Crypto Academy / S4W5 - Homework Post for [Kouba01] - JustSwap

Greetings again dear colleagues, we are in a new week of the cryptoacademy, where professor @kouba01 gives us an excellent class on the JustSwap platform, as well as all the benefits it has to offer ourselves and all the activities that we can carry out in it.

We know that the world of DeFi is very advanced, therefore, today there are millions of platforms that exist for our benefit in the area of ​​our finances. That is why I have decided to participate in this class, to continue learning more and more.

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1) JustSwap

Lately we have witnessed the importance that the TRON blockchain has had in recent times, and how it has significantly impacted the decentralized finance market, bringing thousands of projects to our advantage for our use and benefit. This extremely fast and scalable blockchain has launched a new project called JustSwap on the market in 2020, a decentralized exchange that offers us multiple tools to operate in favor of our finances.

JustSwap is an exchange (DEX) that is backed under the TRON blockchain, where they allow us to exchange mainly standard TRC20 tokens, or for the native currency of the blockchain (TRX). This exchange has extensive tools so that millions of users or investors around the world can operate without any type of intermediaries, that is, only we will be solely responsible for each operation that is carried out.

However, it also has other characteristics that make it unique and different from other exchanges, one of them is the advantage we have of participating as liquidity providers in the exchange's Pools, giving us the advantage of being able to generate income through it. But we will ask ourselves, where does this income come from? They simply come from each fee charged for carrying out any trading activity on the exchange, then this will be granted to each user who participates as a liquidity provider.

This tool is available within the exchange and is called LP Pools, where we can keep our assets blocked for a certain time, while we earn rewards for providing liquidity.

Security and transparency is one of the greatest advantages of JustSwap, since being a completely decentralized platform, we can be ourselves solely responsible for each activity that is carried out. Each data and information of each operation that is executed cannot be altered or changed, therefore, it gives us a higher level of security and confidence when carrying out our transactions.

To obtain a better development within the exchange, it offers us the possibility of connecting wallets that accept TRC-20 token standards, such as TRONLINK, where we can easily link it to the exchange and start operating successfully. In addition, within its structure we have the availability of having a great variety of currencies within its list for use and commercialization, such as BTC, WBTC, ETH, etc.

One of the best features of this exchange is the low commission charged when we carry out a transaction, compared to other exchanges. In addition, being under the TRON blockchain network, it makes your operations run faster and fully scale.

We know very well that the TRON blockchain works with the delegated proof of stake (DpoS) algorithm, which means that if due to some error or problem, your network crashes or a node stops working, they would not interrupt the work of the others. nodes that do their job, which has the advantage that your network is not paralyzed by anything, since each node is independent. These are one of the biggest advantages that the JustSwap exchange has as it is backed by the TRON blockchain, a higher level of scalability in its network.

In addition to the trading of TRC-20 tokens, the JustSwap exchange offers us the option to participate as liquidity providers, which gives us the advantage of obtaining rewards on it, which makes it a DEX Very accessible and broad for millions of users around the world, giving us the best tools for our finances.

🟢 Its importance within the blockchain of the Tron ecosystem.

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The TRON blockchain has under its scheme a wide variety of DeFi applications that help and drive its development day by day, therefore, the implementation of an exchange under its network, undoubtedly made this blockchain continue to grow exponentially in the market. Despite having 1 year in the market, the JustSwap exchange has demonstrated the great progress it has had in the ecosystem, therefore, the TRON blockchain has once again affirmed the great level of potential it currently has.

Those of us who witnessed the launch and creation of JustSwap, we can see that it broke schemes and numbers in volumes since its launch, immediately surpassing the numbers that were stipulated at that time, guaranteeing us once again the great potential that this has. draft. Furthermore, in magazines and in lectures given, the TRON team stated that this project was crucial and important for the expansion of their blockchain in the market.

This incredible project fulfills a fundamental role for the TRON blockchain, and it is to provide us with a great quality platform, where each tool and adjustment that it has, is ideal for the development of our finances. Therefore, we can say that this project contributes a lot to the development of the TRON blockchain, which is beneficial both for its evolution and for the needs of thousands of users around the world.

JustSwap is another of the wonderful DeFi projects that are backed under the TRON chain, but this time, this exchange (DEX) has come to offer thousands of users a safe and reliable platform, where they can trade standard tokens TRC-20 through fast operations and low cost of commissions. That is why the implementation of this project in the TRON network has served as a boost and development within the ecosystem of decentralized surety.

2) What tokens does the JustSwap trade support? How is the price of a JustSwap token determined (how does it work)?

JustSwap platform is very broad and flexible, it supports the trading of TRC-20 standard tokens, as well as the binding of TRON's native currency (TRX) together with the TRC-20 standard, that is, a An example of this would be (WTRX) (WBTT). However, other series of currencies are also available in the JustSwap exchange listing, some of them are:

• TRX • BTC • WBTC

• WTRX • JST • EHT

• USDJ • HT • LTC

• NFT • SUN • SUNOlD

These are just some of the currencies that are available for commercialization within the platform, so we can see that there is a great availability of currencies that currently have a great weight in the market, therefore, it makes it a very flexible exchange and suitable for thousands of merchants.

To allow the trading of these tokens is very simple, we only have to connect our wallet to the exchange and then they are traded instantly in the market, charging us only a minimum fee for it, whose fees we must remember that they are destined to liquidity providers in the platform, which is amazing as it constantly drives its development. There are no tedious or difficult procedures for us to start trading our tokens within the platform, since JustSwap has a simple and broad structure for both newbies and advanced users.

The best of all is that the liquidity of this platform is infinite, therefore, we can trade our tokens without any problem and without waiting for any time, since the exchange is instantaneous and fast, resulting in the fact that JustSwap offers us a wide and flexible market to exchange our tokens without any barriers.

🟢 How the price of a token is determined in JustSwap.

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This platform determines the price of a token through an intelligent and mathematical function based on a simple equation to determine this, this equation is as follows:

(x * y = k)

Where we can say that X and Y are the tokens, while K is the constant, and where the value of each token is determined by a specific group. That is, both tokens (XY) are proportional numbers that maintain the balance of liquidity in the exchange, since when one decreases the other increases in proportion automatically, adjusting and avoiding the mismatch in JustSwap, while K does not change since it is constant function.

The structure of this exchange works perfectly with a mathematical function based on an equation to maintain and determine the price of a token, where X and Y are different tokens that balance and adjust the liquidity of the platform when an exchange is made. That is, if token X increases, token Y decreases, and vice versa, managing to create a balanced proportion while K remains constant.

3) How do I connect my wallet to JustSwap.io? Is there a mobile application?

As we know, to start operating and trading within a decentralized exchange, it is important to connect our wallet to the platform so that our balance is reflected there and start operating. In this case, JustSwap allows us the option of linking the TRONLINK wallet for the linking process, however, we must also know that there is a mobile wallet available so that we can also link it through our mobile, which is called TronLinkPro, which is available for mobile devices and operating systems like Andorid, iOS.

In this case I will show step by step how to link my wallet with JustSwap through my computer:

• First of all we must connect the TRONLINK wallet extension with our default browser, in this case I am using the Chrome browser, therefore, I must connect it with it.

• I went to the following interface, I clicked Connect with Crhome

TRON connection with Chrome browser

• After successfully having my wallet linked to the Chrome extension, I proceeded to head over to the JustSwap platform.

JustSwap.io

• As we can see, we get a wide interface, where we can distinguish a small item that tells us "Connect to wallet"

• We will click there

• The option to connect with Tronlink appears, therefore, we will click there.

• An interface will automatically open to us indicating if we want to connect our wallet with the exchange. If we agree, we will click connect.

• And instantly our wallet will be connected to the exchange, to verify this we can see how the exchange interface is updated and shows us the address of our wallet

¡And that's how easy and simple it is to connect our TRONLINK wallet with the JustSwap exchange! Now we can start trading our tokens successfully.

4) Include a real example of your interaction with Just Swap, demonstrate how you can trade on the platform.

As I mentioned earlier, trading on JustSwap is very simple and flexible, any novice investor can quickly trade on the platform, as it does not take tedious processes or anything like that to execute a trade.

That is why below I will show you step by step how to market through it.

• Once we have linked our wallet with the exchange, we must have active funds to start operating.

• In this case, I went to the exchange section and selected the tokens that I wanted to exchange.

• In this case since I have TRX, I am going to exchange them for the SUN token

• Then we must enter the amount we want to exchange, and it will automatically be reflected in the token that we are going to receive

• As we can see, I am going to exchange 15 TRX, for a total of 50.7184 SUN, with a minimum fee of 0.46 TRX.

• If we agree to the exchange, we will click on SWAP

• Then a small interface will appear indicating the precise details of our exchange.

• We can see in detail the price of the token that we are going to exchange, the exact amount that we are going to receive, and the amount in TRX that we are going to change.

• If we agree, we will click on "Confirm exchange".

• Then our TRONLINK wallet interface will automatically open, indicating if we want to continue with this procedure.

• If we are sure we will click on sign.

• After signing, a small message will appear in the upper right corner, indicating that we have successfully exchanged 15 TRX for 50.7184 SUN.

• And finally we can see that our exchange was completely done:

• We will click "close" to terminate our operation.

• We will go to our wallet, and we can see how our SUNs are reflected there.

¡And so it is completely simple to carry out operations through JustSwap!

5) Include a real example of your interaction with Just Swap, explain how to add liquidity to JustSwap.

How do we know, we can be liquidity providers in JustSwap, that is why I will show step by step how to perform this procedure:

• We go to the main page of JustSwap, and we will click where it says "Pool"

• As we can see, we will get an interface where we can start adding liquidity, currently I do not have anything since I have not started yet.

• Then we will proceed to click on "Add liquidity":

• We can find an interface similar to that of the exchange, we just have to select the tokens to exchange and that's it

• However, we can find a noticeable difference, and that is that the main token to be exchanged is only the TRX, therefore, it is essential that we have this token in our wallet.

• The second token we can choose those that are available in the JustSwap list.

• In this case I decided to exchange TRX for SUN again.

• I placed the amount of 5TRX for a total of ** 16.9128 SUN **

• We will click on "Supply"

• Then to finish completing the process, our wallet interface will automatically open, indicating if we are sure to continue with the procedure.

• To continue with our operation we will click on sign.

• We can see how our transaction was successfully approved, and we can see a message that indicates that SUN approved the transaction.

• Now we can see how satisfactorily our exchange has been carried out, now we just have to click on "Confirm supply" to continue with our operation.

• We can see relevant details of our supply, such as the amount, the fee and our percentage for participating in the Pool.

• In order to continue with our procedure, we must sign through our TRONLINK wallet.

• It will open its interface and we will click on sign

• And now we can see how we have successfully added liquidity to the Pool, if we want to confirm this operation we can go to tronscan.

• Finally we will click on close.

• Now we can see how our aggregate liquidity will appear in our Pool interface.

It's that easy and simple to become a liquidity provider at JustSwap!

6) Conclusion

• JustSwap is an incredible decentralized exchange that offers the best tools and settings so that users can operate through it, it is designed under a simple and flexible structure that allows us to operate without tedious and complicated processes.

• Being under the support of the TRON blockchain, makes it a very solid project, where it is currently very well positioned in the market, with the best rates in commission costs.

• Its main objective is to offer users a platform where they can market their finances, but in a reliable, transparent and secure way.

• One of the best features that JustSwap offers us is the simple fact of offering ourselves to become liquidity providers through its Pool section, where we can earn a commission of 0.03% for each operation executed on the exchange.

• It has a very solid structure where they work so that the liquidity of the project remains balanced, through a mathematical function based on an equation, and where the price of a token can be calculated through it.

These types of projects are the ones that continue to promote the development of the decentralized ecosystem and finance every day, that is why I thank professor @kouba01 for teaching this incredible class on JustSwap.

Until next time, it was an honor to participate.

(All the screenshots exposed in this class, were taken from the JustSwap platform)