JUSTSWAP - Steemit Crypto Academy Season 4 - Homework Post for @kouba1

in SteemitCryptoAcademy3 years ago

IMG-20211005-WA0000.jpgImage Source

Hello everyone,
I'm very happy to participate in this week's lecture mentored by our crypto-professor @kouba01 which centered on "JUSTSWAP".

This post will be focused mainly on the homework tasks given as stated below:

  • PRESENT JUSTSWAP PLATFORM IN YOUR OWN WAY, DEMONSTRATE IT'S IMPORTANCE TO TRON ECOSYSTEM BLOCKCHAIN
  • WHAT TOKENS DID JUSTSWAP SUPPORT TRADING, HOW IS THE PRICE OF JUSTSWAP TOKENS DETERMINED(HOW IT WORKS), USE AN ILLUSTRATION TO EXPLAIN IT?
  • HOW DO I CONNECT MY WALLET TO JUSTSWAP.OI, DOES IT HAVE A MOBILE APP?
  • INCLUDE A REAL INTERACTION WITH JUSTSWAP, DEMONSTRATE HOW YOU CAN TRADE ON IT'S PLATFORM
  • INCLUDE YOUR REAL INTERACTION WITH JUSTSWAP, DEMONSTRATE HOW YOU CAN ADD LIQUIDITY?
  • CONCLUSION

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PRESENT JUSTSWAP PLATFORM IN YOUR OWN WAY, DEMONSTRATE IT'S IMPORTANCE TO TRON ECOSYSTEM BLOCKCHAIN

JUSTSWAP is a first ever TRON-based decentralized Automated Liquidity exchange platform. It enables the users to swap their tokens (i.e, TRC-10, TRC-20) for any other token of the same family with ease and best exchange prices. There's an immediate trade on this platform Because of it's high liquidities.

JUSTSWAP is one of vital and highly decentralized crypto-based platform designed by JUST Foundation that focused solely on Tron, A digital asset and other related tokens from the Foundation.

In JUSTSWAP platform, the Liquidity providers earns from the transaction fee and the commission for the tokens provided for swapping while the traders get instant conversion of the token at very benefitting prices. The trading prices are decided by the protocol and the commission paid directly to the liquidity providers proving the true nature of the protocol as a decentralized platform.

The traders had better options with JUSTSWAP as it provides countless liquidities for their token swapping and at best exchange rate.

JUSTSWAP as a useful Dex protocol is designed as a smart contract on the Tron Blockchain network and support other countless vital projects too.

IMPORTANCE OF JUSTSWAP TO TRON ECOSYSTEM BLOCKCHAIN

Being a decentralized exchange platform domiciled in the Tron ecosystem, JUSTSWAP have contributed immensely for the sustainability, upliftment and economically to the Tron Blockchain in these dedicated ways;

  • TRANSACTION SPEED
    JUSTSWAP platform have very powerful and great Scalability abilities coupled with it's high liquidities provided, the transaction speed rate for it's swapping and trading operations are very fast. With it's Automated model, the orders are executed very fast and in time.

  • MAXIMUM LIQUIDITIES
    Because of it's great offers in the forms of earnings as commissions, there are many liquidities providers with varieties of liquidities provided at every given time making the BID-ASK SPREAD very narrow with best options for trader's transaction orders. JUSTSWAP platform is the best decentralized platform for TRC-20 Tokens and other supported tokens with maximum liquidities.

  • PERMISSIONLESS AND OPEN-SOURCED PROTOCOL
    Every users can access the JUSTSWAP platform freely with their wallets connected. The identities are highly protected with the transactions very transparent and secured. The protocol's services are highly decentralized and trustless for every users.

WHAT TOKENS DID JUSTSWAP SUPPORT TRADING, HOW IS THE PRICE OF JUSTSWAP TOKENS DETERMINED(HOW IT WORKS), USE AN ILLUSTRATION TO EXPLAIN IT?

iMarkup_20211007_125121.jpgImage Source

According to COINMARKETCAP, the trading volumes on the JUSTSWAP platform is $59,151,872.94 currently. As a Tron based decentralized exchange platform, which supports TRC-20 Tokens and other supported tokens with trading pairs as shown in the table below:

#TOKENSTRADING PAIRS
1TETHERUSDT/TRX
2WINKLINKSWIN/TRX
3USDJUSDJ/TRX
4BITCOIN TRC20BTCT/TRX
5JUSTJUST/TRX
6LUMI CREDITSLUMI/TRX
7888 TRON888/TRX
8DAISY LAUNCH PADDAISY/TRX
9DEFFECTSDEF/TRX
10SEADOG FINANCESEAD/TRX
11KLEVERKLV/TRX
12ZOE FINANCEZOE/TRX

HOW THE PRICE OF JUSTSWAP TOKENS BEEN DETERMINED

The prices of coins/assets on the market operations is determined accurately by the interplay of demands and supply forces. In a JUSTSWAP platform, the trading pairs forms the demands and supply parameters which is accurately determined mathematical function of: X × Y = K. Where X stand for the FIRST Token, Y stand for SECOND Token and K for constant. Since the first Token X and the second token Y is not in equilibrium. That's creates a POOL And determines the relationship between the pair(i.e, the price) as the variation of prices of the Tokens, X, Y are noticable but in opposite directions. To satisfy this situation in order to get the constant K, there will be regular execution of transaction orders of the trading pairs in the LIQUIDITY POOL at any determined PRICES.

HOW DO I CONNECT MY WALLET TO JUSTSWAP.OI, DOES IT HAVE A MOBILE APP?

Since there's no direct web/mobile application for JUSTSWAP platform, To launch the JUSTSWAP platform, One will launch the first Blockchain platform ever on the Tron Blockchain ecosystem. The name of this platform based on Tron is called TRONLINK, On this platform, a wallet can be created and LINK to other supporting projects and protocols like JUSTLEND, JUSTSWAP ETC. TRONLINK have both a mobile application and web format.

STEPS TO LAUNCH JUSTSWAP PLATFORM FROM MY INSTALLED MOBILE TRONLINK APP

STEP ONE.
Launch the Tronlink App on my phone by clicking the Icon.

IMG-20211008-WA0002.jpg

STEP TWO
SELECT AND CLICK ON DISCOVER BUTTON AT THE BAR BELOW.

iMarkup_20211008_121451.jpg

STEP THREE
ON THE POPULAR DAPPS PAGE, SELECT AND CLICK ON JUSTSWAP

iMarkup_20211008_121608.jpg

Congratulations, The JUSTSWAP Platform is Successfully Launched And Ready to be used.

iMarkup_20211008_121645.jpg

INCLUDE A REAL INTERACTION WITH JUSTSWAP, DEMONSTRATE HOW YOU CAN TRADE ON IT'S PLATFORM

IMG-20211008-WA0004.jpg

On the JUSTSWAP Platform, there are TWO basic operations to be carried out. On the picture above, Those operations are SWAP and POOL. Swap is for the trading operations while Pool is to add liquidities to the platform. Let's me carried out trade in these following steps below.
STEP ONE
Select and Click the Token, One have on the wallet. I have 9 TRX on my wallet and it was selected.

iMarkup_20211008_123950.jpg

Indicate the Token/asset to swapped with. I selected NFT'S asset. An Exchange and liquidities fees are generated for the easy execution of the trade as SWAP is clicked.

STEP TWO
Confirmation of the trade. With the details of swapping exercise.

iMarkup_20211008_124052.jpg

STEP THREE

The trade was successful and can be viewed on TRONSCAN

iMarkup_20211008_124215.jpg

INCLUDE YOUR REAL INTERACTION WITH JUSTSWAP, DEMONSTRATE HOW YOU CAN ADD LIQUIDITY?

IMG-20211008-WA0004.jpg

To become a Liquidity provider, One will Click on the POOL the JUSTSWAP Platform as indicated in the picture above. To carry out this operation of adding liquidities, I will follow these steps.

STEP ONE

On the JUSTSWAP Platform, After Click on POOL to enable the user to provide liquidities, on this page below, Click on ADD LIQUIDITY.

IMG-20211008-WA0011.jpg

STEP TWO
Select the token to used to add liquidities and type in the Amount preferably TRON. In the picture below,0.0018 of TRX selected for the exercise.

IMG-20211008-WA0010.jpg

NFT asset of 48.7459 was selected to be supplied. The fees including the Liquidity and transaction etc are indicated on the page. The SUPPLY button will be clicked.

STEP THREE

CONFIRMATION OF THE TRANSACTION.

IMG-20211008-WA0013.jpg

The transaction can be viewed on the Tronscan

IMG-20211008-WA0012.jpg

The Liquidity provided was approved.

IMG-20211008-WA0008.jpg

CONCLUSION

Tron Blockchain under Justin Sun, it's founder have developed strongly with several vital protocols like JUSTLEND, JUSTSWAP etc have improved the values of their token, Tron and other supporting tokens Just, Sun etc.

JUSTSWAP platform as a smart contract designed on Tron Blockchain ecosystem have impacted favourably on the Blockchain ecosystem with it's best exchange rates, commission and trading fees for it's users.

As a decentralized platform, this wonderful exchange platforms, JUSTSWAP with it's basic operations of swappingand pool have helped to sustain Tron ecosystem with huge volumes of this token locked and provide instant liquidities for trader's with best rate and low cost.

NOTE THAT I'm using the mobile version for all these exercises And the screenshots provided.

Sort:  

Hello @sammylinks,
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|7.5/10 rating, according to the following scale:

OriginalityCompliance with topicConsistency of methodQuality of analysisClarity of structure & language
(1.5/2)
(1.5/2)
(1.5/2)
(1.5/2)
(1.5/2)

My review :

Good content in which you tried to implement what was asked of you to explain it with distinction. Here are some notes I give you.

  • 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

 3 years ago 

Thanks so much my Prof

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