Crypto Academy Season 4 Beginners' course - Task 1: Tron Ecosystem By @uzoma24
WHAT ARE THE DIFFERENT DAPPS IN TRON ECOSYSTEM ARE YOU FAMILIAR WITH?
WHAT ARE THE USES OF DEFI APPLICATIOS LIKE JUSTSWAP, JUSTLEND AND SUN.IO?
HOW CAN YOU OPTIMIZE MINING REWARDS BY STAKING TRX AND OTHER TRC20 TOKENS IN SUN.IO? EXAMPLES?
When we talk about tron, according to my research, Tron evosystem has various kinds of it's outcome such as DApps and public chain. This tron was developed by producers in different part of the world. Tron also, was founded by Justin Sun
As we all know that there are various dapps in tron ecosystem but in this question, we are asked to choose three among them. Those mentioned below are the dapps in tron ecosystem am. Familiar with.
STEEMIT
Steemit is a decentralized platform that started existing since 2016 in steem blockchian, which enables uses in the platform to earn some steem token, when they create quality content. Although, they dont only get rewarded only with steem couns, rather they also get rewarded with steem backed dollar ( SBD ) and trom as well. Steemit also is the first social media app that was built in steem blockchain. Steemit is a business of steem power, so therefore, to carry out actions on steemit platform, you need steem power. Those actions includes÷ To vote, resteem and post.
| Price of steem | $0.6526 |
|---|---|
| Rank | 282 |
| Trading volume 24h | $40,951,883 |
| Marketcap | $256,960,060 |
| Fully diluted marketcap | $267,157,128 |
| Circulating supply | 391,875,183.67 STEEM |
| Volume / Market Cap | 0.1564 |
WINK
The second dapps am familiar with, is WINK. Wink was invented or established by CTO Nathan smith in 2014. Wink is a social platform in blockchain and additionally a gaming platform , which allows users to stake over many blockchain network. It's a decentralized platform that has a range of famous casino games and competitions. User will bet in crypto tokens in an ecosystem in which odds are obvious or transparent and payout in mutable and automatic. Aside for imparting this gaming event or affair, wink may also allow outside developers to construct their own gaming intensity on the platform. Wink also have a track record as it is used to be called Tron bet. Users always have costody of their funds and all games and winnings work on cryptocurrencies.
| Price | $0.0007229 |
|---|---|
| Rank | 143 |
| Trading volume 24h | $157,233,394 |
| Marketcap | $553,836,041 |
| Fully diluted marketcap | $721,681,284 |
| Circulating supply | 766.15B WIN |
| Volume / Market Cap | 0.2846 |
USWAP
The third dapp am familiar with is USWAP. Uswap is a decentralized exchange platform that was built on tron ecosystem or tron network, which was also based on smart contract. It's an exchange platform that allows it's users to buy and sell cryptos and also swap cryptos. In uswap, there is not account, kyc, name or address, you can only trade by connecting immediately with your wallet to smart contracts.
Decentralized finance in short DeFi is said to be a system that works on it's own without any institutions or third party controlling it. Using defi, traders or users can trade any cryptocurrency, not only trading, but also can lend cryptocurrency without any third party involved in it. The good thing in defi is that, transferring or swaping crypto or trading cryptocurrency is very fast and easy, no third party to confirm transaction, because it may delay.
Now lets talk about uses of thr above mention defi.
Justswap is an exchange which is also decentralized and it allows users to make instant exchange with TRC20. It is being based upon tron network and can be used to swap tokens like TRC20. You can contribute to TRC20 token pair liquidity pool to earn passively. In justswap platform, you can provide liquidity in a very low fee.
| Justswap Website | LINK |
|---|
Justlend is a peer to peer lending platform in tron ecosystem which gives users the power or permit users to lend tokens, borrow tokens and as well deposit tokens. Justlend make use of smart contracts like BTC, USDT, USDJ, TRX and WBTT.
| Justlend Website | LINK |
|---|
Sun.io is a platform used to swap stable coins on tron network, not just that, but the first platform used for swapping stable coins. It also helps in rising trom coin and serve as cryptocurrency on tron ecosystem.
| Sun.io Website | LINK |
|---|
I will show step by step on how you can optimize mining through the means of staking tron. But you will need to install tronlink pro in your mobile device.
FIRST STEP
Download and install tronlink wallet on your mobile phone. See screenshot below.. I have already done mine. So we good to go.
SECOND STEP
Search on sun.io using any of your browser like chrome. When the site opens, you will be asked to connect your tronlink wallet to it, by doing that, you can be able to swap tokens and also stake. How to do that, you have to click on "Connect" them, tronlink wallet will pop up, clivk on it.
THIRD STEP
After clicking on tronlink wallet, and after connecting, you have to click on stake, by doing that your reward can be optimize by the mean of staking.
PLEASE NOTE÷ ALL SCREENSHOT WAS GOTTEN FROM SUN.IO
CONCLUSION
The lecture about Tron ecosytem was well detailed and i was able to understand a lot from it and answered the question according to my understanding. I really appreciate professor @sapwood for a nice lecture.
Thanks for reading