JustSwap A Decentralized Finance Exchange - Crypto Academy / S4W5 - Homework Post for [@kouba01]

Hello everyone I hope you will be fine and enjoying good health the grace of Almighty Allah is most merciful and gracious to everyone. Today I am here to present my assignment given by professor @kouba01 about the Justswap, it is really an amazing lecture full of information, and if you want to take part in this lecture and want to add more knowledge to your mind then don't wait and come forward.

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Join Class:- Crypto Academy Season 4 [ Advanced course ] week 5: JustSwap

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_{Image Made by me by} ^Canva

1. Present the Just Swap platform in your own way, demonstrating its importance within the Tron ecosystem blockchain.

Justswap is a decentralized exchange and automated liquidity provider that was built on the basis of the Tron Blockchain. It was exclusively designed to transfer TRC-20 tokens. It is the fastest way to transfer TRC-20 tokens in the decentralized exchange.

Justswap was basically introduced by the Just Network and this foundation is committed to developing Tron-based DeFi protocols. JustSwap has been developed on the basis of the Constant Function (x)(y)=k just like other Ethereume based Decentralized exchanges such as Uniswap and Mooniswap. A constant function is a function that determines the price of the assets according to the available liquidity of tokens in the pool.

And the most important thing and feature of the JustSwap is that all the fees obtain from the transactions directly go to the liquidity providers as well as to the protocol itself.

Importance within the Tron ecosystem

Tron Blockchain is the Chinese Blockchain and everyone knows that china always wants to become independent and they want to run every system of their own. So they want to diversify their own blockchain so in order to provide more things to the users they have introduced Justswap and it has a lot of potentials to diversify Tron Blockchain.

Justswap is a permissionless decentralized platform that gives complete rights to the users as well as to the developers. It has unlimited liquidity along with the lowest transaction fees. The investors or liquidity providers do not have any need to pay commission to the protocol so they can make more profit by using Justswap.

Justswap is really very important for the Tron blockchain as all the TRC-20 tokens are available here and they can be transacted at the lowest fees that are just 0.3% with the highest transaction fees. People can easily buy and sell their TRC-20 tokens by using the justswap that is on the whole development and embarkment of the Tron blockchain.

Before the launch of the Tron blockchain was incomplete as people were facing different problems of high transaction fees and others. And Tron was not growing in the field of decentralized finance, but after the development and introduction of the justswap Tron emerged as a hero with the new zeal and zest, and then it expanded its working and DeFi services with the introduction of some new protocols such as Pearl.finance. In all these protocols we can deposit our assets and then become a liquidity provider and can earn rewards from the pool.

2. What tokens does JustSwap support trading? How is the price of a JustSwap token determined (how it works)? Use an illustration to explain it. (screenshot required)

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Justswap is a Tron blockchain-based decentralized finance exchange and the main focus of the Tron blockchain is on the TRC-20 tokens. Just Swap supports all the TRC-20 tokens as well as TRX. So if you want to do trading of the TRC-20 token then you can simply use the world's biggest TRC-20 exchange that is justswap with the fastest transaction speed and lowest transaction fees.

_{Image Reference goes to} ^JustSwap

Here I have captured some of the listed tokens which are the TRC-20 tokens and Justswap is currently supporting these and some other tokens for trading. And these other tokens include WBTC, ETH, WETH, WBTT, WTRX, JST, WIN, DICE, USDT, USDJ, TUSD, LTC, HT this is the justswap Default Token List.

Price Determination

The price of the tokens in the justswap is determined by the Constant Function as I have mentioned that earlier. It is just like as it is determined in other decentralized finance exchanges such as Uniswap and Mooniswap.

Price Determination Formula = (X)(Y)=K

Here:

• X= Token 1
• Y= Token 2
• K= Constant value

Price is determined by the number of tokens present in the pool. This is all controlled and maintained by the smart contracts using constant function. When the tokens are swapped then these are swapped by replacing one token with another accordingly. And the product of both swapped tokens always remains constant but the liquidity and the prices of the swapped tokens are changed with each other. Hence the prices are changed accordingly.

Explanation with a general example:

Let's suppose there are two tokens; i.e X, and Y and we want to swap these tokens with each other. As we know that K (the product of X and Y) remains constant. So only the values of the X and Y increase or decrease. There are two cases which are given below:

• When the value of the X increases then it is obvious to keep the K constant the value of the Y will decrease alternatively.

• Similarly, when the value of the Y increases then the value of the X increases alternatively to keep the K at a fixed and constant value.

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Daily Life Example:

Suppose we have two types of fruits i.e, Mangoes and Apples and their weight product is 10Kg and it is a constant quantity. Now if someone takes 2Kg mangoes then in order to keep the constant value the same we will increase the quantity of the Apples by 2kg. And similarly, if we withdraw 4 kg apples then in order to keep the constant value the same we will increase the quantity of the mangoes by 4kg.

In this way both the values of the assets will change themselves automatically according to the situation and to keep their product as a constant.

3. How do I connect my wallet to JustSwap.io? Is there a mobile app? (Screenshots needed)

Justswap is simple to use and we can easily connect our wallet with the justswap and can perform our transactions, do trading, provide liquidity and swap our tokens.

As it is a Tron-Blockchain-based DeFi exchange so it supports only TronLink Wallet, so you do not have any need to create another account for the Justswap you can just use your TronLink Wallet and can perform your transactions.

• Just Log In to your TronLink Wallet
• Then go to JustSwap, there you will see a Connect To Wallet button on the left upper side of the website as shown below:

• Then you will see an interface like this as shown below, and you can see that it only supports its own foundation wallet.

• Here select TronLink wallet and then connect it. But if you do not have installed TronLink Wallet Extention then you can install it from the extension store or simply clicking on the link given at the lower side of the Popup.

• After clicking there initializing just like as shown will start.

• Here you have to sign this transaction and you have to allow access justwap to your wallet.

• Now our TronLink wallet has been connected to the just swap as now you can see that my wallet address is showing there at the place of the connect wallet.

Step1	Step2	Step3	Step4	Step5

Steps involved to connect JustSwap to your wallet

Mobile Application

_{TronLink Pro - Android Application} ^{Google Playstore}

TronLink Pro mobile app is also available on the Playstore as well as on the App Store, and we can use TronLink mobile app to access JustSwap but if we open JustSwap in any other mobile browser then we will not be able to access it. We can use TronLink App and all the procedure in the app is also same as in the web browser using the extension.

TronLink Pro Mobile Application

Here you can see that first of all we have to install the TronLink App then after adding our account in that we have to Click Discover then we will see there an option of JustSwap and click on it.

TronLink Pro Mobile Application

Here you can see that my wallet has been connected to the Justswap via the mobile application. So we can use JustSwap on the mobile app.

TronLink Pro Mobile Application

Here is the main page of the Justswap which I have opened in that mobile application. So it is clear that Justswap does not have any direct application for the mobile but it can be used by the TronLink Application.

4. Include a real example of your interaction with Just Swap, demonstrate how you can trade on the platform. (screenshots required)

Trading or swapping on the JustSwap is very simple and easy to perform. You just have to connect JusSwap with your TronLink wallet and then you can trade. All the steps have been explained already to connect justswap with the wallet and now I will tell you how to trade with a live example.

Here you can see the whole trading interface how it is looking right now. Firstly you have to select a pair of trading then you can proceed with it next. In the first section of From select a currency which you want to exchange and then in the lower section of To represented by the arrow is for that to which you want to exchange your selected cryptocurrency.

YOu can see that I have put 20 TRX and I want to exchange them with the USDT so I have selected accordingly. And in the justswap there is no Order Book and the price is adjusted automatically and 0.03% of the trade is taken as the transaction fees as you can see that for this transaction I have to pay 0.06 TRX as a transaction fees.

_{Image Reference goes to} ^JustSwap

Here you can see that a confirmation PoUp has been occurred and asking for the confirmation. Here we can see that 1USDT=10.9TRX and so on 1TRX = 0.091 USDT and now click on the Confirm Swap and you will then see a PopUp window from the wallet as shown below:

_{Image Reference goes to} ^JustSwap
Here I have to confirm this transaction and then it will be performed, but here I want to mention something that you can see that in this popup you are seeing 6.76 TRX fees, this is not the fees deducted by the JustSwap it is the Resources Fees as I have insufficient resources (Bandwith/Energy)

_{Image Reference goes to} ^JustSwap
Here you can see the infoprmation of this fees which is due to the insufficient resources.

_{Image Reference goes to} ^JustSwap

So finally the trade has been done of the 20TRX and I have gotten 1.83 USDT for this trade. So in this way you can simply trade on the justswap just by using your TrinLink Wallet.

Step1	Step2	Step3	Step4

All the steps involved in Trading via JustSwap

So by following these simple steps you can trade on justswap. The trading is fastest with the lowest fees and as there is no order book so the price is adjusted automatically.

5. Include a real example of your interaction with Just Swap, explain How to add liquidity to JustSwap. (screenshot required)

As justswap is a defi platform and we can add liquidity here and can share our part of the reward from the pool.

So here is a complete method to add liquidity to JustSwap.

First of all, we have to switch the main page with the pool then we have to click on the Add Liquidity after that you will see a list of tokens.

_{Image Reference goes to} ^JustSwap

Now you have to select two tokens that you want to use to provide liquidity. This thing must be noted that out of those two tokens one must be TRX. So after selecting the pair now click on the Supply Button.

Now when we choose a trading pair and then we add a quantity of the token then the system calculates the amount of the other tokens according to the price of the pair in the pool.

_{Image Reference goes to} ^JustSwap

After that simply click on the Supply button then you will see a pop-up window for the confirmation of the transaction, so now we have to click on the Confirm Supply button.

_{Image Reference goes to} ^{JustSwap & TronLink}

After this, a signing notification will be sent to our wallet then we have to see this transaction and have confirmed that one. So now the liquidity has been added successfully.

_{Image Reference goes to} ^JustSwap

_{Image Reference goes to} ^JustSwap

Here you can see that Liquidity has been added to the TRX and USDT and we can see our share in the pool. I have added 5 TRX and my reward in the pool is 6.75 TRX from the pool.

Step1	Step2	Step3	Step4	Step5

In this way we can add liquidity to the JustSwap

Conclusion

JustSwap is Tron based on decentralized finance exchange that is used to trade TRC-20 as well as TRX tokens.

In the JustSwap there is no use of the order book and all the calculations of the trades are calculated automatically. So it is easy and simple to use.

And the most important and beneficial thing of the JustSwap is that it requires no any verification or any external account for the trading and to add liquidity. We can just use Tronlink wallet for the transactions. And it also has its app which also works the same.

We can simply provide liquidity in the JustSwap, but for this purpose, we have to select two tokens but one of them must be TRX and then after adding liquidity we will be able to receive our reward. Whenever any trade is done on our liquidity tokens then we receive 0.3% of the trade as a reward.

So in this way, we can get benefit from the JustSwap a decentralized finance Tron blockchain-based exchange.

Cc:- @kouba01, @yohan2on