Edited with canva

INTRODUCTION

Hello everyone, it is my pleasure to be participating in the Week 5 of Season 4 advanced homework presented by professor @kouba01. I will be exploring the JustSwap exchange protocol. Consequently, I will be discussing its importance in the Tron ecosystem.

Also, I will be showing the tokens supported for trading on the platform and how the price of the JustSwap token is determined with an illustration. Furthermore, I will be showing how to connect your wallet to JustSwap.io. Again, I will be indicating how to trade on the platform and, finally, demonstrate how to provide liquidity on the platform.

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

JustSwap is a protocol for exchange of tokens which was launched on the Tron network as the very first decentralized platform where users can instantly swap their coins between any TRC-20 supported tokens. Such users can decide to provide liquidity to the platform and earn some amount of returns in the form of trading fees. Usually, these users who are known as liquidity providers are not charged any commissions. JustSwap promises such features as generous returns, convenience, unlimited liquidity, instant token swaps, openness and a very transparent financial system which is based on digital assets. Interestingly, this flagship product has been reported by Justin Sun as the major product whose use case works in making the world of DeFi a surmountable and interesting challenge to the TRON strategy.

This is to say that it is a use case that has encouraged the entire Tron community to go all in for whatever the world of the DeFi has in stock. The JustSwap platform has been said to be the major route through which a lot of traffic is channelled into the TRON DeFi ecosystem and as at the 15th of June it was discovered that the total liquidity that has been provided on the JustSwap platform had reached more than $861 million and the platform also had a 7-day trading volume which was more than $405 million. Recently, the two important flagship use cases of the Tron network which is JustLend and JustSwap had initiated a mining mode which involved 3 months long TRON Century Mining.

This century mining of the Tron network had gained so much attention from a lot of premium projects and equally garnered a lot of support from many of its users who bought into the idea. The idea behind the Century Mining is that once it has been concluded then the entire Sun.io ecosystem with equally houses the JustSwap platform would be able to benefit from a lot of diversified advantages such as higher returns on investment, low entry barriers to investment opportunities, premium mining facilities and low fees as well as zero commissions. Consequently, the Tron Foundation launched the liquidity mining project on their JustSwap platform to provide these advantages to users.

The concept behind the JustSwap platform is to keep up with the DeFi mining market which seems to be very much in the mix at the moment. So, the platform aims to provide long-term projects that cater to the use case of improved financial systems and new online or digital businesses. This would help in creating diversified financial systems that can boast of a lot of wealth locked up for users. So, the mining mode that was launched on the JustSwap platform was meant to extend the benefits derivable from growing the system. Real values have been pegged to its tokens and this makes it possible for users to earn good incomes when engaging in mining activities on the TRON network as presented by The JustSwap protocol.

Importance Of The JustSwap Platform To The Tron Ecosystem

It is noteworthy that the JustSwap platform has been reported by its creator Justin Sun as the major gateway through which a lot of DeFi traffic is drawn into the TRON ecosystem. However, apart from that, there are some other important roles the JustSwap platform play in the Tron ecosystem. Some of these include:

• The system makes it possible for users to exchange their assets between any supported TRC-20 tokens without any form of delays.
• The system makes it possible for market makers to gain a lot of profit from the system without any barriers or threshold to entry
• Through its liquidity providers platform the system is able to provide an unlimited amount of liquidity to drive the different crypto projects and crypto trading platforms that are being utilised by thousands of its traders in the ecosystem
• The fact that exchanges are done instantly without having to match any orders create a form of convenience desired in the DeFi ecosystem
• It offers a truly fair financial market place which is equally very open and quite available to anyone wishing to enter the Tron ecosystem
• The system is equally highly profitable and drugs users to the Tron ecosystem by offering them rewards in form of ongoing processing fees and they are not charged any commissions in return

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)

The JustSwap platform supports the trading of a number of tokens. These tokens can be used for swap functions or for providing or adding liquidity into the liquidity pools. There are in two groups: the JustSwap Default List and the Tron Alliance List.

The JustSwap Default List

Among the tokens included in the JustSwap Default List are:

• USDC
• SUN
• SUNOLD
• NFT
• BTC
• WBTC

• ETH
• WETH
• WBTT
• WTRX
• JST
• WIN

• DICE
• LIVE
• USDT
• USDJ
• TUSD
• LTC
• HT

The Tron Alliance List

Among the tokens listed on the JustSwap exchange as the Tron Alliance List include:

• WOK
• OSK
• LBOO
• SAFEMONEY
• SSK
• FC
• PEARL

And many others.

Determining A JustSwap Token

Usually, the price of a token in the JustSwap protocol would be determined by considering the total number of tokens in the pool. As a result, a constant function is used to maintain the smart contract of each pool. Hence, the formula for determining the variable prices of tokens in the JustSwap protocol is given by:

X*Y = K

Where:

X = First token
Y = Second token
K = A constant

So, each swap would be completed by using a certain number of one token to replace the other in order to rebalance the system and ensure liquidity at a constant rate. This means that the balance of each of the tokens would have to be updated correspondingly since K must always remain constant and unchanged. This is what normally leads to price changes and the disparity.

Illustration:-

To illustrate this I am going to calculator the value of K from the variables in the above image where it can be seen that:

100 TRX = 10.320295 USDJ

But X*Y = K

Then, let USDJ = X, and TRX = Y

So, K = 100 * 10.320295

= 9.689645

Therefore, K = 9.689645

I will now use this constant K to calculate the corresponding value of another token given the price of one of the token

From the image above I have input 200 TRX.

The equivalent USDJ token can be calculated with the constant in this manner:

X*Y = K

Let TRX = Y, and USDJ = X

But TRX = 200, and K = 9.689645

So, USDJ = 200/9.689645

= 20.64059 (this value corresponds with that shown in the screenshot).

3. How do I connect my wallet to JustSwap.io?

In order for me to interact with the JustSwap decentralized exchange, it became necessary that I sign up for a blockchain based Tron wallet. Since I have been using the TronLink wallet for some time and understand its functionalities I decided to explore it for this section.

• So, in order to connect tronlink wallet today just to swap platform I visited the translink website
• While on the site I choose Android as my preferred operating system
• Then, I choose the Chrome web based extension, downloaded the plugin and then created a wallet account in the TronLink wallet

To link my TronLink wallet to the JustSwap platform, I:

• Visited the JustSwap official website and clicked on connect wallet as shown below

• I selected TronLink wallet as the available blockchain-based Tron wallet

• I was required to connect the wallet by using the chrome web extension plugin for verification

• From the image below you can see that I have successfully connected my TronLink wallet to the JustSwap decentralized exchange and its balance is displayed along with it

Is there a mobile app? (Screenshots needed)

Actually, there is no mobile application for connecting a wallet to the JustSwap exchange. Nevertheless, mobile users can access the platform from the TronLink wallet mobile app.

• From the Discover section shown below you can locate JustSwap as a DApp:

• By clicking on this application you would be redirected to the JustSwap Dex.

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 be demonstrating how to trade on the JustSwap platform by performing a swap function. This actually requires some TRX balance on my wallet which must have, first, been linked to the exchange.

• To perform the trade or swap function I visited the JustSwap website and clicked on swap as shown below

• With TRX as the base token, I had to select the other TRC-20 token I would want to swap to

• I selected USDJ as the other token

• Next, I input 10 USDJ which equated to 109.35 TRX and clicked swap to proceed

• After, I was required to confirm swap and a minimal transaction fee was charged

• Next, I had to sign the transaction with my wallet

• Finally, the transaction was completed and I clicked close

• As I have highlighted below, the 10 USDJ has been successfully obtained after the swap function.

This demonstrates how to trade on the JustSwap decentralized exchange.

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

In this section I am going to be describing how to add liquidity to the liquidity pool of the JustSwap platform. That would make me a liquidity provider and I would earn rewards from transaction fees on the platform.

To add liquid it to the platform, I:

• Visited the JustSwap website, clicked on pool and selected add liquidity

• Next, I was required to choose the pair which I would like to use in adding the liquidity. I had to select USDJ/TRX to supply the 10 USDJ I already had to the liquidity pool at a cost of 108.146388 TRX. After this, I clicked supply

• From the image below I had to click confirm supply to proceed. I would receive 171.162144 TRX/USDJ in the pool by so doing

• After that, I was required to sign the transaction with my TronLink wallet

• The image below shows that I have successfully added liquidity. I click close

• The liquidity I have added is displayed as your liquidity in the image below

CONCLUSION

The JustSwap decentralized exchange was launched as a protocol on the Tron network that gave its users the privilege and ability to swap TRC-20 related tokens instantly. Some of the promising features on the platform include a transparent and open financial services system that enables users to provide unlimited liquidity and earn transaction fees as liquidity providers as well as convenience in transactions.

According to the brain behind the initiative Justin Sun, the JustSwap platform has been the major gateway through which the outside world comes into the Tron DeFi ecosystem. One of the measures that had earlier been taken to further improve the system was the three-month long TRON Century Mining. Interestingly, the platform supports a good number of tokens and thereby gives users a lot of options.

You simply have to connect your Tron-based blockchain wallet to the JustSwap decentralized exchange in order to carry out swap transactions or provide liquidity to earn transaction fees as a liquidity provider.

(Unless otherwise indicated, all screenshots are taken from the JustSwap Decentralized Exchange)