Crypto Academy Week 15 - Homework Post for Professor @sapwood : Liquidity Mining (Tron- Sun.io)

aneukpineung78 (68)in SteemitCryptoAcademy • 3 years ago

This is my homework post for Steemit Crypto Academy Season 2 Week 7 for Professor @sapwood’s lesson Liquidity Mining (Tron- Sun.io).

Note : I performed this task on Windows 10 PC, Google Chrome browser and the needed extension (TronLink Wallet).

1. Connecting TronLink Wallet to sun.io

First time first. Open sun.io on the browser. When the webpage open, click the [Connect to Wallet] button.

But, since I was doing the task on Google Chrome browser, so I needed the TronLink Wallet Chrome extension to connect to sun.io. And I have already had the extension installed, so I just proceeded with some simple steps as follow:

I opened sun.io webpage;
I activated the TronLink Wallet Chrome extension. And on the appearing popup box, I filled the password. This is not the wallet password, this is the extension password.
The password was correct, the TronLink Wallet was connected.

And the [Connect to Wallet] button was replaced with the address of connected TronLink Wallet.

And when I clicked on the address button, this popup box appeared:
^{SUN balance was 0.}

Okay. Ready to roll!

2a. What Are The Different Liquidity Mining Pools?

The picture below shows the Liquidity Mining Pools on sun.io.

There were 9 different liquidity mining pools available as shown in the picture above. The table below will help us observing and understanding the data in the simpler way (the table is created with a ranking arrangement from the highest APY to the lowest APY).

No	Liquidity Pool	Total Staked (USD)~*	APY (%)~*
1	SUN-TRX	27,389,309	35.12
2	TUSD-TRX	48,791,365	19.66
3	WIN-TRX	39,942,367	8
4	USDJ-TRX	256,669,615	6.23
5	WBTT-TRX	154,824,587	6.21
6	BTC-TRX	108,388,363	5.91
7	JST-TRX	164,837,556	5.83
8	USDT-TRX	344,380,067	4.64
9	ETH-TRX	78,184,642	4.09

~* Note : Total Staked and APY percentage numbers changed through time. They depend basically on the related activities of users. The numbers shown in the table above were the numbers when I performed the task.

2b. Which One Offered The Highest APY?

As shown on the table above, the SUN-TRX LP offered the highest APY at 35.12%.

2c. How Many Different Rewards Do I Get By Staking LP Token?

For staking LP token, I would get 5 different rewards, which were: Tron (TRX), Sun (SUN), Just (JST), BitTorrent (BTT), and Wink (WIN). The rewards to get showed under each Liquidity Mining Pool pair box. For the example, it was shown at the picture below for the SUN-TRX LP. It showed the mining bonus percentage of each reward to get. The percentage was different for each reward.

3a. Obtaining LP Tokens By Adding Liquidity In JustSwap

I needed to go to JustSwap web page, which was here: https://justswap.io/. On page, I needed to click the [Pool] button.

^{I had 95.71 TRX on my TronLink Wallet.}

Once I switched to Pool, I clicked the blue [Add Liquidity] button

Then I needed to fill in necessary information.

I wanted to supply an amount of 10 TRX and USDT, since I have enough TRX and USDT in my wallet. So I filled in the TRX amount and hit the [Select a token] button. A drop-down list of tokens appeared and I selected USDT.

This was what I came to :

I hit the [Supply] button. Wallet Approval was requested to be able to proceed.

I hit the [Accept] button.

I clicked the [Confirm Supply] button.

There was it. The liquidity was added.

3b. What Was The Quantity

For supplying liquidity as much as 10 TRX pairing with USDT, I received 12.098761 S-USDT-TRX Liquidity Pool Tokens as shown on transaction detail tronscan page.

^{Transaction detail on tronscan as read here.}

4. Staking LP Token To Earn Five Different Tokens On sun.io

Now that I had 12.098761 S-USDT-TRX LP Tokens I can use to earn reward of five different tokens on sun.io. So I went back to sun.io webpage. And I choosed USDT-TRX LP by clicking the [Select] button on the below side of it.

Approval was requested.

I clicked the approval button. TronLink Wallet confirmation popup box appeared where I clicked on the [Accept] button to proceed with it.

The transaction was approved and the detail was recorded on tronscan here.

When I closed the popup box, I saw another popup box appearing. This was the popup box where I needed to fill out the amount of LP Tokens to stake. I thought I was gonna stake all the LP Tokens, so I hit [MAX] button, it automatically filled the amount with all I had.

And then I clicked the [Stake] button.

TronLink Wallet approval was needed.

I clicked [Accept].

Transaction was submitted on to blockchain, and recorded here on tronscan here.

^Staked!

Since I had staked the S-USDT-TRX LP Tokens, appeared the [Details] button on the below sidew of the USDT-TRX LP and the darkblue [Select] button of USDT-TRX LP has changed to a green [Manage] button. The both buttons served the same purpose.

The [Details] and the [Manage] buttons showed this information when I clicked on either one of them:

So, actually I would be getting 6 rewards, which were : TRX, SUN, JST, BTT, WIN, and BTCST.

[Manage] button showed the same information when I clicked on it. So, the two buttons functioned the same.

5. Which Reward (out of five different rewards) Can Be Withdrawn At Any Time And How Do Claim That

Out of all rewards, there is one that available to claim at anytime, which is SUN. While another rewards require the process of unstaking before it can be claimed.

To claim SUN reward at anytime, one just need to click on the [Claim] button next to SUN amount. Once the [Claim] button is hit, the TronLink Wallet approval popup box appears, a click on the [Accept] button would confirm the claim of SUN reward.

6a. The Schedule Of Unlocking The Mining Rewards

On the Claim segment of mining rewards details, there were two different columns, Upcoming and Frozen.

Upcoming column contained the information of the rewards amount that will be automatically sent to wallet within a maximum of 7 days after staking. So it was like the information rewards of the week.
While Frozen column showed information of total rewards that will be partially unlocked and sent to wallet once a week. It takes 6 months (24 weeks) to unlock all rewards. It’s like when someone powered down their SP, took some weeks to complete powering down.

6b. The Total Undistributed/Distributed Mining Rewards

As shown on the picture below this, there were a total of <$0.001 undistributed mining rewards. And, because I was just staking, so there was no information about the total distributed mining rewards. I think the information about the total distributed rewards would appear after a one week period of time since the staking begun has passed, because that was the time needed for every staker to get their first mining rewards.

7. Energy & Bandwidth Consumption For The Staking Process In sun.io and Obtaining LP Token In JustSwap

7a. Obtaining LP Token In JustSwap

The picture below was the screenshot from tronscan and it shows that to add the liquidity of 10 TRX and 0.726797 USDT, I used 383 Bandwidth and 60,902 Energy, and 8.52572 TRX was burned to accommodate then lack of 60,898 Energy.

7b. Staking Process In sun.io

The staking process I did was recorded on tronscan at this detail page. This below was the screenshot from that page, which tells us that staking an amount of 12.098761 S-USDT-TRX consumed 313 Bandwidth and 89,516 Energy. And I needed to burn 12.52972 TRX to accommodate the lack of 89,498 Energy.

The table below should help us observing and comparing the use of Bandwidth and Energy on both transactions.

8. Unstaking LP Token And Claiming Mining Rewards

To unstake and claim mining rewards, I reached the Liquidity Mining section on the sun.io page. I clicked on the [Details] button or [Manage] button of the staking I had.

The details popup box opened. Unstaking could be done partially by filling in the amount to be unstaked. To unstake all, just hit the [MAX] button.

In this case I was unstaking an amount of 6 USDT-TRX LP. So I filled in the box.

And after filling in the amount, the [Claim & Unstake] button below was becoming active to click. So, to finish the task, I clicked on it. The TronLink Wallet approval requested.

I clicked [Accept] button.

Transaction submitted to and recorded on blockchain and is now the detail available on tronscan at this page.

In the below image was the information of the Liquidity Mining I did for USTD-TRX LP after I unstaked some amount of S-USTD-TRX LP Tokens.

When I checked the details after about 30 hours, I saw a changing of amount in my Frozen rewards of BTT and WIN, as showed in the picture below.

For unstaking 6 S-USDT-TRX, I needed 313 Bandwidth and 153,351 Energy.

Conclusion

Of all three transactions (obtaining LP tokens to add liquidity in JustSwap, staking LP Tokens on sun.io, and unstaking LP Tokens and Claiming rewards), if we would like to compare, obtaining LP tokens consumed the most Bandwidth while unstaking and claiming rewards consumed the most Energy. Look at the table below.
Staking is like depositing some amount of money in the bank, in which the depositors will get interest.
Staking could be canceled at any time.