Introduction
Hello Everyone
Today we are faced with another very good lesson. In this lecture, professor @sapwood explained Liquidity Mining in a very nice and detailed way. I am sharing my homework at the end of this lesson with you.
(1) How do I connect my TronLink Wallet to Sun.io?(Screenshots needed)
- First we go to https://sun.io/#/home.
- Next, we connect our TronLink wallet to Sun.io. (In previous lessons we created the TronLink wallet and saw how to connect our TronLink wallet.)
- Then we connect our TronLink wallet easily by saying Connect Wallet.
(2) What are the different liquidity mining pools? Which one offers the highest APY? How many different rewards do I get by staking LP token? (Screenshots needed)
- As seen in the screenshot, there are 9 different liquidity Mining pools. Among them, the SUN-TRX LP offers the highest APY. with 35.98%.
As we can see in the screenshot, we can win 5 different prizes by staking LP tokens. These are TRX, JST, WIN, SUN, BTT.
There is another new reward that is not visible in this screenshot, actually BTCST. If we count this, the prize we can win will be 6.
(3) How do I obtain LP Token by adding liquidity in Justswap? What is the quantity(Explore through your wallet/Tronscan)?(Screenshots needed)
- We're going to Justswap first. (#https://justswap.io/#/home)
- If your TronLink wallet is not connected then we connect it.
- Then we press the “pool” button. The “Add Liquidity” option will appear. We click this button.
- At this stage, we write a small amount (1 USDT) and press the "Supply" button.
- Then we accept TronLink wallet permissions.
- Our transaction has been confirmed and 13.995399 TRX + 1USDT is visible in the screenshot.
- As a result of this transaction, 1.003/13.9943 USDT/TRX Liqudity has been added and we have obtained 16.7436 S-USDT-TRX LP tokens.
Then we examine our transaction through Tronscan.
- As seen in the screenshot, 383 Bandwith and 60,902 Energy were consumed as a result of the operation we performed. Since the energy was not enough, 8.52614 TRX was burned for energy.
- As a result of the transaction, 13.995399 TRX and 1.000228 USDT Liqudity were obtained and 16.743695 S-USDT-TRX LP coins were obtained.
(4) How do I stake LP Token to earn five different tokens on Sun.io? (Screenshots needed)
- First, we go to https://sun.io/mining/?lang=en-US#/home.
- Then we click on the USDT-TRX LP mining pool option that I have acquired. The APY of the mining pool we chose is 4.27%.
- Then we confirm our wallet. I forgot to take a screenshot of this phase, so I'll show it from Tronscan.
- Then we select the "Claim" option from the screen that appears. There were 6 types of tokens that I could win here. BTCST has been added to our list.
- Then we come to the "Stake" option again. Then, if we want, we can enter the amount we set, or we can automatically enter all our USDT-TRX LP by pressing the “max” button. Then we press the "Stake" button and confirm our transaction.
(5) Which reward(out of five different rewards) can be withdrawn at any time? How do claim that (indicate that in the screenshot)?
- We can withdraw only the SUN token from the prizes we have won at any time. However, we can withdraw only 33% of this amount, not the whole amount, at any time. All remaining rewards can be withdrawn in 6 months (24 weeks).
We can do this from the "Claim" section we showed earlier.
- As seen in this screenshot, we can receive our rewards for 24 weeks. Awards are given on a weekly basis.
- We can claim our SUN token reward as seen in this screenshot. Then, when we click this button, we can get our reward by following the steps I have shown with the screenshots below.
Let's examine our process from Tronscan by clicking on the area I showed with the box.
(6) What is the schedule of unlocking the mining rewards? Indicate the total undistributed/distributed mining rewards in the screenshot?
- As we mentioned before, the rewards are unlocked in 24 weeks. Of these, we can only receive 33% of the SUN reward immediately. We have shown this in our transactions as well.
(7) Include the real example of your interaction with Justswap and Sun.io as required in this task? Indicate how a "stake"(in Sun.io) function consumes different "Energy & Bandwidth" than "obtaining LP token" (in Justswap)? You should add/remove a small amount of liquidity to obtain/redeem your LP token(as little as 1 USDT worth)? (Screenshots needed)
When we started to do our homework, we made a transaction of 1 USDT through JustSwap. Then we made transactions through Sun.io. Let's examine these processes now.
JustSwap “obtaining LP token”
On JustSwapte we already know the transaction we have taken before. If you don't remember, you can see it in the screenshots above. That's why I'm going to review the transaction directly on Tronscan.
- In this transaction, we obtained 16.743695 S-USDT-TRX LP Tokens from 13.995399 TRX + 1.000228 Liquidity transactions.
- We consumed 383 Bandwith and 60,902 Energy during this process. During this process, 8.52614 TRX was burned.
Sun.io “stake”
- In this process, 313 bandwith and 89.516 energy were consumed. 12.53168 TRX has been burned.
Now if we compare these operations:
| operation type | Bandwith | Energy |
|---|---|---|
| JustSwap (obtaining LP token ) | 383 | 60.902 |
| Sun.io (stake ) | 313 | 89.516 |
- As we can see in this comparison, obtaining LP token via JustSwap consumes less energy than Sun.io Stake, but consumes more Bandwith.
(8) How do I unstake LP token and claim mining rewards(Sun.io)?
- For this process, we first go to the https://sun.io/mining/?lang=en-US#/home page.
- Then we choose the LP pool we want to trade.
- Then we select the "Claim" button. Then we click on the “Max” button. Then we click on the "Claim-Unstake" button.
We give the necessary approvals and then our transaction is approved.
As a result of this transaction, the rewards from a total of 6 different coins will be transferred to my TronLink Wallet periodically over a 24-week period. Except for 33% of the SUN token. Because this 33% part is for claim before.
Conclusion
I love the professor's assignments that require us to act in this way. Because while doing homework, we automatically learn a lot of things. In this assignment, we learned how to "LP tokens obtining mining" and "Stake" in an important DeFi project like Sun.io.
Thank you in advance to everyone who reads my homework.
Also thank you professor @sapwood for this nice Lecture.
CC: @sapwood