Steemit Crypto Academy | Season 2: Week3-- JustLend : Homework Task by @sapwood

Hi friends, In this lecture from @sapwood I learn how to borrow and supply money in the Just lend platform.


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Before I don't try, the first time I learn about it. But I using the TronLink Pro application for staking my TRX earning here. From this, I getting 5 to 6% returns.

Through TronPro we can't possibly lend or borrow here. For those needs we must use JUSTLEND platform.

Through this lecture, I get experience lending and borrowing too. Thanks for making it like a wonderful lecture to us.

Question Number 1:-

What are the different Markets available in JustLend, which market offers the best Supply APY, and which market offers the lowest borrow APY.

At present 9 different Markets Available. They are TRX, USDT, BTC, ETH, SUN, JST, USDJ, WBTT, and WIN

We can see all those Coins Supply and Borrow APY on the main page of the Just lend platform.

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Market Overview In Justlend

Here Suppliers getting good API than Borrowing. It's really good this, In other Decentralized exchanges, we oppositely see this.

WIN COIN Suppliers getting highest APY nearly 17.56% on compared to other Markets.

At the same time Just Coin Borrower getting very low APY around 0.64% only.
It's pretty low, for emergency needs we can grab this opportunity.


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Win Coin Supply APY is High,Just Borrow API Is Less

Question Number 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).

Through Mobile also we do easily. I think all of the steemians now aware of how to access the Tron Link Pro application.

Just go to your Tron Link Pro application. Then in Home Page, we see the Discover Tab, Just click it.


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Tronlink Pro Home Page

Here we see JustLend Dapp, just click it.


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Now it redirect to JustLend platform.Now you need to connect your wallet.

Now I connect my Wallet Successfully.

Here we see in my wallet I holding around 87 TRX.


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Here I Connect My Wallet To Just Lend

Now I supply my Trx in Just lend, to calculate my APY according to my supplied TRX.

Now here I already connect my Tronlink Pro wallet to Just lend.

On the main page, we see, Supply and Borrow for different markets and API.

Here I wish to supply My TRX, So Just click on Supply Tab, Now you get this screen.


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Here I Supply My TRX

Here on entering your wished amount, then click on the supply Tab.

For Example here, I supplying My 20 TRX, so I enter 20, then click the Supply tab.

For this, I get 4.63% APY.

Here we can see my successful submission. But some gas fee needs to pay for these activities, but those are very low fee, so no fear about it.


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My TRX Successfully Submitted

Now I successfully supply my 20 TRX tokens to the Just lend platform from this I get around 4.63% APY.

Question Number 3:-

How do you acquire jTokens, after supplying a particular token, check your TronLink Wallet and indicate how many jokes you have acquired?

For supplying our TRX in just lend platform, that equal amount of jTRX tokens we get in our connected Tronlink Pro wallet Automatically.

Here I provide 20 TRX coins so got around 1999.3 jTRX coins in My wallet.


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I got jTRX in My Wallet

You can see it in my Wallet too.

Question Number 4:-

How do you collateralize jokes 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?

Yes on keeping our TRX(jTRX) coins as collateral we can barrow available coins here.

For this just go Just lend platform.

Just click on accepting our TRX as collateral.


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Tab This And Accept It

After clicking it gives a pop-up notification for accepting our TRX as collateral, Just approve it.

After in few seconds my smart contract executes then the system activates to keep my TRX as collateral.


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Succfully Keep My TRX As Collateral

After finishing this process now you can borrow any coin from the Market.

For Example here, I choosing USDT to borrow on keeping My TRX as collateral.

So now I go to Market, Then click the borrowed tab of USDT. Now I get this screen.


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Here for 20($2.49) TRX, they allow up to $1.506 for Safe Max.

So I borrowed $1 only for safety needs, So I give $1 then click on the Borrow tab.


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I Borrow $1USDT

For this, I need to pay 1.72% as BORROW APY.

After clicking within a second those $1 added to my Tronlink Pro wallet. I get a notification.

We can check those in our wallet too.


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My Borrow USDT added My Wallet

Like that we can borrow any coin which is available in the Just lend Market on keeping our coins as collateral.

Question Number 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)

Here I borrow $1 USDT on keeping 20($2.49) on keeping collateral.

For my $1 USDT, I need to pay less than (>)$0.1 USDT as Interest.

Now I am at Medium risk(53.13%), If it reaches 100%, then I lost my collateral amount permanently.


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My Risk Ratio

Here I supply my 20 TRX coins for 4.63% APY

For this, I borrow $1 USDT for 1.72% APY on utilizing 53% only.

So My Net APY here I earn 4%.


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My Net APY

Like that we can calculate our collateral liquidity status and other needed information very easily.

Question Number 6:-

How do you repay & unlock your asset in JustLend?

After borrowing, we must repay those too. For this, We need to repay our borrowed money first.Then after we need to remove our collateral amount.

For this just go your borrowed coins, On the tab on it, you get like this window. Just Approve it.


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I repay Borrowing USDT

Now I successfully repay my borrowed amount.

Like that, we can borrow at the same time supply our assets here very easily in the Just lend platform.

Hope I finish all my Task correctly. If any mistakes I make pls verify me.

Thanks For Reading My Post

Sort:  

I did the task on Google Chrome, now I see how to so it by phone. Thanks, Lavanya.

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