Asset pegging is a powerful feature that enables the fair market value of one asset to mirror, or “peg,” the value of another asset.
Once configured, these pegged values will be consistently reflected across Cryptoworth, ensuring accurate portfolio tracking. The specific use cases for
this feature can vary based on individual user requirements.
The pegging process involves substituting the unit market price of the Pegged Asset with that of the Pegged To asset. To apply these pegged values across your portfolio, follow the step-by-step instructions outlined below.
Pegging an Asset
From the side panel, click on the Entity name and select Entity Settings.
Select Treatment from the panel.
Select an asset in the "Pegged Asset" column and select a reference asset in the "Pegged To" column.
For instance, if you peg aUSDC (Pegged Asset) to USDC (Pegged To), the market value of USDC will be used when calculating the market value of aUSDC.
You can also peg the value of an asset to a currency (i.e. USD, EUR, etc.).
Click on the Add Peg button.
Click on Save to confirm.
Navigate to the Transactions page and click on the Calculate button. Upon recalculation, the transactions and calculations performed will be updated to reflect the pegged values.
When calculating the market price for the asset, the value of the pegged asset will be used.
Sample Use Case
Pegging a wrapped asset with the unwrapped counterpart
For example, peg Wrapped Ethereum (WETH) to Ethereum (ETH).
Future tax calculations and transaction costs will be calculated for wETH as if it were ETH. This can alleviate deviations, and/or simplify existing reporting.
Removing an Asset Peg
Repeat steps 1 and 2.
Click on the Delete button next to the pegged asset pair.
Click on Save to confirm.
Navigate to the Transactions page and click on the Calculate button to recalculate based on the original (non-pegged) values. However, note that previous calculations will have their values preserved.
