Steemit Crypto Academy | Season 2: Week7 |Homework task for @sapwood| Liquidity Mining (Tron- Sun.io)
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Hello Steemians,
As we are in week 7th with yet another interesting lecture by professor @sapwood. I have learned a lot from this class. Here Is my task submission. And I'm using a desktop to complete all the processes.
Background
You might be thinking that why we need LP mining instead of voting. As for voting, we get fewer rewards to compare to LP but yes at times there is a risk factor because you are staking. There are other many choices on the Tron link like previous we learn Supply On Justlend.
(1) How do I connect my TronLink Wallet to Sun.io?(Screenshots needed)
Here are the steps:
- Searched sun.io on Google.
- Landed to the Home page of Sun.io
- Clicked on Connect to Wallet button: Make sure Tron wallet login.
Screenshots are below.
Connected my Tron wallet to the sun.io
2. What are the different liquidity mining pools? Which one offers the highest APY? How many different rewards do I get by staking LP token? (Screenshots needed)
There is a total of 9 different liquidity mining pools on SUN.io.
S No | Liquidity Pool | Current APY% |
---|---|---|
1 | SUNOLD-TRX LP | 36.21% |
2 | TUSD-TRX LP | 18.98% |
3 | WIN-TRX LP | 7.42% |
4 | USDJ-TRX LP | 6% |
5 | WBTT-TRX LP | 5.88% |
6 | BTC-TRX LP | 5.67% |
7 | JST-TRX LP | 5.47% |
8 | USDT-TRX LP | 4.47% |
9 | ETH-TRX LP | 3.86% |
The APY can be vary based on the Tron network. I took all the information on May 27, 2021, 12:05 AM (IST)
SUNOLD-TRX L gives the highest APY 36.21%
As currently from the total of 9 supply mining and for staking we get 6 rewards tokens as TRX, JST, WIN, SUN, BTT, and BTCST.
(3) How do I obtain LP Token by adding liquidity in Justswap? What is the quantity(Explore through your wallet/Tronscan)?(Screenshots needed)
To perform this operation I have already from my JustSwap $1 from my previous exercise and 12.3 TRX. So I'm selecting USDT/TXR pair.
By landing on the Justswap site.
Flip To Pool section.
Total LP Token obtained 15.77
Transaction detail
(4) How do I stake LP Token to earn five different tokens on Sun.io? (Screenshots needed)
For this question, I'm selecting USDT-TRX LP with 4.42% APY. from the Sun.io liquidity mining option.
And I'm going to stake 15.77 USDT-TRX LP. Below are the screenshots.
My total of 15.77 USDT-TRX LP staking. and with 6 different rewards tokens.
(5) Which reward(out of five different rewards) can be withdrawn at any time? How do claim that (indicate that in the screenshot)?
From 6 different rewards tokens, 33% Sun reward is available for withdrawal anytime while the remaining 5 other tokens get unlock on weekly basis for 24 weeks.
By clicking the managed option and the claim.
As currently, I have 0 rewards. So no point to burn energy and bandwidth.
(6) What is the schedule of unlocking the mining rewards? Indicate the total undistributed/distributed mining rewards in the screenshot?
As in the below, the screenshot can mining rewards(6 different TRX, SUNO, JST, WIN, BTT, and BTCST) can be unlocked on weekly basis in 6 months (24 weeks) period.
(7) Include the real example of your interaction with Justswap and Sun.io as required in this task? Indicate how a "stake"(in Sun.io) function consumes different "Energy & Bandwidth" than "obtaining LP token" (in Justswap)? You should add/remove a small amount of liquidity to obtain/redeem your LP token(as little as 1 USDT worth)? (Screenshots needed)
As I have added 12.3 TRX and $1 USDT for liquidity pool on JustSwap and obtained 15.77 S-USDT-TRX tokens to complete this transaction burn total energy of 60902 and bandwidth 383 from my Tron wallet.
Here is the transaction detail.
While Staking into USDT-TRX LP on Sun.io
Whereas fro liquidity mining pool USDT-TRX LP and getting 6 different tokens rewards as TRX, SUNO, JST, WIN, BTT, and BTCST. So in this transaction consume 89516 energy, 313 bandwidth, and 12.5 TRX.
Transaction detail
The Energy and Bandwidth consumed Justswap vs Sun.io
Resources | Justswap.io | Sun.io |
---|---|---|
Function | Obtaining LP Token | Staking in LP |
Amount | 15.777 | 15.777 |
Energy | 60902 | 89516 |
Bandwidth | 383 | 313 |
TRX burned | 8.5TRX | 12.5 |
(8) How do I unstake LP token and claim mining rewards(Sun.io)?
As I have a total of 15.77 USDT-TRX-LP and 0 SUNOLD by click on Calim and Unstake. currently, I just click on reject.
Conclusion
Thanks,
@sanjeev.kumar