Crypto Academy Week 15 - Homework Post for @sapwood

Wallet used:

TGZ3ZiZ5GYo742XUjtuM91uXhKgiVbxYQd

INTRODUCTION

The topic of decentralized finance cannot be exhausted in a day. The whole concept has achieved a lot that was once impossible in the financial world.

Learning about DeFi products for the past few weeks has been really enlightening. This week’s lesson is on Tron’s sun.io platform. I have understood the lesson and I would get into the the tasks given.

1. How to connect TronLink wallet to sun.io

Step 1
After launching the TronLink app, click on the Browser option at the bottom.

Step 2
Search sun.io in the search bar.

Step 3
The homepage comes up. Click on the corresponding menu button at the top right.

Step 4
The wallet is automatically linked and the address is displayed.

2A. The different liquidity mining pools

There are currently 9 different liquidity mining pools which are:

• USDT-TRX
• USDJ-TRX
• TUSD-TRX
• SUNOLD-TRX
• WBTT-TRX
• JST-TRX
• BTC-TRX
• ETH-TRX
• WIN-TRX

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2B. Which offers the highest APY?

SUNOLD-TRX LP offers the highest APY at 35.73%.

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2C. Different rewards gotten from staking LP tokens

Currently, there are six rewards gotten from staking LP tokens on sun.io. A picture of the list is shown below:

3A. How to obtain LP tokens by adding liquidity in JustSwap

Step 1
Search justwap.org in the browser of TronLink

Step 2
Select the Pool tab and click Add Liquidity.

Step 3
Select 2nd input token. I chose USDT. Then input an amount of TRX. The equivalent reflects on the USDT. Click Supply.

Step 4
Confirm the supply.

Step 5
Some authorization tips come up. I chose Fast mode.

Step 6
Click Confirm.

Step 7
Input password and click Done.

Step 8
Liquidity is added. That’s it! Click Close.

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3B. Quantity of LP tokens obtained

I received 5.918917 LP tokens

Hash: 1032998a4a926f069704c9baf90b575f1a784ffd5a6399a76ebd835982523ee7

4. How to stake LP tokens to earn 5 different tokens on sun.io

Step 1
On the sun.io home screen, click on the corresponding menu button on the top right.

Step 2
Select Century Mining.

Step 3
Select a mining pool. In this case I selected USDT-TRX LP

Step 4
Click Approve

Step 5
Confirm the transaction.

Step 6
Select the amount of LP tokens to be staked. I chose max.

Step 7
The transaction is completed shortly after and the tokens are staked.

Step 8
To view the tokens that can be earned, select the Claim tab.

Notice that there are 6 different coins that can be rewarded instead of 5.

5A. Which reward can be withdrawn anytime

Still under the “Claim” tab, notice that SUNOLD is always available to be claimed.

SUNOLD can be withdrawn anytime.
From the picture we can still see that SUN can be frozen. This shows that some SUN can be withdrawn immediately while some follow the normal 24 weeks routine.

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5B. How to claim the SUNOLD rewards

Step 1
Return anytime, any day to the Century Mining screen. Locate the Liquidity pool.

Step 2
Click on Details beside Mining Rewards.

Step 3
Click on Claim as indicated below.

Step 4
Click on Confirm

Step 5
Input password and click Done.

Step 6
The transaction is submitted and that’s it!

6A. Schedule of unlocking the mining rewards

Mining rewards are normally frozen and take a total of 24 weeks (6 months) to be completely withdrawn. The rewards are normally withdrawn every week until the 24th week when they are all withdrawn.

Upcoming rewards

These are the frozen rewards that are up for withdraw in a 7 day period.

Frozen rewards

This are the total rewards that are available. Typically, what a person expects to get after 24 weeks of rewards.

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6B. Total undistributed/distributed mining rewards

My total undistributed/distributed mining rewards is >$0.001

7. How a "stake"(in Sun.io) function consumes different "Energy & Bandwidth" than "obtaining LP token" (in Justswap)?

I have included examples of obtaining LP tokens and Staking in tasks 2 and 3 respectively.

Stake function Energy and bandwidth.

Obtaining LP token energy and bandwidth

Parameter	Staking	Obtaining
Bandwidth	313	383
Energy	89, 516	60, 902

From the table, it is clear that obtaining LP tokens consumes more bandwidth than a stake function. On the other hand, a stake function consumes energy that obtaining LP tokens.

8. How to unstake LP token and claim mining rewards

Step 1
Still under the Century Mining menu, click on Manage

Step 2
Select the Claim tab, click on Max and click on Claim and Unstake.

Step 3
Click on Confirm

Step 4
Input password and click Done

Step 5
And we’re done. A notification is sent shortly.

CONCLUSION

DeFi is a blessing to people everywhere. With all the projects active today, we still have not scratched the surface of blockchain in finance. Sun.io and other Tron services have been really helpful with their low costs and high speed. DeFi is still in its early stage but we’ve come really far.

Special thanks to @sapwood