Steemit Crypto Academy Season 2, Week 3 | Homework Post for @sapwood | JustLend

in SteemitCryptoAcademy3 years ago (edited)

What is JustLend?

Justland is a tron-driven coin market protocol that aims to establish a fund pool whose interest rates are determined by an algorithm based on the supply and demand of TRON assets.

What are the different Markets available in JustLend.

There are several markets available in Justlend and all of them are quite potential. Some of them are; TRX (Tron), USDT (Tether), ETH (Etherium), BTC (Bitcoin), Win (Wink), USDJ (Just Stablecoin), JST (Just), WBTT (Wrap BTT), Sun (Sun) and more.

jj.png

In the picture above you can see 9 markets available on JustLend at this moment.

How do you connect TronLink Wallet to JustLend.

To connect Tronlink to JustLend website, you need to use Tronlink extension in Google Chrome. First go to https://www.justlend.org/ here and you will see JustLend webpage where you have to connect your tronwallet to justlend webpage. In screenshots below i will show you how to connect.

  • Click on Connect Wallet on the left top corner.

J1.png

  • Click on the Tronlink wallet shown in the screenshot below. That being said, if your browser does not have a Tronlink Extension, you must first add it and login to your browser. Then when you click on connect, it will connect automatically.

J2.png

  • Go to the Chrome Web Store and add the Tronlink extension if you haven’t done it yet.

J3.png

  • Now you can see that my wallet is connected to Justlend. This is how you can easily connect your Tronlink wallet with Justlend.

J4.png


How to Supply a Token to earn Supply APY.

You have now successfully connected to TronLink wallet. You can now earn APY by supplying any token if you want. You can easily earn interest from whatever is available in the market.

  • I want to supply TRON (jTRX). Let's see how to supply a token.

  • Click on Supply screenshot below.

j5.png

  • Enter the amount you want to supply and click on Supply again to confirm.

J6.png

  • Confirm the transaction by clicking on Accept

j7.png

  • The above process was successful and the delivery history on my Justlend dashboard will look like the screenshot below.

Screenshot_20210429-210626.jpg

(3) How do you acquire jTokens, after supplying a particular token, check your TronLink Wallet and indicate how many jTokens you have acquired? (Screenshot Needed)

In order to acquire Jtokens, you must connect to Justland to continue your Trolllink wallet pro or chrome extension. After I successfully supplied TRX on Justland, the supply details on my dashboard will show. I have to go to Tronlink wallet "Add Assets" Scroll down a bit and found that I got 4998 JTRX. Screenshot below 1 and 2.

1

Screenshot_20210429-212049.jpg

2

Screenshot_20210429-212326.jpg

How do you collateralize jTokens to borrow another asset? Borrow any asset of your choice(e.g. USDT), you can borrow a micro amount(as little as 1 USDT), include the entire process with screenshots?

  • Visit www.justlend.org/ from Discover and top dApps name or url if you use Tronlink pro.

  • I already have my wallet connected to tronlink.

Screenshot_20210429-214357.jpg

  • From the dashboard, I switched collateral to "YES".

How to Borrow an Asset on JustLend Platform.

On the main page of JustLend you will see below USDT that, I will borrow. I click the Borrow button and The popup will open there, I decide to borrow 1 usdj

Screenshot_20210430-195032.jpg

My loan is currently running with a risky level of 45. If it reaches 100 it will be liquid and my net APY is 1.81%. It's actually quite straightforward. And if I want, I can even use my USDT to supply USDT in Justland and thus I will make it more attractive.

Screenshot_20210430-200236.jpg

N.B: All of the above screenshots are taken from the JustLend webpage.

Thank you @sapwood

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 3 years ago (edited)

Thank you for attending the lecture in Steemit-Crypto-Academy- Season 2 & doing the homework task-3.

My loan is currently running with a risky level of 45. If it reaches 100 it will be liquid and my net APY is 1.81%. It's actually quite straightforward. And if I want, I can even use my USDT to supply USDT in Justland and thus I will make it more attractive.

That's(1.81%) not Net APY, rather Borrow APY.

As I can check your transaction in Block explorer you have received 4998 jTRX tokens by supplying 50 TRX. You have several failed attempts to borrow because you did not have sufficient energy.

Please note that smart-contract operated transaction consumes energy and if you don't have sufficient energy then it will burn a few TRX to accommodate it.

You can replenish energy in two ways--

  • Freeze a few TRX
  • Lease Energy

With the latter being more economical particularly when you deal with a smart contract.

Feedback/Suggestions:-

  • The author has demonstrated "How to supply in JustLend" with a real example-- She has supplied 50 TRX, but she could not able to borrow due to insufficient Energy(and low TRX balance).

Thank you.


Homework Task -3 accomplished.
[5]

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