Crypto Academy Week 11 - Homework Post for [@sapwood] … by @benton3
Hello fellow steemians, it is good to be back once again in crypto academy. Today, I will be writing on the homework task of @sapwood about Justlend.
1. What are the different Markets available in JustLend, which market offers the best Supply APY, and which market offers the lowest borrow APY?
The different types of market available in JustLend are
Trx market, USDT market, BTC market, ETH market, SUN market, JST market, USDJ market, WIN market and WBTT market
The screenshot is shown below.
These screenshots show the market overview.
The market that has the best supply APY is the WIN market from the screenshot above. It has a supply APY of 16.24%.
WIN market with best supply APY.
The market that has the best borrowing APY is the USDJ market, which has a borrowing APY of 0.73%.
USDJ has the lowest borrowing APY.
2. How do you connect TronLink Wallet to JustLend, and How do you supply a token(e.g. TRX, SUN, JST, etc) to earn Supply APY? (Screenshot Needed)
To connect to Tron Link wallet
I will open my tron link wallet.
TronLink wallet
Click on discover
Discover tab
Select and click on JustLend icon
JustLend icon
A dialogue box will come out asking to agree with the terms and conditions, once agreed,
The terms and condition agreement box.
hurray your wallet has been connected to JustLend. This you can see from the screenshot below.
JustLend page.
How do you supply a token(e.g. TRX, SUN, JST, etc) to earn Supply APY? (Screenshot Needed)
To provide the tron needed to earn the supply APY, I will click on supply on the tron row,
It will bring out a page where you will type in the amount of tron you want to supply, input the amount and click on supply.
It will then bring out a dialogue box where it will ask for confirmation and informing you of the importance of confirmation the transaction with your password, then click on continue.
It will then bring out a confirmation page, where you will i put your pasword, then do so.
It will now send a confirmation that the supply has been done and the jtoken, will now be in your wallet.
3. How do you acquire jTokens, after supplying a particular token, check your TronLink Wallet and indicate how much jTokens you have acquired? (Screenshot Needed)
The jtrx, was acquired after the supply of tron was made.
Just with 40 tron, I have acquired a jtrx of 3,998.
4. How do you collateralize jTokens to borrow another asset? Borrow any asset of your choice(e.g. USDT), you can borrow a micro amount(as little as 1 USDT), include the entire process with screenshots?
To collateralize jtoken, click on collateral beside where you have your total supply.
It will bring out a dialogue box that will show your borrowing limit and will indicate that you use tron as your collateral.
Click on use tron as your collateral.
It then bring out authorization tip page, click on continue,
it will then bring out the page where you will enter your password.
Enter the password and then it has been locked as your collateral.
Tron has been enabled as the collateral.
Now I want to borrow USDJ.
Go to USDJ row, click on borrow.
This will bring you to page when you will enter the percentage you want to borrow based on your borrowing limit. For me I used 2.5 which is about 70% of my capacity.
Click on borrow
You will go through the same procedure of authorizing your transaction using your password.
Once this is done, the borrowing has been done.
Unfortunately for me, i did not see anything as being borrow, thw USDJ was not there, and my tron is locked up.
I went to Tronscan to confirm, it there, but the transaction failed. I am yet to get my tron back.
See below the tronscan page confirming it has failed.
You can see the balance on my tron wallet, everything is gone except the jtoken.
5. How much interest did you pay, under what condition it will trigger liquidation? What is the net APY in your case? What is the Account Status(Risk Value) in your case? (Screenshot Needed)
How much interest did you pay, under what condition it will trigger liquidation?
Since the borrowing. transaction failed and my tron token gone, I cannot determine the answers to the above questions.
What is the net APY in your case?
My net APY is still the interest Iearn from lending or supplying to the pool. That is 4.58% APY.
What is the Account Status(Risk Value) in your case? (Screenshot Needed)
My account status is still showing low risk. See the screenshot below.
6. How do you repay & unlock your asset in JustLend?(Screenshot Needed)
I do not have any asset to repay, thatmis affecting my withdrawal of my supply i guess.
I tried withdrawing redeeming my asset, but will always tell me Tronscan failed to confirm.
This is the screenshot while redeeming my asset.
I would appreciate any assistance that can assist me unlock my supply and be able to withdraw it. Also any assistance to help me recover the 33 tron locked for borrowing which did not reflect will be appreciated.
This assignment really gave me a tough time. This is the first time, I am doing this kind of thing. But I have really learned a lot from it.