Crypto Academy Week 15 - Homework Post for @sapwood | Liquidity Mining (Tron- Sun.io)
Hello, fellow Steemains...
Day by day Cryptoacademy is becoming more informative and interesting. This week's lecture of prof -sapwood helped me a lot to learn about Liquidity Mining in details. Here I am submitting my homework.
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Task 1
How do I connect my TronLink Wallet to Sun.io?(Screenshots needed)
Answer
- Landed on https://sun.io/#/sun
- Clicked on the link Connect to wallet
- To connect sun.io with Tron link wallet it requires to login Tron link wallet 1st so I logged in to the wallet from google extension.
- After logged in to wallet it gets connected to sun.io as it shows my Tron wallet address.
Task 2
What are the different liquidity mining pools? Which one offers the highest APY? How many different rewards do I get by staking LP token? (Screenshots needed)
Answer
- Right now there are 9 different liquidity mining pools.
- Here I tried to enlist all liquidity pools and their APY% as of 24-05-2021 7:00 PM IST
| S No | Liquidity Pool | Current APY% |
|---|---|---|
| 1 | ETH-TRX LP | 3.91 |
| 2 | USDT-TRX LP | 4.25 |
| 3 | BTC-TRX LP | 5.45 |
| 4 | JST-TRX LP | 5.58 |
| 5 | USDJ-TRX LP | 5.72 |
| 6 | WBTT-TRX LP | 6.18 |
| 7 | WIN-TRX LP | 7.56 |
| 8 | TUSD-TRX LP | 18.05 |
| 9 | SUN-TRX LP | 36.29 |
So, SUN-TRX LP offers the highest APY i.e. 36.29%
- There are 5 different rewards I can get as a mining reward viz TRX, JST, BTT, SUN, and WIN .
- One more recently added BTCST which we can see below in the screenshot.
Task 3
How do I obtain LP Token by adding liquidity in Justswap? What is the quantity(Explore through your wallet/Tronscan)? (Screenshots needed)
Answer
- To obtain liquidity I must have both tokens of the pair. I.e. I am going to add liquidity in TRX-SUN LP, first I swapped 100 TRX for SUN and got 0.388 SUN for 100 TRX.
- Now to get pool tokens first I added liquidity in TRX-SUN LP
- By supplying liquidity to the TRX-SUN LP I received 9827.3 TRX-SUN Pool tokens
Task 4
How do I stake LP Token to earn five different tokens on Sun.io? (Screenshots needed)
Answer
- To stake LP tokens first I landed on https://sun.io/#/sun and selected SUN-TRX LP
- Clicked on stake and confirmed. It was done
- There are 6 tokens I will receive as s rewards viz. TRX, JST, BTT, SUN, WIN and BTCST. It can be checked by clicking on manage >> claim
Task 5
Which reward(out of five different rewards) can be withdrawn at any time? How do claim that (indicate that in the screenshot)?
Answer
- Out of 6 reward tokens, 33% of Sun can be unlocked and withdrawn any time while the remaining Sun and the other 5 tokens get unlock on weekly basis for 24 weeks.
- Available token can be claimed by clicking on claim in front of available to claim
Task 6
What is the schedule of unlocking the mining rewards? Indicate the total undistributed/distributed mining rewards in the screenshot?
Answer
Mining rewards unlocked on weekly basis in 6 months (24 weeks) period.
Task 7
Include the real example of your interaction with Justswap and Sun.io as required in this task? Indicate how a "stake"(in Sun.io) function consumes different "Energy & Bandwidth" than "obtaining LP token" (in Justswap)? You should add/remove a small amount of liquidity to obtain/redeem your LP token(as little as 1 USDT worth)? (Screenshots needed)
- As I added ~100 TRX and 0.388 SUn to LP and obtain 9827.3 LP tokens so checked the transaction history on JustSwap and clicked on the link to get entry consumption details on Tronscane.
This transaction consumed total 338 bandwidth and 65,636 energy
- As I staked 9827.3 SUN-TRX LP tokens so checked the transaction details to get energy and bandwidth consumption details.
This transaction consumed total of 313 bandwidth and 73958 energy
Comparison of Bandwidth and energy consumption between obtaining and staking SUN-TRX LP tokens.
| Activity | Bandwidth Consumption | Energy Consumption |
|---|---|---|
| Obtaining SUN-TRX LP tokens on JustSwap | 338 | 65,636 |
| Staking SUN-TRX LP tokens on Sun.io | 313 | 73,958 |
Above data shows that Obtaining LP token consumes more bandwidth than staking LP tokens, while Staking LP tokens consumes more energy than obtaining LP tokens.
Task 8
How do I unstake LP token and claim mining rewards(Sun.io)?
Answer
- To unstake LP tokens and claim mining rewards landed on https://sun.io/#/sun and selected the pool in which I staked P token. My pool is SUN-TRX LP and clicked on Details>
- New window opened
- I Selected Max or can be selected any amount we want to unstake.
- To claim mining rewards it is showing 0 Sun in my account
- Finally, click on the button below claim and Unstake and confirm in the next stage. As I don't want to unstake right now so I didn't approve the transaction.
Conclusion
Homework task which involves real-time transaction helps a lot to understand the lesson in details. After completing the above tasks my concepts are clear about Liquidity Mining (Tron- Sun.io). I am thankful to prof. @sapwood for covering one more such an interesting topic.
Gracias por tan detallada explicación, definitivamente complementa la lectura de la clases. Felicitaciones..
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