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Today I go through one of the best and simplest language explanation homework posts by @kouba01 on Just swap and tron ecosystem. It's interesting to read the lecture post. Now I am Submitting my homework post to the professor.

QUESTION 1:

Answer 1:

To present just swap and it's link with tron ecosystem, first we have to understand about just swap and tron ecosystem one by one.

Just swap:

Source

Just swap is a decentralized automatic market maker exchange which is is built on tron network. Just swap used by the liquidity providers in the decentralized network to earn reward. Since it is built on tron blockchain hence all the TRC-20 tokens are trade-able with respect to each other that is same TRC 20 coin pairs. For example:- TRX/USDT, JST/TRX and so on. Just swap provide different features such as swapping two coins, providing liquidity pools, sun swap and so on. When to TRC 20 coins get exchange then the fees collected are directly divided into the protocol and the liquidity provider. This help to maintain the security and decentralized nature of of just swap.

To connect ourself with the just swap network we have to connect a wallet and the wallet known as tron link wallet. Since it is a decentralized network so no centralised facility provide liquidity as just swap depend on automatic liquidity provider. Any issue related to transaction liquidity pools increasing liquidity levels are handled and managed through smart contracts create just swap.

Tron ecosystem:

Tron ecosystem is nothing but a decentralized network built on blockchain technology to provide low transaction fees with increase in transaction speeds and also provide high scalability. Tron ecosystem was found by Justin sun in 2017. It worked on proof of stake consensus algorithm. Tron Ecosystem also hold their personal coin named as TRX. This tron coin has a great value in market.

It's current value is : ₹7.25 and total circulating supply is: 71,660,220,128.

Inter relationship of just swap with tron ecosystem:

Just swap is the decentralized exchange of tron ecosystem which means we can easily swap one coin to another coin within the same ecosystem.
By using just swap decentralized network of tron ecosystem. We are increasing interaction between the users and reducing the the transaction fees on every trade.
By using just swap we can easily swap two TRC 20 coins without any verification, the simple thing that we have to use is our Tron link wallet that we have to connect.
Within tron ecosystem just swap provide liquidity pools which help liquidity providers to earn reward.
Just swap provide high scalability within tron Ecosystem which are not provided in centralised and other swapping platforms.
Not only just swap provide trade at low fees but also so you can become a liquidity providers to the ecosystem which will help you to earn reward instead of letting your coin to be stay dead in wallet.

importance of just swap in tron eco-system:

• Just swap allow all TRC20 tokens exchange instantly within the same tron ecosystem.

• One can easily swap and then add those swap tokens in liquidity pools without changing exchange and ecosystem which provide great deals and good rewards.

• Just say guarantee high and good returns, and allow lag free Transactions.

• Liquidity providers will earn good reward from transaction fees of liquidity pool.

• Just swap is a verified exchange as all its transactions are verified through tronscan.

These are the reasons which provide us a base that it just swap is an important part of tron ecosystem. We can say that it as we use uniswap app for ethereum ecosystem we are using just swap for tron ecosystem.

QUESTION 2:

Answer 2:

Most of the coins that are developed on Tron ecosystem that is Tron blockchain known as TRC20 tokens are supported by just swap decentralized exchange. For example: USDJ/TRX, 888/TRX, DEF/TRX and so onn.

Given below is the complete list of the tokens that are listed in Coingecko. There are total 44 coins listed in Coingecko, out of which 41 are verified coins and 3 are unverified coins. The total volume trade in 24 hours is around $46,499,836. Not only there are 44 coins listed but also there are around 259 pairs in which highest market capitalisation is $69,037,696,690 of USDT/TRX.

There is a list of unverified tokens also that are listed below the verified coins only. For example : JustBet/TRX, TRON GO/TRON.

On the just swap decentralized exchange we can see an option known as liquidity pool where we can see different pairs and the total state value of tron coins.

For example: USDT-TRX LP total APY : 7.78%. total staking: $203,033,077.

The price of a just swap token determined by the process named as automated market maker method. Let us see the working of how to determine price of these tokens.

Automated market maker is the method through which price of tokens in just swap get updated. First let us see how this automated market maker work with an example that we can see in our daily life.

Suppose there are two villages. Village 1 grow potatoes and village 2 grow oranges. Both the villagers get fed up of eating oranges and potatoes so they decide to come in a deal of 40,000 potatoes and oranges exchange. In total it is around 1.6 billion trade item. This 1.6 billion is a constant value that have to be maintained. So if some year there is a shortage of orange then price of orange increase to balance the constant value and same for the potatoes.

So from this example we came to a formula in terms of decentralized tokens that refered as :

X=A*B

X=Constant product
A=Amount of token 1
B= Amount of token 2

The technique of automated market maker price of each token in the liquid people decided. To reach the particular constant value of the product of amount of token price of of single asset may increase or decrease within the liquidity pool.

Now let us take an example from liquidity pool payer in just swap. Suppose X=WBTT and Y= TRX, it is nothing but the amount of coins that are participating in a liquidity pool. Now there is a fixed amount of WBTT AND TRX maintain in pool. If few amount of WBTT was brought by a trader than WBTT get reduce in pool and hence it's price will increase. Now this is an exchange in between WBTT and TRX so it will increase amount of TRX and hence price of TRX reduced. This increase in price and price of TRX coin will give the same constant value K. Buy this automated market maker method we are balancing the liquidity pool by trading in between two coins and maintaining constant product of their amount or price.

Source

There is an exponential relation in between the tokens in a liquidity pool. If number of coins of certain type of token increase then its price will decrease and on the other hand the second token that is available on the liquidity pool increase its price to maintain exponential relation. This explanation relation provide us the constant value k at every point on the graph.

For example:

Let us take an example of TRX/ETH in which we can see the relationship Between price and supply.

case 1:

In this situation demand of TRX swap to ETH is low to 200 TRX. Each TRX is now cost us 35086.94416TRX per ETH. At this cost we will be awarded by around 0.0057001259 ETH.

case 2:

In this situation the demand of TRX swap increase drastically to 200000TRX to ETH. Now to balance the constant value in the liquidity pool the price of each TRX per ETH will change to 35240.983004 TRX PER ETH. In this case the supplied ETH is around 5.675210590~ETH. we can clearly see that instead of getting 5.7001259~~ETH we received less ETH, this is because pool have to maintain Constant amount by AMM protocol.

This is how the price of any token in just swap is determined. The main protocol which is responsible for the price is automated market maker.

QUESTION 3:

Answer 3:

As we discussed earlier that just swap is a decentralized platform based on tron ecosystem blockchain. Show the wallet we have to use is the the Tron link wallet. The steps that we have to follow to connect tronlink wallet are given below:

Account on tronlink:

• Download Tron link extension on Chrome and add it in the extension column.
  

• Now click on tronlink wallet and create a new password and do not forget that password.
  

• Then it will ask you to create new account or restore the old account. Simply restore the old account at I have already created a Tron link account. And if you don't have an account then simply create a new account.
  

• Enter the new username for your tronlink wallet, try to use username that you can keep in your mind.
  

• Enter the private key to login your running wallet that you have already created. Finally you can easily access the tronlink wallet on your laptop Chrome extension.
  

• Our account is noe finally restore and now we have ou account on Google Chrome extension available on my laptop.
  

Adding tronlink to just swap :

• First click on the link given here or search just swap on Google. Click on the first given link.
  

• Now you are on the main interface of of just swap decentralized exchange of tron ecosystem. Click on left side and you can see an option that is connect the wallet. Click on the option given there.
  

• After clicking connect wallet, click on the tronlink wallet. This is the Wallet we have to connect.
  

• Once you have start the initialisation a pop-up Chrome extension of tronlink will come on your screen, click on connect option and then your wallet get connected. Now to verify whether the wallet is connected or not we have to follow the next step.
  

• If you are able to see trx count on on just swap exchange then we can say that your wallet that is Tron link wallet is connected.
  

We follow up all these steps on laptop and Google Chrome extension. We also have a tronlink Pro mobile app that is available on Google Play Store. If you want to work on that play store app you can work in the same steps that we have follow here.

But if we talk about just swap we don't have any app of this decentralized exchange. We can only use the website that was created. That is the only way in which we can swap coins in tron Ecosystem.

But if we want to access just swap through app then we have to first go in tronlink wallet and then in discover option we can see dapps where just swap is available.

This is how we have to connect the wallet on just swap decentralized network of tron eco system. The only thing is that only we have to use the website of just swap, no app available.

QUESTION 4:

Answer 4:

On just swap tron Ecosystem decentralized platform we can trade tokens that are linked to TRC20 tokens and also we can swap TRX to btc, ETH and so on. I will be choosing TRX<>ETH swapping. Let us follow the steps to get the final result:

• Click on just swap and connect your wallet, once your wallet get connected check that you are on the correct interface of swap and not on pool. The first column of thi swap interface is for TRX that we have to swap in other token.
  

• In the second column we have to select the coin in which we have to change the TRX coin.
  

• We can see a number of tokens in which we can swap our trx coin. From this list we have selected ETH which is the most trusted coin in cryptocurrency.
  

• Now add the swapping amount of TRX tokens you want to swap in the first column, I am trading 5 TRX coins. In that reference you will get amount of ethereum listed by calculation. After checking details we have to click on swap button.
  

• After clicking on swap we will recieve a confirmation page in which all the details are provided and it will ask us about to confirm or not. Click on confirm swap.
  

• Now a new interface will show us few details and ask to sign in wallet again. We have to click on sign in option to login wallet again so that swapping process can take place.
  

• Due to high scalability and speedy transaction power swapping process get completed instantly within few seconds and we recieved a confirmation interface swap confirmed with a green tick. We convert
  5TRX--->0.000134908460984463ETH.
  

verification:

Now let us try to verify whether our swapping is completed or not using Tronlink wallet and tronscan block explorer.

• First go to the tronlink wallet and check the transaction history in which you will find a transaction id of a confirmed trade that take place that is swapping of TRX coins.
  
  This whole process cost us a nominal fees of 6TRX, and the total TRX included in process is 11 TRX. Hence remaining is around 88 TRX. As I have freezed 10 TRX.

• Now open tronscan and paste the transaction inmd we have copied from tronlink wallet. We can find our swapping transaction in tronscan block explorer also where we can see different addresses, hash, fees, process of transaction, fees of transaction and Block I'd etc.
  
  Block number: 34399851
  Transaction ID: 4d2414088ec5a448815b1503bd0f46ee50c481d08b53278f5f6bf1f9e4ca5131
  
  By checking the transaction action and confirm status also we can say that our swapping process is completed and published on both wallet and block explorer.

We need certain resources to carry out a transaction in Tron blockchain and these resources are energy and bandwidth, normal transfers use only bandwidth but smart contract transfers use both bandwidth and energy.

In my swap function 350 bandwidth out of 1500 bandwidth gets consumed, we get 1500 bandwidth daily for our normal as well as smart contract transfers. Swap function consumed 48,129 energy and I didn't have sufficient energy in my wallet so I had to burn my 6.7 TRX in return for energy.

This is how we have to swap a token from one category to another category of TRC 20 USING just swap decentralized exchange.

QUESTION 5:

Answer 5:

Liquidity provide investor a small gain in their holding. Liquidity pools are available in different pairs in just swap. In the previous question we swap trx and ethereum coin. Today we are going to add liquidity in ethereum. We can choose any pair we want only the thing is both the pair should have balance in it. Le us see the steps we have to follow:

• Change the swap condition to pool condition and click on add liquidity option given in the pool column of just swap. Before starting liquidity pool connect your wallet.
  

• Now there are two to main Rows in which we have to add amount of coins we have to supply. So in first row we have to add TRX. We are choosing 4 TRX for our liquidity pool.
  

• Now in the second row select the coin in which view have to to supply the liquidity pool. In the right side of this column there is a Arrow where select the token is written click on it.
  

• As you can see a list of tokens popped up. Select the desired trc20 token or any token you want to choose for liquidity pool supply. I will be using ETH coin as in the previous question I just swap that coin.
  

• Now on the new interface enter the amount of TRX you want to supply I it will provide you to the desired amount of ethereum in the second row and the complete information about your liquidity pool. After reading all information and confirming manually click on supply.
  

• Once you click on the supply now it will ask you to sign in your wallet to approve the supply. Click on it an move further.
  

• Once you click on sign in approve it will confirm your signature and pending ethereum Block will pop up and will get confirmed instantly.
  

• Once it get confirm it will take you to the new interface where you have to confirm the supply. Check all the details filled Above and click on confirm supply.
  

• Once again it will ask you to sign your wallet to confirm the pending supply. Once you confirm the trade it will start working on your liquidity pool.
  

• Finally our liquidity pool transaction is completed and a new popup interface of confirm supply or liquidity confirmed with a green tick appeared.
  

Verification:

Now we have to verify whether our liquidity is added in ethereum and trx pair or not. So to verify this we have two options, Tron scan and tronlink wallet.

tronlink wallet:

Go to tronlink wallet and open the the trade history or transaction history. Click on the last transaction you perform. It will show you the Transaction ID block height transaction fees and the transaction action that has been performed. This transaction action has been taken place by Smart contact triggered.

Now copy the Transaction ID from your transaction history wallet and go on tron scan.

Transaction ID:
b5179fe19090ec3884112c522290845d9598a3f306c26923247ec1abf31cced3

Transaction fee: 8.4973TRX.

Tronscan:

Paste the Transaction ID that we have copied from our transaction history of tronlink wallet. When we enter the transaction I'd we get information about our action. From block height to Transaction ID and the transaction action all the things are come in one frame.

As we can clearly see that our transaction action is
ETH-TRX liquidity.

This whole process required high amount of trx burning. This is the reason why the transaction fees of trx in swapping and liquidity pool is very high.

We need certain resources to carry out a transaction in Tron blockchain and these resources are energy and bandwidth, normal transfers use only bandwidth but smart contract transfers use both bandwidth and energy.

In my add liquidity function 383 bandwidth out of 1500 bandwidth gets consumed, we get 1500 bandwidth daily for our normal as well as smart contract transfers. Adding liquidity function consumed 60,696 energy and I didn't have sufficient energy in my wallet so I had to burn my 8.4 9 TRX in return for energy consumption in the function.

This is how we have to add liquidity in a liquid pool and for verification we can use wallet or tronscan.

Conclusion

It is time to conclude our homework post in which we discuss about just swap decentralized exchange that is a decentralized automatic market maker exchange which is built on tron network.

Just swap used by the liquidity providers in the decentralized network to earn reward. Since it is built on tron blockchain hence all the TRC-20 tokens are trade-able with respect to each other that is same TRC 20 coin pairs. For example:- TRX/USDT, JST/TRX and so on.

We can swap and also take part in liquidity pools having different pairs. The only wallet we can use to trade is the tronlink wallet. It is a tron ecosystem based wallet and tronscan block explorer is used to verify the transactions.

When we swap and add liquidity pool in a trade we can verify those trade by using tronlink wallet or tronscan. Only thing we have to learn is that we use Transaction ID to verify transaction in tronscan. The transaction process in swapping and liquidity pool cost high amount of transaction fee in terms of burning of trx.

All this performance of swap and adding liquidity are performed through just pool website, no app is available for just pool on Mobile phone. Only the app we have a tron link Pro wallet, that is used to add TRX and connect it to the just swap decentralized exchange of TRX ecosystem.

Thank you so much professor for such an great and interactive lecture on just swap and tron link wallet.