Sun.io: Sunswap, Integrated stablecoin swap, Staking, Mining, veSUN, etc.- Steemit Crypto Academy- S5W1- Homework Post for @sapwood
This is Season 5 Week 1 of Steemit Crypto Academy and I'm writing homework task about " Sun.io: Sunswap, Integrated stablecoin swap, Staking, Mining, veSUN, etc Indicator " assigned by Professor @sapwood
Question# 1
Discuss the various features of Sun.io, a comprehensive DeFi facility of Tron family?
To understand and discuss the various features of Sun.io we will first look into some introductory details. The platform is the defi platform dedicated to the swapping of stable coins such as the tron. It encourages staking, mining and swapping of tron.
Along with the staking and swapping of sun tokens it is also involved in maintaining the continuous supply by buying back and burning of these tokens by using the transaction fee.
Not to discover different features of the platform visit: https://sun.io/#/home
The top bar shows the features
Sunswap, stake, governance, airdrop and century mining
SunSwap:
we now have the V1.5 the new version of sunswap
by clicking here you find swap, LP pools, scan, sunswap, burn sun, wtrx, wbtt
this feature allows you to swap trx with other tokens and vice versa as shown below
the swap sub feature shows you the total value of assets locked, and allows you to swap your assets
the pool sub feature allows you to provide liquidity
LP pool sub feature
This feature allows
LP providers to stake their LP tokens and earn rewards in trx, wbtt, etc
To participate in 9 different pools that include USDT-TRX LP, WBTT-TRX LP, USDJ-TRX LP, NFT-TRX LP, USDC-TRX LP, TUSD-TRX LP, BTC-TRX LP, ETH_TRX LP and WIN-TRX LP
The APY is different for every pool
The other sub features in the Sunswap feature include scan act as a blockchain explorer, the SunSwap which allows direct conversion of sunold to sun tokens, burn sun which shows burnt and buy back tokens, WTRX which allows minting of TRX from Wtrx, and WBT which allows you to exchange your btt tokens to wbtt vice versa.
AirDrop feature
The Airdrop feature shows
A detail step wise plan of sun airdrops execution in 52 weeks
Claim your veCRV and connect to your wallet sub feature is also given as shown below
Stake feature
This feature
Allows you to lock your SUN for getting more rewards
Gives you the chance to speed up mining by taking part in liquidity mining of only 3 different Staking options.
The sub features here include sunlocking where you can lock sun tokens to get veSUN tokens that allow you to take part in the mining for governance. The next we have is liquidity pools feature which gives you three staking options as shown below
The governance feature
This feature:
Allow you to vote and decide the weight of liquidity pools
The century mining feature
Here you get details of ended mining pools
Question# 2)
Visit Sunswap and scan the different LP pools? How many different LP tokens are available in Sunswap? Based on the available data in Sun scan, how much fee did it generate in the last 24 hrs? What percentage of that fee is being utilized to buy back and burn SUN?
LP tokens:
There are currently 118 LP tokens on Sunswap
Scanning different LP pools
Go to SunSwap official website click on SunSwap and then click on Lp pools to see nine different pools including
USDT-TRX LP, WBTT-TRX LP, NFT-TRX LP, USDJ-TRX LP, TUSD-TRX LP, USDC-TRX LP, BTC-TRX LP, ETH-TRX LP and WIN-TRX LP.
To scan each of their data individually go to
https://sunswap.com/?lang=en-US#/scan
Here search each pair separately to get all the information or simply click on the available list. The percentage of transaction fees that is used to burn and buy back LP tokens is 16.27%.
USDT-TRX
The total liquidity, 24 hour volume, number of transactions, and pooled tokens are indicated in the screenshot below.
The total fee it generated in 24H is $80,019.9766 As 16.67% of the fees is used to buy burn and buy back sun then it is 13,363$.
WBTT-TRX
The total liquidity, 24 hour volume, number of transactions, and pooled tokens are indicated in the screenshot below.
Fees generated= $6,682.1555
Percentage for burn and buy back=
NFT-TRX LP
The total liquidity, 24 hour volume, number of transactions, and pooled tokens are indicated in the screenshot below.
Fees generated= $21,182.4613
Percentage for burn and buy back= 3,537.47$
USDJ-TRX LP
The total liquidity, 24 hour volume, number of transactions, and pooled tokens are indicated in the screenshot below.
Fees generated=$19,621.7436
Percentage for burn and buy back= 3,19245$
TUSD-TRX LP
The total liquidity, 24 hour volume, number of transactions, and pooled tokens are indicated in the screenshot below.
Fees generated=$10,263.3273
Fees for burn and buy back= $1669.842
USDC-TRX LP
The total liquidity, 24 hour volume, number of transactions, and pooled tokens are indicated in the screenshot below.
Fees generated=$0.9832
BTC-TRX LP
The total liquidity, 24 hour volume, number of transactions, and pooled tokens are indicated in the screenshot below.
Fees generated= $13,134.2386
Fees for burn and buy back= $2136.9406
ETH-TRX LP
The total liquidity, 24 hour volume, number of transactions, and pooled tokens are indicated in the screenshot below.
Fees generated: $0.1328
WIN-TRX LP
The total liquidity, 24 hour volume, number of transactions, and pooled tokens are indicated in the screenshot below.
Fees generated= $23,171.6894
Percentage for burn and buy back= $3,770.0338
Following are the details of the LP pools for 24H fees and percentage of fees used to buy back and burn
Question# 3)
Deposit either 3 Pool LP or USDC LP or SUN-TRX LP in Sun.io. Stake them to maximize the mining rewards? Demonstrate the entire process with a real transaction? (Screenshot required)? Include the resource consumption statement, take the help of Block Explorer?
Go to tronlink wallet and click on the discover icon
And click on SunSwap icon on the main page
In the swap option get USDC with TRX
Add the number of TRX you want to convert and then follow the guidelines
Now to stake them go back and click on pool then add liquidity
Add the amount of TRX and UDC and follow the guidelines
All the screenshots of the procedures are shown below
Now we will add liquidity
To stake
Go to the main menu and click on Sun
From the three option lines
Click on stake
Then go to USDC LP click on stake
After that enter the amount and click on deposit
My tronlink app was not responding for some reason so that is why I could not complete the transaction.
Question# 4)
What is veSUN? What is the 3-in-1 benefit of holding veSUN tokens?
VeSUN stands for Vote Escrowed SUN. It is the governance token on the SunSwap platform. Users obtain VeSUN by taking part in the governance mining which is in its second phase currently. These tokens are provided to
users who lock their SUN tokens for about 4 years. It helps them to earn voting rights and several other rewards. The VeSUN give their users the benefits such as speeding up liquidity in the mining pools, deciding on the weights of the liquidity pools and earn TUSD rewards.
The voting rights are proportional to the amount of VeSUN tokens and thus users with more tokens have a privilege over the others in terms of the voting procedures.
Mathematically the voting rights are calculated as,
veSUN= amount of locked sun * (expiry date - current date of locking ) / 4 years
The number of VeSUN gained can also be increased if you hold your SUN for a longer period.
The 3-in-1 benefit of holding VeSUN tokens
The rewards by holding veSUN tokens are termed as 3 in 1 as you bag three benefits just by holding one token these include
Holders get weekly rewards:
For the period during which your SUN are locked users get rewarded from a portion of the transaction fees from stable coin pools. About 50% of the transaction fee is distributed among the holders with holders holding more tokens getting a higher percentage than the others.
Holders can speed up your mining pools:
By holding the veSUN tokens you get a chance of speeding up your liquidity mining. The speed can be maximized to 2.5.
Holders can take part in determining the weights of the liquidity pools
Holding VeSUn gives you the right to take part in deciding the weights of the mining pools in the meeting of the holders that is held every Thursday.
Question# 5)
What is stablecoin swap facility in Sun.io? How many different stablecoins are supported in the SUN platform? What is its use in the context of staking & mining?]
What is stablecoin swap facility in Sun.io? How many different stablecoins are supported in the SUN platform? What is its use in the context of staking & mining?]
The stable coin swap facility is a sub feature given in the feature of Sun.io that allows users to exchange trc-20 stable coins with each other. It is done via 3 pool swaps.
The stable coin swapping feature makes Sun.io the first platform on tron that allows stable coin swapping. This saves traders form price volatility and is very cost effective. There are low chances of price slippage and thus it is very user-friendly and over all increases the mass adoption of sun.io platform.
Sun.io supports four stable coins including
USDT, USDJ, TUSD and USDC
In terms of staking the four stable coins make two LP pools these include 3 pool LP and USDC LP.The 3 pool LP consists of USDT, USDJ, and TUSD. The users have to deposit equal amounts of each of these tokens to get three 3 pool LP tokens.
In the second Pool you swap SUN and USDC such that for every USDC you get 3 SUN
In terms of mining there are separate mining pools for each of the stable coins. Here you stake USDC, USDT, TUSD, and USDJ to earn TRX.
Thus through mining you get TRX through these stable coins and in staking you get SUN.
Conclusion:
I have learned a lot about SunSwap after doing Homework task this week. Now, after completing this task, I must say that
SunSwap holds a lot of importance in staking and mining of stable coins and it is one of the reasons for the increasing adoption of the Tron blockchain. The swapping of stable coins is very easy through the SunSwap.
CC:
Club5050 Eligible
