Crypto Academy Week 11 - Homework Post for [@sapwood] … by @benton3

in SteemitCryptoAcademy3 years ago (edited)

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.

Screenshot_20210429-083817_Chrome.jpg

Screenshot_20210429-083820_Chrome.jpg
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%.

20210429_084944.jpg
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%.

20210429_085646.jpg
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.

Screenshot_20210429-091518_TronLink Pro.jpg
TronLink wallet

Click on discover

20210429_092402.jpg
Discover tab

Select and click on JustLend icon

20210429_092319.jpg
JustLend icon

A dialogue box will come out asking to agree with the terms and conditions, once agreed,

Screenshot_20210429-091557_TronLink Pro.jpg
The terms and condition agreement box.

hurray your wallet has been connected to JustLend. This you can see from the screenshot below.

Screenshot_20210429-091619_TronLink Pro.jpg
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,

20210429_101303.jpg

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.

20210429_101512.jpg

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.

20210429_101648.jpg

It will then bring out a confirmation page, where you will i put your pasword, then do so.

Screenshot_20210429-094221_TronLink Pro.jpg

It will now send a confirmation that the supply has been done and the jtoken, will now be in your wallet.

Screenshot_20210429-100055_TronLink Pro.jpg

Screenshot_20210429-100358_TronLink Pro.jpg

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.

20210429_103146.jpg

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.

20210429_172850.jpg

It will bring out a dialogue box that will show your borrowing limit and will indicate that you use tron as your collateral.

Screenshot_20210429-104539_TronLink Pro.jpg
Click on use tron as your collateral.

Screenshot_20210429-104548_TronLink Pro.jpg
It then bring out authorization tip page, click on continue,

it will then bring out the page where you will enter your password.

Screenshot_20210429-104612_TronLink Pro.jpg
Enter the password and then it has been locked as your collateral.

Screenshot_20210429-104620_TronLink Pro.jpg
Tron has been enabled as the collateral.

Now I want to borrow USDJ.

20210429_180949.jpg
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.

Screenshot_20210429-104934_TronLink Pro.jpg

Screenshot_20210429-105050_TronLink Pro.jpg
Click on borrow

You will go through the same procedure of authorizing your transaction using your password.

Screenshot_20210429-105213_TronLink Pro.jpg

Screenshot_20210429-105223_TronLink Pro.jpg

Screenshot_20210429-105237_TronLink Pro.jpg
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.

Screenshot_20210429-111418_TronLink Pro.jpg

20210429_181930.jpg
Image source

Screenshot_20210429-182223_TronLink Pro.jpg
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.

Screenshot_20210429-183804_TronLink Pro.jpg

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.

Screenshot_20210429-192017_TronLink Pro.jpg

Screenshot_20210429-192648_TronLink Pro.jpg

Screenshot_20210429-192746_TronLink Pro.jpg

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.

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