Hello Steemians,

This is my submission for the Steemit Crypto Academy task by professor @kouba01 and this week its about the JustSwap platform. Its such an interesting topic and here in this post, I am sharing my homework post for the same.

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

JustSwap is an exchange protocol that runs on the TRON ecosystem. It allows us to convert any 2 TRC20 tokens on its platform. Its a decentralized platform and no order book means anything that we swap to get executed instantly. Since there is no order book so we cant place orders for different prices and all the conversions happen at the price available in the system. All the fee collected by the trading gets distributed between the liquidity providers. Just swap is a decentralized DeFi platform on the tron ecosystem and was introduced with the USDJ and Justwrapper tokens that are stable coins to mitigate against asset price fluctuations. It was launched in Aug 2020 and within this period it has good attention from the people and now it has a huge number of people using the platform and this is capable to execute transactions for high liquidity.

Just swap follows the function of X*Y=K that helps to determine the asset price as per liquidity availability in the pool. This is useful and works to maintain the balance between the traders and liquidity providers. Basically, this balance works as a measure to maintain liquidity and profitability between traders and liquidity providers so that there is no lack of liquidity on the platform. It charges a trading fee of 0.3% for swapping of TRC 20 tokens and this fee goes to people who provide liquidity on the platform.

There is no need to create an account and this entire portal works with tron link wallet which is a decentralized wallet and this is a browser extension as well as a mobile app but I prefer to use the extension as its easy to use on the computer.

Some important Functions of Just Swap-

• No Account sign-up required and all the transactions are done with TronLink wallet which is easy to use and safe and decentralized.
• Tronlink wallet is available on major browser extensions as well as a mobile app and Justswap can be accessed both ways.
• Various tokens available for swap on Justswap including- TRX, BTT, USDT, USDC, TUSD, JST, LTC, and ETH, etc
• Each transaction is verified through the tron link so the system is secure enough as we know what transaction we are processing before authentication.
• Website is easy to use and we get SWAP and POOl options on the home page itself and its so easy and fast to use both the options.

JustSwap in Tron Ecosystem

Tron is a growing blockchain because of its instant transaction processing, low fee, and scalability and now Justswap has become one of the important parts in its ecosystem. Just swap brings a variety of services to the tron and helps the tron ecosystem to be more profitable and vast.

1- Liquidity With Justswap we can provide liquidity and earn decent returns in our tron holding. Keeping tron idle in a wallet does not earn anything but with Justswap we can earn well by providing liquidity. Just swap has provided unlimited liquidity so this is a way to add more value to the tron platform.

2-Secure Operation Since Justswap has adopted the tron network and operates only with the tron link wallet so there is no way that it can be accessed other than the wallet. Since all this happens in the decentralized environment so security is always there and only the person holding the wallet key can operate on justswap.

3-Decentralization- Now when people prefer more of the decentralized network in DeFi then just have provided this option on the tron ecosystem and there is no involvement of any centralized authority. Because of the decentralized nature, we can perform any transaction without any approval from anyone that means we always have the freedom to perform the transactions anytime as per our choice and preference.
4-Better Tron Accessibility and Profitability- we'll just have we always have the option to stake our tron tokens and earn but that's not all. It has also provided us to a type option which we can use to convert wine from one to another with ease and that too at a reasonable fee. All the transactions get processed within seconds which we can see that it's instant and no need to wait for any confirmation of the transactions like we do in other protocols.

2. 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)

JustSwap supports a bunch of coins that we can use on the platform for swapping. It supports almost every coin available on the tron ecosystem along with the majority used stable coins and even leading coins like BitCoin and ethereum. The list for supported quiet it's quite long and I don't think that anyone will face the problem because we can get all the leading coins on this platform. Below is the snapshot of the list for supported coins which shows that the list is quite vast for supported tokens.

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How is the price of a JustSwap token determined (how it works)?

This JustSwap platform works with constant function which works to manage the balance between liquidity and distribution of tokens in the whole ecosystem.

This JustSwap uses the function X * Y = K to ensure the accuracy and validity of its transactions.

X: acts as the first token
Y: is the second token
K: is a constant

Here first and second tokens are chosen by the trader as a pair and the third one K is constant.

x × y = k

Here is the illustration that helps it to understand better-

Since K is constant and changes can only happen with X and Y so in the situation where volume for X increases in the pool the value for Y will decrease in the pool as well. This can happen in reverse order as well. Whenever any trade is made then a few of 0.3% which is deducted from the order goes to the liquidity providers. This is a fee charged from traders and given to providers.

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

We need to use TronLink wallet to connect with JustSwap.io and there are two ways that we can follow

• 1- Tronlink Browser extension
• 2- Mobile app

Visit https://www.tronlink.org/ to download the app or extension as per your preference. Here I will use a chrome browser extention on my computer.

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Open https://justswap.io/ and click on Connect to wallet button provided at the left top of the page.

Once I clicked on Connect wallet button then it ask me to select the wallet and just in case you still have not installed the tron link wallet then you get the link here to install it proceed further. Since I have already installed the same so I selected the wallet.

After wallet selection, it asked to unlock the wallet by providing a password and then click on the continue button. Even though I use it in my PC but its advised to keep it in lock mode if not using for more safety.

After unlocking the wallet its not connected to just swap and my tron wallet address is shown at the top left side on the page and even I can see my TRX balance.

Connecting the wallet is very easy to process it hardly takes a minute time and its all work so fast as well. Now I am all set to perform the transaction on justswap.

Like I mentioned about the app, yes its available and even on both Android and iOS platforms so if you are using an android or iOS mobile device then it has an app for you.

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

I am going to SWAP TRX to USDT and below are steps that have been followed.

• I selected 2 USD in the 'TO' filed and it showed me the equivalent TRX amount that I need to spend for this swap. Its also showing the fee of 0.058 TRX toward the LP fee.

• Another window showing the trade details and we can verify before we confirm the swap.

• Now I need to sign the transaction using the Sign button on the tron link wallet as it has triggered a smart contract to perform the transaction. Here I need to pay a 5.65 TRX fee for the smart contract as shown.

• This transaction is now submitted and in-process and within few seconds I will get USDT in my wallet.

• Transaction is successful now and I have 2 USDT in my wallet. Here is the snapshot of the credit of 2 USDT.

This entire process is easy and it took about 1 minute time to completed the trade so you can see how fast this all works on Just swap.

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

Below steps are followed to add liquidity in Justswap

• Select the pool option on the homepage after wallet connect.
• Click on Add Liquidity button
• Choose the pair that we want to use for example I have chosen USDT along with TRX. We can choose only one coin and TRX is a must with the pair.
• I did with 5 TRX and equivalent USDT which is 0.5133
• Now I need to approve the contract first as I never did this before. Its a one-time process.
• Transaction validation using tron link wallet.

• I have approved the contract and its one time for any pool.

• Here its showing the rate and my share in the pool with this liquidity and I will get 6.81 Pool tokens for this transaction.

• I need to sign the transaction now that I did.

• After signing the transaction liquidity is added and the transaction is getting confirmed on the chain.

• I can see my pool token balance and pool share along with the option to add or remove liquidity.

*. There is also an option to see pool information and here is what its showing-

We can see some of the information here like-

• Total Liquidity in the pool with the percentage of increase
• Volume in 24 hours
• Transactions in 24 hours
• Pooled tokens in TRX and USDT
• My transaction is also shown at the bottom of the page.

6. Conclusion:

I have been using justswap since the launch of the platform for TRC 20 token swap and its a well-known platform for me. Although I never provided liquidy which I have done now after going through the lesson. Even though I was using the platform but also I learned a lot about the platform and its very useful. We earn tron token on steem and its very important for us to know about JustSwap so that we can make the most out of it.

In this lesson, learning about the justswap platform is very useful, and trying hands with liquidity is great learning for me. There is a lot to learn and explore in crypto and this lesson has certainly helped me learn and explore more about justswap and helped me to enhance my knowledge.

It was such a great experience to learn more about the Justswap protocol and thanks to the amazing professor @kouba01 for giving this opportunity and I enjoyed it thoroughly.

Thank you so much

Thanks again to professor @kouba01 for this great lesson.