Crypto Academy Week 11 - Homework Post for @sapwood by @kelechisamuel

It was a great lecture by @sapwood but I must really confess it was a very difficult task, took me a lot of time with plenty of challenges but the experience was worth it in the end, so I will be dropping my homework post below

Question 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)

Currently I can see 9 different markets in just lend, scanning through the 9 different markets at the moment , it is visible from my screenshot that SUN has the highest supply APY percentage of 16.84% and USDTJ (just stableco) has the lowest borrow APY percentage of 0.75%
You can see all details from the screenshot below

Where the red arrow shows the best apy and the blue arrow shows the Lowest borrow apt

Question 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)

First you login to their website www.justlend.com , you would see a connect wallet button at the top left corner, click on it,

download the tron link wallet and you are almost set, install the wallet on your desktop or phone, then you either go back to the website to supply or you could supply from the Tron link wallet on your phone which I will be using for this assignment

After connecting, installing and downloading the Tron link wallet, go to justlend and make a supply

So I decided to make a supply of 20TRX , a pop up Showing my wallet balance and the APY percentage was displayed

I did my signings and sent the supply, a waiting confirmation dialogue was displayed, which didn't take long as Tron wallet is really fast

That was how I made a supply of 20TRX and received a token

Question 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)

As soon as I supplied a token a new asset was added to my list of assets which is known as jTRX

So from my supply of 20TRX I have almost 2000jTRX tokens

Question 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?

Ok something unique happened as I attempted this process couldn't understand it at first so I had to go on a little research

First of all inorder to collateralize your jtoken, click on the button to switch it on

A pop up will appear requesting that you use your tron as collateral click on it

Then you would receive a transaction waiting confirmation pop up

Remember I told you all something unique happened now this is it

Because the balance of Tron in my account was minimum, my account ran out of energy

Bandwidth and energy

As my account ran out of energy, I went into research and discovered that the Tron system uses bandwidth and energy as fuel to run the transactions

Each day Tron releases 5000 bandwidth daily but just in case your transactions for the day surpasses, you can always freeze your Tron to get more bandwidth or energy

Tron also uses resources to run smart contract transactions each unit of this resources are called energies

At least you can understand why my first transaction didn't scale through

I bought another 93.2 Tron worth about 11usdt in conversion

After buying the asset, I repeated the procedure and my collateral was accepted

I borrowed 1 usdt and u can see it from the screenshot below

Question 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)

After taking the loan, I am currently running at an net APY of 3.82 which is positive because I have taken a loan but I am still earning interest and I have a risk level of 55.55 which is rated as a medium risk level

The asset will liquidate if it reaches a risk value of 100%

For such a low amount of $1 USDT, the interest is very minute and almost not noticeable, although Interest rate is accumulated every 3 seconds in JustLend

Question 6

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

Repaying of assets is really easy all I have to do is click on the borrow section, click on USDT and click on repay, Click on max to ensure I pay all that is due and go through the confirmation process and it's done

Conclusion

In conclusion, I must confess that this task wasn't easy at all, I lost coins, it consumed time but in the end, it was worth it
I commend @sapwood for this lecture, God bless us all

Cc
@steemcurator01
@steemcurator02
@sapwood