Steemit Crypto Academy Season 4 Homework Post For Task 1 Tron Ecosystem By Professor @sapwood Submitted By @simeon00 Date:24-09-21
>"Question 2: What are the different dAPPS in the Tron Ecosystem are you familiar with? What are the uses of DeFi applications like Justswap, JustLend, and Sun.io? How can you optimize mining rewards by staking TRX and other TRC20 tokens in Sun. io? Examples?
Answer 1
The different dAPPS in the Tron Ecosystem are as follows:
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Rocket Game is the initial Tron dAPP that provides PVP(Player Vs Player) games and also provides other games such as Monopoly Dice, Rocket Dice, mines, keno, Fruit Machine, Plinko, Hi-Lo, Ring, etc.
Rocket game bolsters or sustains mining and betting and equally provides dividend and contest rewards to the players. This dAPP's users can begin playing on Rocket Game by employing or using the TronLink wallet, thus circumventing or evading all the requirements for registration. It's needless to utilize substitute methods of payment such as credit cards on Rocket Game since it's possible for the users to log into the TronLink wallet and pay for Rocket game which is easy to play in order to commence playing on it's platform. This dAPP, namely Rocket Game, has 9,285 active users and they have witnessed 14,658, 084 transactions, and with a total transaction volume of 175,515,690.71 USD so far.
Poloni Dex was formerly known as TRX Market and it was the primordial or first Tron network- based decentralized exchange in the world. However, TRX market was owned or secured by Poloniex for more than a year now, and since it's acquisition by Poloniex, this Tron DAPP has been known as Poloni Dex. All the transactions that are done in the platform are carried out or performed in TRX smart contracts. The users make use of the wallet directly for transactions, therefore, Poloni Dex cannot tamper with user transactions. Poloni Dex targets the goal of being a highly-secured, transparent, quick, and convenient exchange, where all of it's transactions are stored on the blockchain. In fact, there are no trading fees demanded by the exchange. At the moment, Poloni Dex has 49,872 active users and they have witnessed 6,231,813 transactions with a total transaction volume of 140,662,114.98 USD so far.
Bankroll is a Tron DAPP and it strives to provide a voluntary, and sustainable universal basic income to it's users via it's investment contract. The user must download a Tron wallet on his or her phone, or desktop prior to utilizing the Bankroll contract. The four blocks that are the core areas interacting with Bankroll smart contract are TX Burn Protection, the Sponsor Box, the Fund Box, and the Claim Box. For example, the Fund Box exhibits the sponsorship credits on hand, amount of credits owned, and the number of referrals. The TX Burn protection informs users when their Tron wallet has fewer than 10TRX in it, and the Claim Box indicates the deposits, earnings made by the contract , the reinvested funds and the user's withdrawal record in the past. Finally, the Sponsor Box is used for supporting others by sending Tron to them. The Tron, in effect, translates into credits which assist them earn more Tron. Bankroll has 13,041 active users and they have witnessed 2,746,010 transactions with a total transaction volume of 17,622,621.85 USD so far.
TronTrade is one of the most common or famous Tron DAPPS, where it's users can trade on both TRC10 and TRC20 tokens without difficulty. It's a decentralized exchange that is basically aimed at offering a safe and trustworthy crypto trading experience to it's users. They provide daily support and their user community is their central focus. TronTrade provides BNKR/TRX, WIN/TRX, USDT/TRX, TOPIA/TRX, NOLE/TRX and IGC/TRX trading pairs to it's users. TronTrade has 30,896 active users with a total transaction volume of 319,263,814.37 USD until now.
Zethyr Finance is a common or famous Tron DAPP and it's carefully decentralized. It is worked with more than 1,300 various parts of the blockchain network that track or verify transactions and new blocks on the Tron Blockchain, hence, Zethyr is not likely to stop working nor record any single point of failure. Zethyr users deal directly with a Tron smart contract known as Zethyr Trust for trading on tokens. Zethyr Finance is aimed at providing a truly transparent exchange to the crypto community. The exchange shares or allots 100% of transaction fees earned via trades carried out or performed on it's platform to it's community, facilitating complete user control over the way the exchange is determined. This Tron DAPP identify themselves as the #1 DeFi application on the TRON blockchain, assisting TRON users to borrow and also lend their TRX cost-effectively or at a profit. Zethyr users can borrow TRX from the exchange by following four distinct steps and they're as follows:
- Users deposit TRON token to Zethyr Finance's platform.
- Users can borrow TRX in comparison to their deposited crypto assets. Yet, the quantity of TRX borrowed is limited by the complete or whole value of their crypto assets at the time of borrowing.
- Users pay interest rate regularly on a daily routine to bypass or forestall higher daily interest rate.
- Users pull out their TRON token by settling or paying the principal loan and remaining interest that is yet to be settled, if their is any. Of course, Zethyr Finance has 565 complete or whole outstanding users at the moment.
888 Tron is an all-round useful Tron DAPP and it's 888 token is TRC-20 smart contract compliant. The 888 token helps in offering a healthy gaming environment and functions of the platform. 888 Tron offers revenue-generating and profit-sharing opportunities to it's token holders. 888 Tron provides it's users games such as Dice 52, Dice 3D, GrandX, Gonzo's Quest, Bloodsuckers, Jumanji, Starburst, etc. 888 Tron also provides dividends to their users, and this system is known as 888 Dividend System. The users are automatically involved in the mining process when they place bets on the 888 Tron's platform and they receive 888 tokens compared to every bet they placed on the platform. The profits are gathered in a smart contract called Divided Pool and this pool releases 100% of it's collected funds in every 2 days. All the users that have held and frozen their 888 tokens across the 888 Tron Ecosystem collect 65% of gathered profits from the Divided Pool. In fact, 888Tron has 26,925 active users and they have witnessed 13,976,620 transactions with a whole transaction volume of 428,829,175.57 USD till now.
Hypersnakes is one of the earliest gaming Tron DAPP that was sponsored by the TRON Arcade Fund, which has $100 million in it's Kitty for growing TRON ecosystem. Hypersnakes is a multiplayer game that is based on a blockchain which is available worldwide. Hypersnakes provides both free and paid options to it's players. For example, the players that choose free-to-play mode receive rewards for playing the game and also for taking part in missions and daily quests. On the other hand, the players that are willing to pay can play in premium rooms where they can earn some TRX from the reward pot according to their performances. In fact, Hypersnakes has 85,661 special users with a total transaction volume of 1,993,894.62 USD at the moment.
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Answer 2
At this juncture, i'll be analyzing the uses of 3 DeFi applications such as Justswap, JustLend, and Sun.io
Justswap is the earliest decentralized exchange(DEX) of the Tron network. Justswap is a decentralized Amm-based exchange that facilitates or assists users to exchange a token (TRX, TRC20 tokens) for the other(which belongs to the same family) without depending on the liquidity to do an exchange. However, DEX encounters major liquidity crisis as the liquidity is broken into small parts, and since there is no such centralized pool, the liquidity remains in the decentralized wallet of the individual traders. Justswap depends on the core principle of AMM-based DEX which is known as the exchange rate, whereby the price of an asset adjusts itself to bring it to the equilibrium condition which has it that the product of x and y(xy)=k, and that applies if xy is not equal to k. Actually, this is a constant product market-making mechanism, that (xy=k), hence, Liquidity Pool(LP) is devised in which x and y represent the two sides of the pool, and also in this case, the product of x and y is constant at any given time, and according to the graph below, the equilibrium condition is xy=k.
Based on the above-mentioned principle of AMM-based DEX, Justswap can invent or devise a liquidity pool for each pair where it's users are free to contribute to the pool and depending on their contribution ratio w.r.t the complete pool size, they earn their share. When an individual contributes to a pool, he has to contribute the equivalent value to both sides(x and y). At this point, AMM model exchange opens an opportunity for the investors to collect their tokens and earn exchange fees from each trade. In Justswap, the trader pays a 0.3% fee everytime there is an exchange, and the fee is shared correspondingly among the liquidity pool providers, thus when an individual supplies coins both sides to a Liquidity Pool(LP), he or she is qualified for a liquidity provider fee that tallies with his or her liquidity contribution.
JustLend is a decentralized Finance App that is based on Tron Blockchain, a money market protocol that is transparent, and also effective in it's pricing. It adheres to all the parameters of a DeFi, and the remarkable ones are Low Network Fees, Micro-Lending, etc. Influenced by smart contract, JustLend creates two pools, namely, Supply Pool and Borrow Pool, and in line with the demand and supply, a powerful interest rate is defined. In this case, a supplier earns a floating interest rate, while a borrower pays a floating interest rate. If the liquidity is on the higher side in the supply pool, and the demand for the token(to borrow) is on the lower side, it then follows that the interest rate reduces and vice versa. Rather than a daily interest rate, the floating interest rate in JustLend is decided every 3 seconds. There is a security or surety factor that changes from 0 to 1, with a lower value showing low liquidity and a higher value showing better liquidity. The security factor multiplied by the security or surety value is the amount of loan for the borrower. A higher collateral or security factor(close to 1) implies better liquidity while a lower collateral factor(close to 0) implies lower liquidity of a particular market. It's necessary for a borrower to first secure jTokens(by supplying an asset), surety it to borrow any listed asset. So the collateral value of a borrower is the worth of jTokens. A borrower is free to borrow up to a certain amount and interest is amassed and accumulated every 3 seconds.
JustLend has different markets such as TRX, USDT, USDJ, SUN, SUNOLD, WIN,BTC, ETH, NFT,etc.
In addition, JustLend sets up or creates two pools, namely, Supply Pool and Borrow Pool.
In this case, if liquidity is added to the supply pool, it'll give rise to an interest rate earning based on the supply APY, coupled with the issuance of jTokens. For example, if TRX is added to the TRX pool, then that will effect the issuance of jTRX tokens. At any given time, a supplier can pull out the liquidity.
To borrow, it's necessary to surety jTokens. The borrower will be given jTokens when he contributes to a supply pool, thus he can surety jTokens to borrow any favourite asset(listed in JustLend). A borrower can open the jTokens only after reimbursing or refunding the borrowed asset. After opening jTokens, a borrower can pull out or withdraw the liquidity from the supply pool. In simple terms, the collateral or security is locked for a borrower, whereas there's no such prohibition for a supplier, in fact a supplier will continue earning and amassing the floating interest rate each block(3 seconds), and he is entitled to pull out or withdraw his tokens from the pool at any specified time.
Sun.io is a committed separate part of DeFi in Tron that stores various DeFi projects of Tron, Stake mining, Self-governance, etc. One can earn a premium in the Sun ecosystem on top of Stake mining and liquidity mining. Sun.io has succeeded in concluding century mining in relation to the defined schedule to the satisfaction of DeFi traders/stakeholders. Besides the introduction of stable coin swapping by Sun.io, it has also launched Genesis mining and governance mining with a commitment of 5 billion SUN. Out of this 5 billion SUN, 30% is to be used for Genesis mining and governance mining for the first three months.
Now, we're going to be looking at two types of SUN staking pool, and they're Stake Sun Pool and Stake and Lock Sun Pool
In this case, it is possible to stake and pull out at any time of one's choice without any prohibition.
Here, there's need to stake and lock the token for a particular or stated period.
Answer 3
I can optimize mining rewards by staking TRX and other TRC20 tokens in Sun.io by adhering to the following instructions:
- Make deposit of TRX tokens in a compatible wallet like TronLink wallet. To do this, there is need to first of all download and also install TronLink wallet from www.tronLink.org/, and of course, i have already downloaded and installed TronLink wallet in my phone prior to this time. Below is a screenshot of my TronLink Pro wallet.
- Open Sun.io and click on connect to wallet.
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At this point, you have succeeded in linking to your TronLink Pro wallet.
- Continue to stake on Sun.io, and click on one of the different options which is stake and it will display or indicate a layout where you can opt for either stake or stake and lock. If you opt for stake, you're entitled to pull out any time you wish to do so, but when you opt for lock and stake, you'll just be entitled to withdraw or pull out at the specified or stated time of stake.
Cc:
@sapwood
@steemitblog