DESIGNED WITH CANVA
Hello fellow steemians, I hope you are all safe and well. It is a pleasure to participate in this contest. Which is learning about crypto at large.
I will like to appreciate what the professor @sapwood is doing. I mean in terms of his effort or contribution to the community.
Here are the questions being asked
"1.WHAT ARE THE DIFFERENT DAPPS IN THE TRON ECOSYSTEM ARE YOU FAMILIAR WITH?
2.WHAT ARE THE USES OF DEFI APPLICATIONS LIKE JUSTSWAP, JUSTLEND, AND SUN.IO?
3.HOW CAN YOU OPTIMIZE MINING REWARDS BY STAKING TRX AND OTHER TRC20 TOKENS IN SUN.IO. EXAMPLES?
With this, i think i will be tackling the questions one after another.
QUESTION 1
What are the different dApps in the Tron ecosystem are you familiar with?
So dApps is the abbreviation for Decentralized applications (dApps). Which can be explained as a digital applications or programs that exist or lives and run on a blockchain or peer-to-peer which is a (P2P) network of a computer instead of existing on a single computer. It can be simply put as an application that runs on the blockchain.
Moving on, the Tron ecosystem has about 1400 dApps on it. Steemit, wink,trontrade,luminous and many others are some examples of dApps.
To be honest i am more familiar with Steemit dApp. Beside, for the contest sake i will like to talk a bit about steemit.
STEEMIT
Steemit is a decentralized social media platform based on steem blockchain. It rewards its users with a cryptocurrency. The steemit community rewards it users with the cryptocurrency called STEEM, TRX and SBD. It was originally founded by Ned Scott and Dan Larimer in July 2016.
Steemit was acquired by Tron on the 14th of February 2020 which now makes it a dApp on the Tron ecosystem.
https://images.app.goo.gl/jewMRJwMK8VkRMmp6
Wink is a decentralized application based on the Tron ecosystem which deals with games, gambling, and a lot of other sports-related activities.
https://images.app.goo.gl/F5zWKCCYRnCPKKUB9
TRONTRADE
Trontrade is a decentralized exchange on the TRON network where users can buy and sell TRC tokens with ease. It is an avenue for buying and selling trc tokens at it easiest and best way.
https://images.app.goo.gl/o3LM4nXqvkNFqCm48
QUESTION 2
What are the uses of DeFi applications like Justswap, JustLend, and Sun.io?
Justswap
Justswap is a decentralized token exchange protocol application based on the Tron blockchain which is mainly used for trading TRC20 tokens.
*MY ACCOUNT BALANCE *
Justswap is simply used for swapping or exchanging one trc20 token to another.
JustLend
JustLend is a decentralized app on Tron blockchain which is the first lending and borrowing app that allows users to borrow assets or lend in other to earn interest, or to achieve their financial goal.
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)screenshots from http://www.justlend.org
Sun.oi
Sun.oi also being a decentralized app on Tron blockchain is used in the swap of stablecoins, staking, and self-governance. Holders of sun token earn rewards through staking and are also rewarded with various rights on the platform such as the right to vote, value capture, etc. Also it very similar to justswap.
QUESTION 3
How can you optimize mining rewards by staking TRX and other TRC20 tokens in Sun.io? Examples?
To do that, you will have to log into sun.io and connect it to your tronlink pro wallet.
After you have been to connected sun.io with your Tronlink pro wallet as seen above. You then proceed to stake on sun.io
Among the various options, click on stake and it will show the interface where you can choose either stake or stake and lock.
When you just stake, you can withdraw at any moment that you wish to but when you lock and stake, you will only be allowed to withdraw at the agreed time of stake which is either 6 months, 1 year, 2 years, 3 years, or 4 years, depending on the agreed time. Also if you stake for a longer locked period the higher the returns you get and vice versa.
The return or profit of tge APY of staking is much lesser than that of locking just as seen above because one can withdraw one's assets at any time, that is with the APY. But it isn't like that with the locking and users with locked assets also enjoy some voting rights.
In conclusion, i would like to say that the tron ecosystem teaches us who the founder of tron is, when it was discovered and what it is about. The tron ecosystem covers almost every aspect of life, such as finance, entertainment, education, socials and alot more.
Also some of the major features of the tronlink pro makes it much easier for users to have access, explore and use the some the of various DApps on Tron ecosystem.
My special regards to professor @Sapwood for such a wonderful course.