Steemit Crypto Academy | Season 2 Week 3 Homework Post for @sapwood - JustLend

Hello everyone. Our world has been fighting a big epidemic for more than a year. I hope all of you are in good health. Stay safe! Thanks for reading.

Today I will share with you the my homework given by the professor @sapwood.

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

There are 9 different markets in JustLend. SUN has the highest Supply APY(%16.10) and USDJ has the lowest Borrow APY(0.73). Currently WIN Supply APY(%16.09) is very close to SUN.

2-) How do you connect TronLink Wallet to JustLend?

First I'll show you how to connect Tron wallet to JustLend step by step. But first, install the Tron Wallet extension on chrome.

STEP 1

STEP 2

STEP 3

After the necessary approvals are given, our Tron wallet has been successfully connected.

How do you supply a token(e.g. TRX, SUN, JST, etc) to earn Supply APY?

At first I wanted to supply TRX, but my transaction failed. The reason for this was insufficient energy. So first I'll show you how to fill energy.

https://tronscan.io/#/wallet => First go to this address and enter your tron wallet address.

Then click "obtain" where I marked in the screenshot.

Choose "TRON power and Energy" from the Obtain section. Enter the TRX amount from the "Amount (TRX)" section.(Think of it like the POWER UP we did on the steemit. Your TRXs will not be lost.) Confirm and click "Freeze"

Click "Accept" to confirm

We have successfully filled energy.

We tied our TRON wallet and filled up enough energy. Now I'll show you step by step how to do TRX supply.

STEP 1

Click "Supply"

STEP 2

In the window that opens, enter the amount and click "Supply".

STEP 3

Click "Accept" to confirm

STEP 4

Wait for the transaction to be confirmed. It is approved in a very short time.

STEP 5

The transaction has been successfully confirmed.

3-) How do you acquire jTokens, after supplying a particular token, check your TronLink Wallet and indicate how much jTokens you have acquired?

After the supply is made, jtokens is automatically reflected in your account as a receipt. Let's give an example with a ratio of 1 TRX = 100 jTRX.
You have supplied 500 TRX.
500 x 100 = 50000
50000 jTRX will be reflected to your account as a receipt.

I have supplied 140 TRX and the amount of jTRX in my assets is:

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?

Make sure you have enough TRX in your account as there will be a transaction fee while doing this.

STEP 1

STEP 2

STEP 3

STEP 4

STEP 5

STEP 6

STEP 7

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?

In the beginning, I supplied 140 TRX with 4.75% Supply APY. I used a %79.99(10.08USDT) borrow limit by collateralizing my jTRX. My borrow apy %1.81 and net APY %3.49.

The risk level 80. Since I use the majority of borrow limit, my risk level is very high. If the risk level reaches 100, it will have very bad consequences. So if it goes up to 100, it will be liquidated. It is best to keep it between the 35-60 medium risk levels in the table shared by the professor sapwood.

6-) How do you repay & unlock your asset in JustLend?

STEP 1

Click on the place I marked in red in the screenshot.

STEP 2

Type the amount and click "repay". Done!

Conclusion

I learned about this DeFi project thanks to this homework. Good profits can be made by participating in these fund pools. But it is necessary to pay attention to the risk level in order not to liquidate. I had some trouble with energy and transaction fees. I sent some sbd from steemit to bittrex and converted to TRX. I managed to fix the problems this way.

Thanks.

CC: @sapwood