Steemit Crypt Academy week 3 - Home work post for @sapwood | Justlend

damzxyno (61)in SteemitCryptoAcademy • 3 years ago

Hi everyone!!! This is my solution to professor @sapwood's assignment. The topic is on Justlend.

Justlend is a lending platform that allows its users to deposit, withdraw, lend and burrow tokens.

1. What are the different Markets available in JustLend, which market offers the best Supply APY, and which market offers the lowest borrow APY?(Screenshot needed)

The different markets available in JustLend include:

Tron (TRX)
Tether USD (USDT)
Bitcoin (BTC)
Ethereum (ETH)
SUN (SUN)
JUST (JST)
JUST Stablecoin (USDJ)
Wrapped BTT (WBTT)
WINK (WIN)

The market offering the best supply APY is WINK (WIN) at 17.45%. While the market offering the lowest burrow APY is JUST Stablecoin (USDJ) at 0.60%.

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)

I connected my TronLink Wallet account with JustLend Via the TronLink Android Application. JustLend is listed among the popular DApp on my TronLink wallet.

So I simply clicked on the JustLend icon which lead to the JustLend interface. My TronLink wallet was automatically connected to JustLend and I was ready to lend or burrow.

I clicked on the home button which listed all the markets available. In the Tron column, I clicked on supply and a new interface was opened.

In the input box available, I specified the number of Tron I wanted to supply after which I clicked the Supply button and a new interface popped up.

A new interface requesting authorization into my TronLink wallet popped up. I chose to connect through the fast mode because it is quick, I only needed my wallet password.

I inputted my TronLink password into an input box provided in the new interface. It was labelled parameter

My supply transaction was successful.

The transaction reflected on the home page.

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)

After supplying 100 trx to the pool, I checked my TronLink wallet and I found my jTRX in my asset column. I had 9,9996.859064 jTRX.

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?

I turned on the collateral toggle button in my asset supply column. The new interface informed me that I had burrow limit of $8.63.

Afterwards, I clicked on burrow in the WBTT column. I burrowed 10 WBTT and a similar authentication interface as posted above appeared, I chose the fast mode inputted my password and had my wallet credited. It also reflected in my burrow column on the JustLend home

The whole transaction appeared on my account status.

![Screenshot_20210427-074612.png](

)

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)

The net APY in my case as reflected on my account status was 4.63%

My account risk value as reflected on my account status was 0.78%

It will trigger liquidation if my risk value reached 100%.

The interest I payed was 0.000008.

6. How do you repay & unlock your asset in JustLend?(Screenshot Needed)

I repaid my loan with the WBTT token in my TronLink wallet. I used JustSwap to convert some of my Trons to WBTT which was added to the WBTT already existing in my wallet (this is the WBTT I burrowed using JustLend).

I paid 10.000008 WBTT to set off my load, that is an interest of 0.000008

Immediately the transaction was signed, it reflected in my home/ account status. Once I repaid my loan, my collateral (asset) was unlocked.

This is the whole transaction history of WBTT as reflected on my TronLink wallet

Thank you!!

Declaimer: All images used in this post are screenshots taken with my smartphone and are not under any copyright licence.

#sapwood-s2week3 #cryptoacademy #defi #justlend #nigeria #market #steem-exclusive

3 years ago in SteemitCryptoAcademy by damzxyno (61)

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sapwood (75)member 3 years ago

Thank you for attending the lecture in Steemit-Crypto-Academy- Season 2 & doing the homework task-3.

My supply transaction was successful.

Pay attention to the Function-Mint(in the screenshot), when you supplied TRX to JustLend. That literally means that when you supply TRX tokens, you mint jTRX, and as a result, jTRX is delivered to your TronLink Wallet.

The new interface informed me that I had burrow limit of $8.63.

That means the collateral factor in the TRX market is 0.75(or 75% of the Supply).

The interest I payed was 0.000008.

Interest rate accrued at every 3 seconds and keeps on accumulating.

Feedback/Suggestions:-

The author has demonstrated with a real example-- he has supplied 100 TRX to the Supply Pool to earn supply APY and borrowed 10 WBTT. The net APY is 4.63%.
The author is quite organized, however one round of proof-reading is required.

Thank you.

Homework Task -3 accomplished.
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