Crypto Academy / season 4 week 5 - Homework Post For [@kouba01]-Just Swap

Hello everyone once again hope you all are fine and safe. Today i attend one more lecture given by @kouba01 in which i learn about just swap, Now i am going to submit my homework post for this lecture. Lets start

Present the Just Swap platform in your own way, demonstrating its importance within the Tron ecosystem blockchain.

In crypto world first centralized exchanges make their position and got famous. But due to some disadvantages like security, privacy and many more things, people demands new things in crypto with good futures so we got decentralized exchanges like uniswap , pancakeswap and many more and defi . These excahges got popularity within a small time as they has vary advantages over centralized exchanges. In this within no time we see gas fees on etherium blockchain raises and raises continues. To overcome this problem tron blockchain launches its first decentralized exchange in the form of Justswap.

Justswap is a decentralized exchange lanunced by justin sun in 2020 based on tron blockchain. JustSwap supports the instant exchange of trc20 tokens each other that means here we can exchange Trc 20 with another trc 20 token. Example of this exchange is trx and usdt, jst and usdt, trx and jst , and many more. Here the fee is vary less also this exchange of coins takes place within no time. Also like centralized where for exchange we need the order matching and then our exchange is possible here it didn't need any order matching. Besides providing low fees and quick swap Justswap gives all the fees generated from swaps to liquidity provides and the protocal didn't get anything . Here you can earn rewards by providing liquidity. Also mining is good way of earning rewards on JustSwap. These things make this system a fully decentralized system. Also Justswap has unlimited liquidity.

Now we will talk about its fees for each swap. Justswap takes 0.3% trading fees that means when ever you make a swap you have to pay 0.3% of your swap to Justswap and this fees goes into the wallets of liquidity providers. This doesn't cut any more fees than this. Also if you are listing any coin pairs here no fees is required for this also.

The above features makes this system beneficial to traders. Also this system got lot of popularity in Crypto worlds. After this lot of new projects defi projets get launched. Also main thing is that JustSwap puts tron system into defi world.

Features of JustSwap

• JustSwap provides instant swap of two Trc 20 token.

• JustSwap provides unlimited liquidity to traders and projects.

• JustSwap didn't need any matching orders and allows instant exchange.

• JustSwap has less fee and that goes to liquidity provides.

Importance of Justswap within the Tron ecosystem blockchain.

After the launch of Justswap tron blockchain makes its presence in defi and got its own dex where traders can swap their tokens.As traders are not able to acces Justswap without tron blockchain. This brings huge interaction of traders with the tron blockchain and makes tron blockchain grow to new heights. Also after the launch of Justswap tron ecosystem got lot of new apllications, new use cases, new games and many more. JustSwap puts attendance of people on tron also as they offering rewards to the long term holder's of tron. This things increases tron popularity. Justswap is vary easy to use in tron ecosystem as it does not need any high verification for opening it just like other exchanges users have to just connect it to Tronlink wallet. Also here no third party associated with swap so it has high security. Justswap provudes unlimited liquidity to tron ecosystem. As i tell if you provide liquidity you will get rewards for that. As Justswap provides instant exchange of trc 20 tokens for traders and creates a free threshold of profit for market makers. In short JustSwap gives lot of new things to tron ecosystem.

What tokens does JustSwap support trading? How is the price of a JustSwap token determined (how it works)? Use an illustration to explain it.(screenshot required)

On JustSwap users can excahge Trc20 with trx or vice versa. Mainly JustSwap supports most of the tokens developed over tron blockchain. Besides these tokens Justswap supports major coins like btc,usdt and many more. According to CoinMarketCap there are 31 assets which users can swap on JustSwap platform. These include:

Tether
Just
Winklink
Bitcoin Trc20
USDJ
Lumi credits
888tron
Daisy launch pad
DEFFECT
Kleven
Zoe cash
Safe money
King of defi
Tai carrot
Ume token

You can see the rest coins from the figure below.

Source

According to Coingecko there are some verified as well as tickers that we can swap of just swap. According to this there is total 44 assets and 265 available. In which 41 sis verified and three are unverified.

Sorce of above pictures

Price determination in Justswap

On Justswap price is determined by the number of tockens in each pool. The smart contract maintains a constant function. This means that the net value remains same. Here are two assets when one increases other one decreases respectively and the final value remains constant all time. See the below equation

X*Y=K

Where X is token one
Y is token two
And K is constant that means its value will remain constant all time and didn't change.

Whenever any swap happens on JustSwap it replaces some tokens with a certain number of other tokens and final k remains constant. After that balancing of tokens is done and price change takes place. In centralized exchange there if you wany any exchange your order have to match with the others order then your exchange will happen but in case of decentralized users trade with liquidity pool where we make quick exchange. During this both the trader as well as liquidity provider gets beneficail. Demand will directly affect the price of any asset.

How do I connect my wallet to JustSwap.io? Is there a mobile app? (Screenshots needed)

As Justswap is a dex and has no its application so we cannot connect it from its apllication . we can access this by two ways either by TronLink pro wallet or by web browser. By asses through web browser it needs extension and is a long process while connecting through TronLink pro wallet is easy and simple for everyone. So i am going to connect it through TronLink apllication.

• First download TronLink pro application from playstore.

• Open The TronLink pro application.

• Make your account or import to your wallet if already have an wallet. Save keys.

• Click on discover tab in the botton of the main page.

• Now on the next page you can see many options click on Justswap.

• After opening Justswap click on options tab on the top right side.

• You can see your tron account is automatically connected with Justswap.

There is another way of connecting Justswap to wallet. Which is by using any browser. This needs a desktop. Where you have to first visit justswap. Io and then click on connect wallet option and you have to put extension to tron wallet then it will get connected to your wallet. This i can't done on my phone.

Justswap platform has no application, as they have not released any application till now. You can find it on Decentralized wallet like Tronlink pro where Justswap is present and you can use it by connecting it to tron wallet. So if you are going to find any app for Justswap you will get nothing.

Include a real example of your interaction with Just Swap, demonstrate how you can trade on the platform. (screenshots required)

After connecting wallet to justswap by above process you can easily swap one trc20 to other trc20 token with less fee. For swap any coins you should have enough energy or bathwidth and also amount you want to swap. I am going to swap trx to Jst token. Lets see step by step swap of trx into jst token.

• First you need to connect your wallet to JustSwap.

• Then select the tokens which you want to swap. As i select trx in first and jst in second one.

• Now type the amount of trx you want to swap in jst. I am going to swap 25 trx to jst token.

• you can see how much tokens of jst you will get.

• Now click on swap tab at the bottom.

• Now click on confirm tab.

• Now sign in to complete this trancation.

• Then write your password for final vetification.

• You will get notification of your complete swap like this.

You can see from the above this swap needs a vary small fee for liquidity provider. Also this swap needs some Bandwidth that generates automatically on TronLink wallet. If you have not enough bandwidth then this swap may burn some of your trx tockens.

Include a real example of your interaction with Just Swap, explain How to add liquidity to JustSwap. (screenshot required)

As already tell you that in Justswap it takes a small fee for every swap and this fee goes into the wallets of liquidity providers. By providing liquidity users can ger rewards. . For providing liquidity in Justswap you need two trc 20 tokens , that means if you want to provide liquidity in one token then you must need to provide same amount of liquidity in second trc 20 token. I have trx and nft in my wallet, so i am going to provide liquidity of trx anf NFt combination.Lets see how to add liquidity to Justswap

• First you need to connect your wallet to Justswap.

• click on pool tab.

• now Click on add liquidity option.

• Select the token combination you want to provide liquidity. As i am providing liquidity of Trx and Nft token.

• Type the amount.

• Click on supply tab.

• Now confirm the transaction by conforming supply and write your password.

• you can see i have provided liquidity of trx and nft combination.

• You will get notification like below.

Conclusion

Justswap is tron based decentralized exchange platform. Justswap brings tron blockchain in the field of defi and makes tron platform famious and brings lot of new things to tron ecosystem. On Justswap traders can swap their Trc 20 tokens to other Trc 20 tokens. For every swap JustSwap takes a small fee and provides a swap instantly, the fee goes into the wallets of liquidity providers. So if you provide liquidity you will get rewards based on how much liquidity you have provided. Also JustSwap is vary easy to acces a new trader can easy work on it.

THANKS FOR READING.