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RE: Crypto Academy Week 11 - Homework Post for Professor @sapwood : JustLend
Thank you for attending the lecture in Steemit-Crypto-Academy- Season 2 & doing the homework task-3.
Before I can borrow any coins, I need to collaterize my supplied assets. So i reach my suppy list and hit the Collaterize radio button to enable it.
When you collateralize, it(the smart contract) literally collateralizes jTRX tokens. Some users think that they are locking TRX tokens, but NO; if you keep an eye on Smart contract Trigger you will get to discover that when you supply TRX, you literally mint jTRX tokens(which can be transferrable also), then jTRX can be collateralized to borrow another asset.
Feedback/Suggestions:-
- The author has demonstrated with a real example-- he has supplied 100 TRX to the Supply Pool to earn supply APY and borrowed 3 USDJ. The net APY is 4.40%.
- The author has included all the relevant screenshots and produced an excellent article.
Thank you.
Homework Task -3 accomplished.
[9.5]
Thanks for the addition, Professor.