Crypto Academy Week 15 | Homework post for [@sapwood]..Liquidity Mining (Tron- Sun.io)
INTRODUCTION
Greetings to Steemians, I'm so happy today be here today to discussed about my homework task which was given by our humble professor @sapwood on the topics : Liquidity Mining (Tron- Sun.io).I sincerely thank our professor for the simplicity of words which make it possible for me to be able to understand the lesson before presenting my homework post...................
(1) How do I connect my TronLink Wallet to Sun.io?(Screenshots needed)
I connect my Tronlink wallet to Sun.io through the Tronlink app using the procedures below:
I open my Tronlink wallet, and click on Discover
On the Discover page there is a list of DApp and a search bar, I type in sun.io to visit sun.io page.
I clicked on Enter to accept the user agreement and policy
As I clicked on Enter my Tronlink wallet became connected automatically to sun.io
I clicked on the menu tab at the top right panel to see my Tronlink wallet address, and it's suçcessfully connected.
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(2) Whatt 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)
There are 9 different liquidity mining pools which are available in sun.io. Below are the list of them according to how their are listed.
| Liquidity Mining Pool | Current APY% |
|---|---|
| USDT-TRX LP | 4.64% |
| USDJ-TRX LP | 6.23% |
| TUSD-TRX LP | 19.67% |
| SUN-TRX LP | 35.67% |
| WBTT-TRX LP | 6.08% |
| JST-TRX LP | 5.66% |
| BTC-TRX LP | 5.85% |
| ETH-TRX LP | 3.97% |
| WIN-TRX LP | 7.51% |
These are the screenshots of the 9 available liquidity pools below:
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Which one offers the highest APY?
The one that offers the highest APY is SUN-TRX LP, which is APY 35.67%. Below is the screenshot of the SUN-TRX LP.
How many different rewards do I get by staking LP token?
The different token rewards I get for staking LP token are 5,which are; TRX, JST, WIN, SUN and BTT. But currently BTCST is added to Tron Century mining so right now I can say it's 6 different tokens rewards that o get by staking.
(3) How do I obtain LP Token by adding liquidity in Justswap? What is the quantity(Explore through your wallet/Tronscan)?(Screenshots needed)
In other to obtain token by adding liquidity in Justswap, what you have to do is to first swap your TRX to the token you want to add in liquidity before going to the pool side.
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Above is the screenshot of my suçcessfully swap of 20 TRX to USDT before adding the liquidity in Justswap. Now below is the procedures that I used to obtain token by adding liquidity in Justswap.
First, I opened my Tronlink wallet and click on Discover
On the Discover page, I click on Justswap on the list of DApp
I clicked on Enter to accept the agreement
On the page of Justswap, i switch to pool and then I clicked on Add Liquidity
I selected USDT-TRX to supply 15 TRX
I clicked on confirm supply
I input my password and clicked on Continue
I then see Liquidity Added.
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What is the quantity(Explore through your wallet/Tronscan)?(Screenshots needed)
After I successfully added the liquidity, the quantity of LP token obtained on my wallet/Tronscan is 19.167637 USDT/TRX.
Supply: 15 TRX and 1.219826 USDT.
Transaction type: TRC20 Transfers.
Bandwidth consumed: 383 Bandwidth.
Energy consumed: 60,902 Energy.
TRX burned to accommodate the Energy: 8.52628 TRX.
(4) How do I stake LP Token to earn five different tokens on Sun.io? (Screenshots needed)
The below procedures is what I used to take LP Token to earn five different tokens on sun.io.
I open my Tronlink Wallet and click on Discover
At the Discover page I searched on sun.io just as I did when I connected my Tronlink wallet.
On the homepage of sun.io I select the liquidity mining pool of USDT-TRX LP
I clicked on Approved USDT-TRX LP
I input my password and clicked on Done
After input my password it became Approved and I then clicked on Stake and the amount of LP token as 19.167637 USDT/TRX.
I then input my password and clicked on Done before the transaction became successfully.
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(5) Which reward(out of five different rewards) can be withdrawn at any time? How do claim that (indicate that in the screenshot)?
Among the 5 different rewards, 35.67% Sun rewards can be withdrawn at any time, while the remaining rewards are the undistributed rewards that are distributed on weekly basis for 24 weeks.
How I Claim the rewards from my Staked LP Tokens
On the homepage of sun.io, I clicked on the Manage button of USDT-TRX LP that I stake on.
I switched to Claim.
After that i clicked on the claim button.
I confirmed the transaction by supplying my Tronlink Wallet password before clicking on done and it show Transaction Submitted.
The sun rewards now reflected on my Tronlink Wallet and Tronscan.
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(6) What is the schedule of unlocking the mining rewards? Indicate the total undistributed/distributed mining rewards in the screenshot?
The schedule of unlocking the mining rewards is on a weekly basis for a period of 24 weeks. The total undistributed/distributed mining rewards is <$0.001 and it's shown below on a screenshot.
(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)
In sun.io liquidity mining pool, I Staked 19.167637 USDT/TRX to earn the liquidity mining reward of the 5 tokens.The staking on Sun.io Consume Energy 89,516,Consume Bandwidth 313, TRX burn to accommodate Energy 12.53224 Together with the calling in the stake.
Bandwidth 313 and 89,516 Energy consumed Burn TRX 12.53224 (in Sun.io)
As I obtained 19.167637 USDT/TRX LP tokens, I went and checked on Justswap.io and i discovered in the transaction that Consume Bandwidth 383, Consume Energy 60,902 and the TRX burn to accommodate Energy is 8.52628.
Bandwidth 383 Energy consumed 60,902 Burn TRX 8.52628 (in Justswap)
Comparison of the Bandwidth/Energy consumed by Sun.io staking and obtaining LP token on JustSwap.io
| Resources | Sun.io | Justswap |
|---|---|---|
| Energy | 89,516 | 60,902 |
| Bandwidth | 313 | 383 |
| TRX burn | 12.53224 | 8.52628 |
The above, table shows that bandwidth, energy and TRX burned are enough on Sun.io compared to Justswap.
(8) How do I unstake LP token and claim mining rewards(Sun.io)?
In other to be able to unstake LP token and claim mining rewards you can easily use the procedures below.
While on Tronlink wallet, i visit Sun.io
I clicked on Manage on the USDT-TRX LP and I switched to Claim.
I then clicked on Max and proceed to clicked on the Claim & Unstake.
I enter my password and clicked on Done, then I see Transaction submitted
I then view the transaction on Tronscan to see it is successfully.
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