HomeWorkPost-- SteemitCryptoAcademy S4W5 - JustSwap- Dex on Tron [@kouba01]
Q1. Present the Just Swap platform in your own way, demonstrating its importance within the Tron ecosystem blockchain.
JustSwap is a decentralized exchange powered by Tron Blockchain. It is similar to any other Decentralized Exchanges like Uniswap, SushiSwap, BakerySwap, PanCakeSwap, etc. It allows Tron users to Trade TRC20 tokens directly on the native platform rather than going on third-party platforms like Centralized Exchanges.
.png)
JustSwap also facilitates Long term investors or Mid Term investors to get some return on their Holding and it is a great thing for any Investor that he is earning some interest. They can easily provide Liquidity on the exchange and can earn 0.3% gain on every transaction and the amount will be decided from what % of Pool you have staked.
For example, if the Pool Size is $1000 and you have provided a Liquidity of $100, if 0.3% will be the reward then you will earn as follow-
Total Pool earning= (0.3 * 1000)/100= 3
Since you have contributed 10% in the pool so your earning would be 10% of the total reward that it $0.3.
Importance of JustSwap in Tron Blockchain-
Increase Engagement: It inspires more and more users to trade on the Justswap platform and also provides liquidity on the platform to get some passive gain. It increases the development contribution too.
Capital Gain: Holders can make money while holding the TRC20 token and it is like giving Loyalty to the valuable Users on the platform who trusted on Tron Ecosystem.
Trust on Blockchain & Privacy: Whenever we are trading on Justswap then we are not leaving money on anyone else we are the owner of our own tokens and every trade will be through Smart Contracts.
Easy, Fast & Low Fee: JustSwap is very easy to use, fast and it takes less fee which is a good thing.
Listed Coins: On Justswap We can trade all the TRC20 tokens at a single place which makes easier for users to not rush for different platforms to trade TRC20 asset.
Q2. What tokens does JustSwap support trading? How is the price of a JustSwap token determined (how it works)? Use an illustration to explain it.
As per CoinGecko, there is a total of 40+ Pair available on JustSwap and some of them has no liquidity however here is the by default List provided by Just swap. You might be wonder what other pairs are doing like BTC, ETH, HT so Justswap supports few Cross-chain coins as well.
There is a feature where you can request for your own token listing as well.
How is the price of a JustSwap token determined
Decentralized exchanges don't support the Order book Methods for trading like Centralized exchanges where you will Buyer/Seller used to offer their prices and if it matches then the trade gets completed. In Dex the price is decided by the demand and Supply mechanism in the Pool and here is the formula to calculate-
X * Y = K
Where,
x= First Token
y= Second Token
k= Constant
K is the total value available in the Liquidity Pool. So the availability of tokens/value in the Pool will decide the price however you can get the quotation of what would be the Minimum that you will be getting in Exchange.
In the above example, you can see that I am Exchanging 26 TRx with respect to 87.38 SUN tokens however this may change as per the demand this is why you can ensure that what would be the minimum amount you will be getting at the bottom.
Q3. How do I connect my wallet to JustSwap.io? Is there a mobile app?
In order to connect Justswap with the wallet, Frist we need to Download the Chrome extension in the browser and Login using our Private Key, Mnemonics Phrase, Hardware wallet, or if we don't have an account then we can create one it is super easy. After creating the account and setting up a local password for the wallet we are ready to log in on Justswap with TronLink wallet.
a) Click here- https://justswap.io/#/home
b) Click on the "Connect to Wallet" option
c) A Pop-up menu will open and now needs to click on "Tron Link Wallet"
d)Another Pop-up menu will open from the TronLInk extension and we need to click on the "Connect Button" to give permission to JustSwap to access your wallet details.
Once you are able to see your Holdings like I have 102 Trx wallet and your wallet address that means you are successfully connected with JustSwap.
Is there a mobile app?
Yes, there is a TronLink Pro Wallet available on the Playstore and it has a Swap feature as well that allows users to Trade within the App on Justswap. It has Justswap integration and makes things very easy to use.
Q1. Present the Just Swap platform in your own way, demonstrating its importance within the Tron ecosystem blockchain.
JustSwap is a decentralized exchange powered by Tron Blockchain. It is similar to any other Decentralized Exchanges like Uniswap, SushiSwap, BakerySwap, PanCakeSwap, etc. It allows Tron users to Trade TRC20 tokens directly on the native platform rather than going on third-party platforms like Centralized Exchanges.
JustSwap also facilitates Long term investors or Mid Term investors to get some return on their Holding and it is a great thing for any Investor that he is earning some interest. They can easily provide Liquidity on the exchange and can earn 0.3% gain on every transaction and the amount will be decided from what % of Pool you have staked.
For example, if the Pool Size is $1000 and you have provided a Liquidity of $100, if 0.3% will be the reward then you will earn as follow-
Total Pool earning= (0.3 * 1000)/100= 3
Since you have contributed 10% in the pool so your earning would be 10% of the total reward that it $0.3.
Importance of JustSwap in Tron Blockchain-
Increase Engagement: It inspires more and more users to trade on the Justswap platform and also provides liquidity on the platform to get some passive gain. It increases the development contribution too.
Capital Gain: Holders can make money while holding the TRC20 token and it is like giving Loyalty to the valuable Users on the platform who trusted on Tron Ecosystem.
Trust on Blockchain & Privacy: Whenever we are trading on Justswap then we are not leaving money on anyone else we are the owner of our own tokens and every trade will be through Smart Contracts.
Easy, Fast & Low Fee: JustSwap is very easy to use, fast and it takes less fee which is a good thing.
Listed Coins: On Justswap We can trade all the TRC20 tokens at a single place which makes easier for users to not rush for different platforms to trade TRC20 asset.
Q2. What tokens does JustSwap support trading? How is the price of a JustSwap token determined (how it works)? Use an illustration to explain it.
As per CoinGecko, there is a total of 40+ Pair available on JustSwap and some of them has no liquidity however here is the by default List provided by Just swap. You might be wonder what other pairs are doing like BTC, ETH, HT so Justswap supports few Cross-chain coins as well.
There is a feature where you can request for your own token listing as well.
How is the price of a JustSwap token determined
Decentralized exchanges don't support the Order book Methods for trading like Centralized exchanges where you will Buyer/Seller used to offer their prices and if it matches then the trade gets completed. In Dex the price is decided by the demand and Supply mechanism in the Pool and here is the formula to calculate-
X * Y = K
Where,
x= First Token
y= Second Token
k= Constant
K is the total value available in the Liquidity Pool. So the availability of tokens/value in the Pool will decide the price however you can get the quotation of what would be the Minimum that you will be getting in Exchange.
In the above example, you can see that I am Exchanging 26 TRx with respect to 87.38 SUN tokens however this may change as per the demand this is why you can ensure that what would be the minimum amount you will be getting at the bottom.
Q1. Present the Just Swap platform in your own way, demonstrating its importance within the Tron ecosystem blockchain.
JustSwap is a decentralized exchange powered by Tron Blockchain. It is similar to any other Decentralized Exchanges like Uniswap, SushiSwap, BakerySwap, PanCakeSwap, etc. It allows Tron users to Trade TRC20 tokens directly on the native platform rather than going on third-party platforms like Centralized Exchanges.
JustSwap also facilitates Long term investors or Mid Term investors to get some return on their Holding and it is a great thing for any Investor that he is earning some interest. They can easily provide Liquidity on the exchange and can earn 0.3% gain on every transaction and the amount will be decided from what % of Pool you have staked.
For example, if the Pool Size is $1000 and you have provided a Liquidity of $100, if 0.3% will be the reward then you will earn as follow-
Total Pool earning= (0.3 * 1000)/100= 3
Since you have contributed 10% in the pool so your earning would be 10% of the total reward that it $0.3.
Importance of JustSwap in Tron Blockchain-
Increase Engagement: It inspires more and more users to trade on the Justswap platform and also provides liquidity on the platform to get some passive gain. It increases the development contribution too.
Capital Gain: Holders can make money while holding the TRC20 token and it is like giving Loyalty to the valuable Users on the platform who trusted on Tron Ecosystem.
Trust on Blockchain & Privacy: Whenever we are trading on Justswap then we are not leaving money on anyone else we are the owner of our own tokens and every trade will be through Smart Contracts.
Easy, Fast & Low Fee: JustSwap is very easy to use, fast and it takes less fee which is a good thing.
Listed Coins: On Justswap We can trade all the TRC20 tokens at a single place which makes easier for users to not rush for different platforms to trade TRC20 asset.
Q2. What tokens does JustSwap support trading? How is the price of a JustSwap token determined (how it works)? Use an illustration to explain it.
As per CoinGecko, there is a total of 40+ Pair available on JustSwap and some of them has no liquidity however here is the by default List provided by Just swap. You might be wonder what other pairs are doing like BTC, ETH, HT so Justswap supports few Cross-chain coins as well.
There is a feature where you can request for your own token listing as well.
How is the price of a JustSwap token determined
Decentralized exchanges don't support the Order book Methods for trading like Centralized exchanges where you will Buyer/Seller used to offer their prices and if it matches then the trade gets completed. In Dex the price is decided by the demand and Supply mechanism in the Pool and here is the formula to calculate-
X * Y = K
Where,
x= First Token
y= Second Token
k= Constant
K is the total value available in the Liquidity Pool. So the availability of tokens/value in the Pool will decide the price however you can get the quotation of what would be the Minimum that you will be getting in Exchange.
In the above example, you can see that I am Exchanging 26 TRx with respect to 87.38 SUN tokens however this may change as per the demand this is why you can ensure that what would be the minimum amount you will be getting at the bottom.
Q3. How do I connect my wallet to JustSwap.io? Is there a mobile app?
In order to connect Justswap with the wallet, Frist we need to Download the Chrome extension in the browser and Login using our Private Key, Mnemonics Phrase, Hardware wallet, or if we don't have an account then we can create one it is super easy. After creating the account and setting up a local password for the wallet we are ready to log in on Justswap with TronLink wallet.
a) Click here- https://justswap.io/#/home
b) Click on the "Connect to Wallet" option
c) A Pop-up menu will open and now needs to click on "Tron Link Wallet"
d)Another Pop-up menu will open from the TronLInk extension and we need to click on the "Connect Button" to give permission to JustSwap to access your wallet details.
Once you are able to see your Holdings like I have 102 Trx wallet and your wallet address that means you are successfully connected with JustSwap.
Is there a mobile app?
Yes, there is a TronLink Pro Wallet available on the Playstore and it has a Swap feature as well that allows users to Trade within the App on Justswap. It has Justswap integration and makes things very easy to use.
Q4. Include a real example of your interaction with Just Swap, demonstrate how you can trade on the platform.
To demonstrate the real transaction, We need to follow below Steps-
a) In the upper box we need to Enter the Token that we want to swap with another one. Here I am going to Swap Trx with Sun Tokens. In the second box, you can see how many SUN tokens I am gonna get. Click on "Swap" in order to proceed.
c) Click on "Confirm Swap" to proceed further.
d) Now we need to sign the Smart Contract to complete the trade.
Q5. Include a real example of your interaction with Just Swap, explain How to add liquidity to JustSwap.
Adding liquidity on Justswap is very easy, we need to give liquidity for 2 tokens at the same in equal amount for example if you want to give Liquidity of worth of $100 TRx then you also need to give Liqduity for one more TRC20 tokens worth of $100. In order to provide liquidity in the pool, we can follow these simple steps-
In my case, I have 40 TRX tokens so with respect to this, I need to provide liquidity for SUN (Any TRC20 token) token as well worth of 40 TRX that will be 133 SUN tokens.
a) Click on "Option" then enter the amount of Tron and other TRC20 you want to stake. Initially, I tried with 45 trx but since it requires approval and transaction fee so it did not complete. I tried with 25 TRX and
b) Click on the Approve button as it ensures that you are doing this by mistake.
c) After the approval you are ready to supply this into the Pool and earn rewards. Click on Confirm Supply button.
d) This is the last step where we need to sign a contract to participate in the Pool. Initially, I was trying with 45 TRX to stake but due to lack of transaction fee it failed, so I tried with 25 TRx.
e) You have successfully added the Liquidity in the Pool and you can cross verify by click on Pool Button.
Also, you can remove this liquidity wherever you want and this is really a great thing about Dex that allows Long term investors to earn some money while holding the coin.
Conclusion
DEX centralized exchanges are really good and since we may see so many manipulations, theft attacks on the Centralized Exchanges. Also on the Centralized Exchanges, we are depositing the amount on the exchanges and what if they go, there was a very famous Exchange in India named "Zebpay" they gone and made traders rekt. On the JustSwap everything will be through Smart contracts and it will be a much safer way to trade. They are few challenges as well that needs to be overcome like Cross-chain support, Customer Support, Low Liquidity and Scam projects, etc. I believe the future is of DEX and I JustSwap is one of the Top projects over Tron Blockchain.
Q3. How do I connect my wallet to JustSwap.io? Is there a mobile app?
In order to connect Justswap with the wallet, Frist we need to Download the Chrome extension in the browser and Login using our Private Key, Mnemonics Phrase, Hardware wallet, or if we don't have an account then we can create one it is super easy. After creating the account and setting up a local password for the wallet we are ready to log in on Justswap with TronLink wallet.
a) Click here- https://justswap.io/#/home
b) Click on the "Connect to Wallet" option
c) A Pop-up menu will open and now needs to click on "Tron Link Wallet"
d)Another Pop-up menu will open from the TronLInk extension and we need to click on the "Connect Button" to give permission to JustSwap to access your wallet details.
Once you are able to see your Holdings like I have 102 Trx wallet and your wallet address that means you are successfully connected with JustSwap.
Is there a mobile app?
Yes, there is a TronLink Pro Wallet available on the Playstore and it has a Swap feature as well that allows users to Trade within the App on Justswap. It has Justswap integration and makes things very easy to use.
Q4. Include a real example of your interaction with Just Swap, demonstrate how you can trade on the platform.
To demonstrate the real transaction, We need to follow below Steps-
a) In the upper box we need to Enter the Token that we want to swap with another one. Here I am going to Swap Trx with Sun Tokens. In the second box, you can see how many SUN tokens I am gonna get. Click on "Swap" in order to proceed.
c) Click on "Confirm Swap" to proceed further.
d) Now we need to sign the Smart Contract to complete the trade.
Q5. Include a real example of your interaction with Just Swap, explain How to add liquidity to JustSwap.
Adding liquidity on Justswap is very easy, we need to give liquidity for 2 tokens at the same in equal amount for example if you want to give Liquidity of worth of $100 TRx then you also need to give Liqduity for one more TRC20 tokens worth of $100. In order to provide liquidity in the pool, we can follow these simple steps-
In my case, I have 40 TRX tokens so with respect to this, I need to provide liquidity for SUN (Any TRC20 token) token as well worth of 40 TRX that will be 133 SUN tokens.
a) Click on "Option" then enter the amount of Tron and other TRC20 you want to stake. Initially, I tried with 45 trx but since it requires approval and transaction fee so it did not complete. I tried with 25 TRX and
b) Click on the Approve button as it ensures that you are doing this by mistake.
c) After the approval you are ready to supply this into the Pool and earn rewards. Click on Confirm Supply button.
d) This is the last step where we need to sign a contract to participate in the Pool. Initially, I was trying with 45 TRX to stake but due to lack of transaction fee it failed, so I tried with 25 TRx.
e) You have successfully added the Liquidity in the Pool and you can cross verify by click on Pool Button.
Also, you can remove this liquidity wherever you want and this is really a great thing about Dex that allows Long term investors to earn some money while holding the coin.
Conclusion
DEX centralized exchanges are really good and since we may see so many manipulations, theft attacks on the Centralized Exchanges. Also on the Centralized Exchanges, we are depositing the amount on the exchanges and what if they go, there was a very famous Exchange in India named "Zebpay" they gone and made traders rekt. On the JustSwap everything will be through Smart contracts and it will be a much safer way to trade. They are few challenges as well that needs to be overcome like Cross-chain support, Customer Support, Low Liquidity and Scam projects, etc. I believe the future is of DEX and I JustSwap is one of the Top projects over Tron Blockchain.
Q4. Include a real example of your interaction with Just Swap, demonstrate how you can trade on the platform.
To demonstrate the real transaction, We need to follow below Steps-
a) In the upper box we need to Enter the Token that we want to swap with another one. Here I am going to Swap Trx with Sun Tokens. In the second box, you can see how many SUN tokens I am gonna get. Click on "Swap" in order to proceed.
c) Click on "Confirm Swap" to proceed further.
d) Now we need to sign the Smart Contract to complete the trade.
Q5. Include a real example of your interaction with Just Swap, explain How to add liquidity to JustSwap.
Adding liquidity on Justswap is very easy, we need to give liquidity for 2 tokens at the same in equal amount for example if you want to give Liquidity of worth of $100 TRx then you also need to give Liqduity for one more TRC20 tokens worth of $100. In order to provide liquidity in the pool, we can follow these simple steps-
In my case, I have 40 TRX tokens so with respect to this, I need to provide liquidity for SUN (Any TRC20 token) token as well worth of 40 TRX that will be 133 SUN tokens.
a) Click on "Option" then enter the amount of Tron and other TRC20 you want to stake. Initially, I tried with 45 trx but since it requires approval and transaction fee so it did not complete. I tried with 25 TRX and
b) Click on the Approve button as it ensures that you are doing this by mistake.
c) After the approval you are ready to supply this into the Pool and earn rewards. Click on Confirm Supply button.
d) This is the last step where we need to sign a contract to participate in the Pool. Initially, I was trying with 45 TRX to stake but due to lack of transaction fee it failed, so I tried with 25 TRx.
e) You have successfully added the Liquidity in the Pool and you can cross verify by click on Pool Button.
Also, you can remove this liquidity wherever you want and this is really a great thing about Dex that allows Long term investors to earn some money while holding the coin.
Conclusion
DEX centralized exchanges are really good and since we may see so many manipulations, theft attacks on the Centralized Exchanges. Also on the Centralized Exchanges, we are depositing the amount on the exchanges and what if they go, there was a very famous Exchange in India named "Zebpay" they gone and made traders rekt. On the JustSwap everything will be through Smart contracts and it will be a much safer way to trade. They are few challenges as well that needs to be overcome like Cross-chain support, Customer Support, Low Liquidity and Scam projects, etc. I believe the future is of DEX and I JustSwap is one of the Top projects over Tron Blockchain.
Hello @mystry360,
Thank you for participating in the 5th Week Crypto Course in its 4th season and for your efforts to complete the suggested tasks, you deserve a Total|6/10 rating, according to the following scale:
My review :
Your work is in a disorganized form as it contains several paragraphs that are repeated unlike the content that you have addressed all the questions and tried to answer them in a good way. However, this does not prevent us from making some observations:
As for the first question, you did not go into depth in analyzing it and highlighting the importance of the platform in the Tron ecosystem.
I would have liked if you had prepared an illustration of how to calculate the value of the symbols in your own view so that the interpretations would be more varied.
Thanks again for your effort, and we look forward to reading your next work.
Sincerely,@kouba01