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RE: Crypto Academy Week 11 - Homework Post for @sapwood Justlend [ESP]

in SteemitCryptoAcademy5 years ago

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

Unfortunately the transaction has failed, the notification does not say exactly why but it gives 3 options, a possible internet error, a system time error, and the third option of the error are 3 more options that would be insufficient balance, insufficient bandwidth or insufficient power.

That failed because of insufficient balance. See, in your case, you have chosen to supply the max amount you have. But you should remember that every smart-contract-operated transaction will cost you some fees in TRX. So you must have a few TRX to spare to accommodate the fees.

To acquire the JTokens I must allow the platform to use my TRX as collateral.

No.

Go back to the "Smart contract trigger" when you supplied TRX to the Supply Pool, before you sign the transaction, read the "function" which clearly said-- mint function. That does mean that when you supply TRX to the pool, you literally mint jTRX tokens(as you supplied TRX). So even without it being collateralized, you have your jTRX tokens right there in your wallet.

They have granted us 10 USDT, the net APY is 3.97%, the risk is 43.33%

That's correct. Risk value is on the safer side, but always pay attention to the volatility, extreme price movement, if any, and accordingly calibrate your position.

Feedback/Suggestions:-

  • The author has demonstrated with a real example-- he has supplied 250 TRX to the Supply Pool to earn supply APY and borrowed 10 USDT. The net APY is 3.97%.
  • The author has included all the relevant screenshots required to explain.

Thank you.


Homework Task -3 accomplished.
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thank you very much for the observation professor

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