Crypto Academy Week 15 | Homework post for [@sapwood]..Liquidity Mining (Tron- Sun.io)
INTRODUCTION
Greetings to you my wonderful and lovely ❤️ friends, I'm indeed happy after learning from the lesson on our noble professor @sapwood on the topic: Liquidity Mining (Tron- Sun.io). After learning from our professor I decided to put it into practice because the lesson is very useful and that is the main reason you are about to read through my homework task. Please cheer as you go through every steps.........
Homework Task (Season 2/Week-5)
(1) How do I connect my TronLink Wallet to Sun.io?(Screenshots needed)
To connect Tronlink Wallet to Sun.io using the Tronlink app is just for you to follow the steps below.
Step 1: Open your Tronlink Wallet,an then click on "Discover",where you will see Sun.io among the list of DApp
Step 2: On the search bar, type in Sun.io to visit the Sun.io page.
Step 3: Click on Enter to accept the user agreement and policy to visit the page
Step 4: After visiting the Sun.io page from your Tronlink wallet, it will automatically get connected to your Tronlink wallet as shown from the screenshot below.
Step 5: At the top right hand panel click on the menu as shown from the screenshot below to checked your wallet details.
(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)
Currently there are nine (9), different liquidity mining pools that are available in sun.io which are listed below;
Liquidity Mining Pool | Current APY% |
---|---|
USDT-TRX LP | 4.55% |
USDJ-TRX LP | 6.1% |
TUSD-TRX LP | 19.27% |
SUN-TRX LP | 35.5% |
WBTT-TRX LP | 5.93% |
JST-TRX LP | 5.57% |
BTC-TRX LP | 5.7% |
ETH-TRX LP | 3.87% |
WIN-TRX LP | 7.48% |
Below are the screenshot of the 9 different liquidity mining pool
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Which one offers the highest APY?
SUN-TRX LP is the one which offers the highest APY of 35.5%. Below is the screenshot of SUN-TRX LP APY.
How many different rewards do I get by staking LP token?
The different token rewards I get for staking LP token are five (5) in numbers which are; TRX, JST, WIN, SUN and BTT.
(3) How do I obtain LP Token by adding liquidity in Justswap? What is the quantity(Explore through your wallet/Tronscan)?(Screenshots needed)
To be able to obtain LP Token by adding liquidity in Justswap the following steps are involves using Tronlink wallet. First in my case I first swap 16 TRX for 1.324571 Before going to pool below is how I started from the beginning.
Step 1: I opened my Tronlink wallet and click on "Discover"
Step 2: After I clicked on Discover, a list of DApps was shown to me and I then click on Justswap.
Step 3: On the Justswap page, I switched to pool before I clicked Add liquidity.
Step 4: I choose USDT-TRX to supply 10 TRX
Step 5: I clicked confirm supply.
Step 6: After inputting my password to continue
Step 7: The liquidity became "Liquidity added"
What is the quantity(Explore through your wallet/Tronscan)?(Screenshots needed)
After the liquidity was added suçcessfully, the quantity of LP token obtained on my wallet/Tronscan is 12.9275 678 USDT/TRX.
Supply: 10 TRX + 0.8312 USDT.
Transaction type: TRC20 Transfers.
Bandwidth consumed: 383 Bandwidth.
Energy consumed: 60,902 Energy.
TRX burned to accommodate the Energy: 8.52614 TRX.
- How do I stake LP Token to earn five different tokens on Sun.io? (Screenshots needed)
The steps below are used to stake LP Token to earn five different tokens on sun.io
Step 1: Open Tronlink Wallet and click on "Discover".
Step 2: On the discover page you will see some DApps go to the search bar an input sun.io if you didn't see it among the list of Dapp
Step 3: On the homepage of Sun.io select the liquidity Mining pool in my case I used USDT-TRX LP
Step 4: Click on approved USDT-TRX
Step 5: Input your password and click done.
Step 6: Once approved as shown below
Step 7: Click on Stake and input the amount of the LP token, here I am staking 12.927 USDT-TRX.
Step 8: Enter your password and click on Done you will see Transaction Submitted.
(5) Which reward(out of five different rewards) can be withdrawn at any time? How do claim that (indicate that in the screenshot)?
Out of the five (5) different rewards, 35.5% of Sun reward can be withdran at any given time while the rest of the remaining rewards are the undistributed rewards which 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 click on the Manage button of USDT-TRX that I stake on.
Go 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.
(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 which is shown in he screenshot below.
(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 10 USDT-TRX to earn the.the liquidity mining reward of the five (5) tokens. The staking on Sun.io Consume Energy 89,424, Consume Bandwidth 383 TRX burn to accommodate Energy burn 12.455 Together with the calling in the stake.
Bandwidth and 89,424 Energy consumed Burn TRX (in Sun.io)
As I supply 10 TRX + 1.048 SUN and obtained 64747 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 8.52614.
Bandwidth 383 Energy consumed 60,902 Burn TRX 8.52614 (in Justswap)
Comparison of the Bandwidth/Energy consumed by Sun.io staking and obtaining LP token on JustSwap.io
Resources | Sun.io | Justswap |
---|---|---|
Energy | 89,424 | 60,902 |
Bandwidth | 313 | 383 |
TRX burn | 12.4556 | 8.52614 |
Looking at the table above bandwidth, energy and TRX burned are enough on Sun.io than that of Justswap.
(8) How do I unstake LP token and claim mining rewards(Sun.io)?
To be able to unstake LP token and claim mining rewards is by using the steps below;
Step 1: From my Tronlink wallet, i visit Sun.io
Step 2: I clicked on Manage on the TRX-SUN LP and I switched to Claim.
Step 3: I then clicked on Max and proceed to click on the Claim & Unstake.
Step 4: I enter my password and clicked on Done, before the transaction submitted.
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