Yes, this has been the most-awaited update on Giottus in recent times! Based on the valuable feedback from our users, we have relaunched our Crypto Portfolio (beta) widget. Along with the launch, we have updated the methodology for estimating your net costs and the current profit/loss (P&L) of your portfolio.
These, we believe, give you an accurate and updated snapshot of your portfolio performance and help you make more informed decisions. Let us dive into what is new and why these changes matter.
What’s New in Our Estimates?
Previously, our P&L display combined both realised and unrealised profits and losses. We understand that this made it harder to track your portfolio’s current value at any given time.
To simplify this, we have now refined our approach to showcase unrealised P&L only. This gives a clearer snapshot of your potential profits or losses based on the current market prices of the assets you hold.
Key Elements of the New Methodology
The updated methodology behind the net cost and P&L estimate of your current portfolio is designed to be both transparent and user-friendly.
Here are the main components:
Current Portfolio Value: This is calculated by multiplying (sum product of) the assets you hold with their current market prices.
Net Cost: This is the total amount spent to acquire your current holdings. The net cost will always be greater than or equal to zero, ensuring you see the correct acquisition value of your portfolio.
Unrealised P&L: The difference between your current portfolio value and the net cost gives you unrealised profits or losses. This reflects how much you stand to gain or lose based on the market value of your assets.
FIFO Method: When you sell assets, the First-In-First-Out (FIFO) method is applied. The earliest ‘buy’ events are removed from the net cost calculation, and recent purchases continue to be part of the cost estimate.
Crypto deposits: When you deposit crypto, it is treated as a ‘buy’ at the market price at the time of the deposit.
Referral bonuses, promo codes, airdrops, and staking income: These are considered 'buys' at zero cost, allowing you to accurately see the value added to your portfolio.
Selling & Withdrawals: When you sell or withdraw an asset, it is considered a sell event (please note: this is only for net cost estimation). When an asset is withdrawn from your portfolio, its acquisition cost is subtracted from the net cost calculation at the current market price. In cases of hard forks or rebranding, the acquisition cost of the original asset will transfer to the new or airdropped asset.
Introducing the Crypto Portfolio (Beta) Widget
Our enhanced Crypto Portfolio (beta) widget is now live, providing you with a detailed view of your portfolio’s value and unrealised P&L. Kindly go to www.giottus.com/dashboard to access this widget.
This new feature was developed after listening to your feedback, and we believe it will provide better clarity and precision in tracking your investments.
We are eager to improve your experience on Giottus. If you have feedback on the new widget or anything on our platform updates, please feel free to reach out to us at [email protected].
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.
