Tron Ecosystem - Steemit Crypto Academy Season 4 - Homework Post for Task 1 // @fiaznawaz

fiaznawaz (56)Beginner[1,2,3,4,5]in SteemitCryptoAcademy • 3 years ago

Hello users,

Hope so well for all of you. First of all i would like to say thanks to the professor, who gave the lecture in very comprehensive manners. Owing to which i am able to answer the question given in assignment.

Question 02: What are the different dApps in the Tron ecosystem are you familiar with? What are the uses of DeFi applications like Justswap, JustLend, and Sun.io? How can you optimize mining rewards by staking TRX and other TRC20 tokens in Sun.io? Examples

TOPIC:TRON ECOSYSTEM

Source

Tron Ecosystem:

Tron ecosystem is very wide network. Mr. Justin sun is the person who introduced with the term of Tron ecosystem. Tron is the main platform which gives the infrastructure of different decentralized applications.
It is the blockchain system which is known in the whole globalized world due to its excellence networking system. Tron ecosystem consists of different types of products involves:
Publich chains
Wallet client system
Decentralized applications

Decentralized applications

Source

Decentralized applications are more secure and valid. This application is known as the future uphold application due to its worth. This contains a unique and proper system, and is comparable to all the applications which we are using these days. That’s why these are known as “Decentralized apps”.

FEATURES OF DECENTRALIZATION APPLICATINS:

These applications may be known as DApps because of its connection with Block chain Technology. Block chain is a technology which attracts everyone to carry out all types to transactions without any tensions and the fear of leakage of transactions. This provides very safe transaction access.
DApps use another system considered as peer-to-peer system. Which means that there is no proper institution holding its. But, users play crucial role in the development and running all the applications without any authority.

Different dApps in Tron ecosystem

JustLend

Source

It is very important Decentralized Application of Tron network. It is suitable as it acquires the transparent system as well as the effective price system.
Justlend comprises of two pools:

Supply pool
Borrow pool
Supplier can earn interest rate as well as the borrower pays for floating interest rate. Both terms are contradictory to one another. Such as if liquidity in supply pool is greater them the demand or value for borrowed is lower. In such case interest rate decreased. Interest rate in JustLend changes in no time Instead of keeping an eye on interest rate on daily basis , it may be determined for every 3 seconds.

Collateral factor is important term in the JustLend. Which value lies between 0 to 1.When we have to check the loan amount for borrower then we multiply the collateral factor with the collateral value.
When value of collateral factor is 1, then its mean is the higher or better liquidity. Whereas if value is 0 then its mean is lower liquidity in a market competitive system.

The value of collateral must be higher than (Loan value + Accumulated interest) otherwise it would be considered as unsafe.

Market Level of JustLend

There are different markets available to work place.

Source

Justswap

It is the first ever introduces decentralized application of the Tron Network. It allows the user to swap the token without the need of dependency upon liquidity. The token that may be swapped are TRX,TRC20.

How i perform a swap in Justswap:

Way to perform a swap in Justswap.

Steps:

Open the link https://justswap.org/#/home
After that connect TronLink wallet

Selection of token according to the choice
Finally, click over swap and sign it.

Uses of Justswap:

In this application there is unlimited liquidity

How to provide Liquidity:

The Tap (pool) chooses that token which we want to provide. The amount which you want to supply is entered. After that the tap (Approve USDT) is clicked and confirm justswap to use USDT. We can use the tap (MAX) in order to check all the available tokens.
Tap (supply) gives the detail about the transactions and all other related data related to transaction. Tap (Confirm supply) pays the p
Fees after confirmation the transaction's on Huobi Wallet.
Tap (remove) cancel the transaction and we may take our tokens back.
It helps to facilitate the high end liquidity whelps out to conduct the transection fast.
The scalability is high in Tron block chain system due to which, it may be helpful in conducting transections easily.
It is the new brand of Tron network having decentralized token exchange protocol system which helps out to exchange the TRC20 tokens. It also gives assurance and DeFi operability on TRON.

Uses of JustLend:

JustLend is helpful in following manners.

It gives the automatic system of order mechanism. It acknowledges the supply and borrow requirements automatically and operates that return on supply which is very attractive.

Source
It facilitates users at every time. Because the supply and withdrawn networking system is available at all the times.
It is very beneficial and fast network which provides the very fast and cost effective transactions.

Uses of Sun.io

It is the DeFi networking system in the Tron which helps out in stake mining and self-governance etc. Through the stake mining and liquidity mining ons may earn a lot of premium in the Sun network.
SUN is named after Jusin Sun. The founder of Tron explore the new token on twitter account. It is a social networking system on Tron DeFi system. It is powered by the Trons decentralization system while it has been designed from the Bitcoin.
Currently, stable coin pool mining, SUN pool mining, and SUN-TRX LP mining is going on.

For example

If you are a liquidity provider in Justswap (for the pair SUN-TRX) you can further stake your LP tokens to earn mining rewards(SUN-TRX LP offers the highest APY, 73.2%). Similarly, SUN staking pool APY is 41.76%. Sun.io has also introduced stable coin swapping.
Sun.io is very beneficial network in Tron environment. One may be able to earn a lot by using this application. Earning may be possible through stake mining. Stake mining and liquidity mining are two main ways which are very helpful in earning a premium.
In these days stable pool mining, SUN pool mining and SUN-TRX Lp mining are on the top of list.

How stake Trx or other TRC 20 Tokens.

Source

First of all download the TronLink Wallet from chome and after that install the application.
Connect to wallet
On the chrome page, look towards the top right corner of the page given in chrome and sign up a new account.
Now, try to transfer the amount of Trx which you prefer. This can be done from previous wallet to the Tron link address.
If there is no Trx Token than any other like TRC 20 token can be bought from any other exchange.
Now, Sun.io and connect to wallet on the top right side of corner.
Now, you are able to look upon your balance in TronLink wallet.