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

Just Swap gives the possibility of blocking cryptocurrencies in order to mint them so that a high market volume develops. However, to market these cryptos it is necessary that they be part of the tokens admitted in the platform which would be TRC10, TRC20 and TRX. Thus, the characteristics and uses of the exchange are supported to also lend and extract the desired tokens.

Thus, the platform allows the interaction between TCR10 - TRC20 as well as the TRX token so that users who are in TRON have access from anywhere in the world. Now, in order to understand these supported tokens more clearly we can define the TRC20 as the necessary protocol to use USDT TRON, so that it means the use of the standard currency issued and based on the TRON network.

However, the corresponding amount to be received must be taken into account, so that statistically the volume of sales, the price, the liquidity commissions and the slippage are presented.

On the other hand, JustSwap allows us to make changes in the lists of cryptocurrencies that they have, which may well be with the default list or the alliance list that Tron has. In addition to being able to submit our list.

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For the latter, in order to add our own list, we have to create an issue on the open source platform Github with the specifications mentioned. In addition to following the specifications of a JSON file, such as the example below.

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This issue may be reviewed by different developers of the JustSwap platform for approval.

In the following image we can see an example of an issue created by KiwiDefi to be able to add a list of tokens in particular:

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The determination of the price on this platform is based on a simple formula provided by the smart-contract, as explained by the professor, where the importance lies in “the relative numbers of tokens in each group of funds” as explained by the founder of Just Swap, Justin Sun. Therefore, only the two tokens in question must be multiplied in such a way as to result in a constant.

let Const. = Constant.

A * B = Const.

A = Token A, B = Token B

That said, in each operation that is carried out, an updated balance is obtained as a final sample since, due to the exchanges made, a certain amount of a token is lost while it is earned from another token, so that the price is changed when updating the new balance calculated.

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So you can see the handling of this formula in the previous screenshot where it is Token A: LTC, and Token B: TRX. By dividing the amount of LTC you want to exchange by the constant Const., you get the amount of 10,303 TRX as part of the new balance.

Finally, the payment of commissions should be taken into account because when carrying out a transaction, for example of a token for TRC20, it will be necessary to pay a fee of 0.3% of the token in question, if instead an exchange of TRC20 is planned to some specific token, the required fee will be 0.3% of TRC20, so it is based on a commission for the liquidity provider, who can withdraw their fund at any time they want.

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

At the time of writing this article, I did not have the TronLink wallet, so I decided to install it using a Google Chrome extension.

To do this, we look for TronLink in the chrome web store and we click the install button. Then add an extension and we create a new user.

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Then we enter the JustSwap platform at JustSwap, and we search and click on Connect to Wallet, on the left side above the different options that the JustSwap menu brings us. Then a modal will open to us to choose the option to connect the TronLink Wallet.

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In that, the option of our wallet in TronLink will open to connect it to Just Swap. Just click on connect. And finally we will have our TronLink wallet connected to JustSwap.

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Likewise, we can find the TronLink wallet in the PlayStore so that it is only necessary to download the application to be able to carry out the connection with Just Swap.

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Therefore, it is only necessary to import the wallet that you already have in TronLink or if you do not have one, create it following a procedure similar to creating an account in the desktop version, so that it is finally connected to the Just Swap platform.

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Include a real example of your interaction with Just Swap, demonstrate how you can trade on the platform

Within the JustSwap platform, the first thing we can see is the amount of blocked assets and the “Swap” and “Pool” options. In this case we are going to choose the default option which is "Swap".

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We are going to make a swap of TRX - USDT, then in the TRX field we enter the amount, which will be 60 TRX, then it will show us the value of the change that is equivalent to 6.245876 USDT and we click on Swap.

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Then a modal appears with the summarized information, and when we click on Confirm Swap, the option will open in TronLink to validate the transaction and confirm. And in this way we managed to exchange 60 TRX for USDT.

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On the other hand, if we want to make a cryptocurrency exchange, if we use an asset for the first time, we have to approve it and enable its use in our TronLink wallet. For example, if we want to change the USDT that we exchange for LTC, since it is the first time that we are going to use USDT from our wallet as an asset that we want to change, the first step will come to approve it and then make the swap as mentioned above.

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Include a real example of your interaction with Just Swap, explain How to add liquidity to JustSwap

Now we are going to add liquidity, for this we choose the "Pool" option and click on the Add Liquidity button.

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This will open the following interface, where we have to place if or if an amount of TRX and then the equivalent amount in the cryptocurrency that we want to add for liquidity.

For this example we will use Litecoin (LTC). Then we just have to click on the Supply option.

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Then the modal will be opened to confirm.

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Finally I have added 4 TRX and 0.00232237 LTC ​​of liquidity in JustSwap, and for each transaction that is made with said amount of liquidity added, I will receive a + 0.3% profit as a reward.

Conclusions

As I had already mentioned, JustSwap is part of the three products of Tron's JUST DeFI project, and its contribution to the TRX ecosystem is quite important, since it is a response to the controversy generated by the criticism that Tron had become very centralized and had lost its vision, according to Lucien Chen, CTO and co-founder who resigned from his position in May 2019. Therefore, in my opinion, the success of this platform together with the two products that accompany it, also means the success that can achieve TRON goals over time.

The ease of the platform to carry out the desired transactions is remarkable, since being a decentralized exchange that is easy to use, it allows to devise automatic markets created in the TRON network, in such a way that it becomes one of the most important projects today, therefore It is not surprising the strong publicity created by its founder in the early days of the platform, which has allowed a high market volume in said exchange, setting aside the infinite liquidity created.

In addition, Just Swap is an attractive platform in which, thanks to what we saw this week at the Crypto Academy, it could take advantage of blocking assets to generate commissions, and be aware of the next projects that the ecosystem may bring us in the future by TRON.

This is my Homework Post for JustSwap || Crypto Academy S4W5 || Professor @kouba01

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