Crypto Academy Homework for @sapwood - JustLend // written by @kadosh2340

in SteemitCryptoAcademy3 years ago (edited)

Good day crypto lovers & friends ! It's another weeks contest and we are ever grateful @cryptoacademy community and @steemitblog for their awesome hosts in order to earn and learn from Cryptocurrency, with the help of Educative Professor's like @sapwood. He's lectures was great and I will answer the assignments given to prove my learning abilities from his class :

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.

• There are nine different markets available on the JustLend which are BTC, TRX, USDT, Eth, SUN, JUST, USDJ, WBTT and WIN. The best market supply APY is SUN tokens (16.96%) or WIN tokens (16.63%) . The lowest borrow APY is USDJ with (0.78%) Just a stablecoin.
Screenshot_20210428_042127.jpg

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)

• This is very easy and educative to know. It's just making sure you have your Tronlink installed then ready your wallet (of cause as a steemit user, you should have earned Tron as a reward). Once you've have all the aforementioned ready then visit the Justlend website here

Screenshot_20210428_044632.jpgI'm a supplier of TRX tokens. Therefore I'll click the supply button which will interconnect with my TronLink wallet to view my available balance.

Screenshot_20210428_045727.jpgI had to use 30 TRX tokens because I don't have much Tron token. Next, I'll click the supply button then will have to accept the contract which will be confirmed within seconds because of the speed of the Tron blockchain
Screenshot_20210428_052849.jpgTransaction Complete
I went back to my JustLend interface to check my transactions and it reflected.
Screenshot_20210428_053052.jpg

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

I acquired jTRX tokens when I supplied to a token that was listed in the Justlend which was Usdj.

Honestly this contract is reliable and very fast. It didn't take me much time to learn nor even carry out my transactions. To see your balance, you'll need to close and reopen your Tron wallet again.
Screenshot_20210428_054710.jpgYou can see that I've about 3,000jTokens

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'll quickly go back to JustLend main page and I choose to borrow USDJ tokens. What I've to do is to click the Borrow button and I decide to borrow the Safe Max.
Screenshot_20210428_055901.jpg
Screenshot_20210428_060846.jpgI don't have enough collateral that's why I wasn't able to borrow even after clicking on safe max fro the best amount tho I know how to borrow and I could check my interest, my APY ..I could check all those stuffs very well.

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)

Well, since I wasn't able to borrow because of insufficient collateral (tho I know how to borrow and still check my liquidation), I can't provide a screenshot about this but my net APY is 4.56%
Screenshot_20210428_061301.jpg
Honestly this is so interesting amongst other assignments I've ever done in cryptoacademy. Because I really learnt alot, it even helped me to retrieve my lost Tronlink wallet Account.

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

• In as much as I did not borrow, I could still show you the steps on how to pay back your loan. I'll have to click
My Borrow
Screenshot_20210428_062051.jpg
• Select my USDJ loan and pay all you loaned but obviously I don't have any loan cause of low funds
Screenshot_20210428_062058.jpg

Conclusion
Honestly following the lectures Professor @sapwood educated to us here. And I indeed gained experience as he promised we would after obeying instructions. We will actually find this tasks very easy.

Thank you sir @sapwood for the task given

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Wow,detailed,joining crypto academy asap

Next, I'll click the supply button then will have to accept the contract which will be confirmed within seconds because of the speed of the Tron blockchain.

Yes TRON Network speed is reslly amazing. With in fraction of seconds our contract get executed.

Nice presentation from you. Take care.

Nice post i'm going to join crypto acedemy soon

Hello @febby001
This is not a good way to Comment on a post. It's best you don't Comment rather than dropping a short and meaningless comment.

I would rather encourage you to meet your mentor for proper guidance as to know how to comment on a content.

Best Regards

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