi position and vault accounting is booking what a firm holds in DeFi protocols at period end: vault shares, lending deposits and debt, and rewards that have accrued but haven’t been claimed.

Asset managers and crypto banks do it at every close because these positions change value without any transfer in or out, so a wallet balance alone misstates them.

Goldsky decodes each protocol’s events into your warehouse and reads positions at the period-end block; your team sets the period, prices the positions and posts the journals.

How DeFi position accounting works at period end

The diagram follows one period close from the protocol activity that changes each position to the journal entries your accounting team posts, and shows who does each step. Your setup may differ.

Close the periodFinance sets the period-end block

TurboDecode protocol eventsVault, lending and reward events, in your warehouse

Positions changeDeposits, borrows and rewards across protocols

Calculate positions and PnLYour prices and cost-basis rules

EdgeRead positions at period endShares, debt and accrued rewards, by eth_call

Book the entriesYour accounting team posts journals

Goldsky

Move positions onchain
Every deposit, withdrawal, borrow, repayment and reward claim changes what the firm holds in a protocol.
Each change is recorded as an event in a block. Some value builds up with no event at all, such as interest on a loan or rewards not yet claimed, so events alone never tell the whole story.
Decode every protocol event into your warehouse
Handled by Goldsky Turbo
Accountants need each position change as a readable row: what happened, how much and when.
Decode each protocol’s events with its contract definition, from the day each position was opened. Missing history breaks cost basis, because the cost of a position depends on every deposit and withdrawal before the close.
Goldsky’s Turbo Pipelines decodes each protocol’s raw logs with _gs_log_decode, and one decode can fan out into a table per event, such as deposits, borrows and reward claims, with history backfilled from start_at: earliest.
Decode logs with an ABI (opens in a new tab)
Close the period
Everyone has to value the same moment, so finance fixes the cut-off before anything is read.
Finance sets the period-end time and the block that matches it on each chain. If different positions are read at different blocks, the books describe a portfolio that never existed at any one time.
Read positions at the period-end block
Handled by Goldsky Edge
Vault shares, debt with interest and unclaimed rewards only exist in each contract’s current state, not in its events.
Call each contract for the firm’s shares, debt and accrued rewards as of the closing block. A read taken after the close includes interest and rewards that belong to the next period.
Edge RPC responds to eth_call at the block you name, so a call to a vault’s share balance or a lending market’s debt function returns the figure as it stood at the close.
Read state at a block (opens in a new tab)
Calculate positions and PnL
Shares and token amounts become numbers for the books only once each has a price and is compared with its cost.
In your warehouse, convert shares to underlying tokens, price them, and work out gains, losses and income under your cost-basis rules. Totals and per-period sums are queries your team runs on the decoded rows, so the rules stay yours to change.
Book the entries
The close is done when the positions and income are in the general ledger.
Your accounting team posts the journals and keeps the reads and calculations behind each one. An entry nobody can trace back to its block and price is hard to defend at audit.