Greetings crypto enthusiast, trust you are all good.. I'm @tayetaiwo and today I attended one of the advance lecture. Professor @fredquantum presented a class about Zethyr Finance. I'll be responding to the homework in today's post.
What is Zethyr Finance
Zethyr Finance is a DeFi protocol , like JustSwap, that is built on the tron blockchain. The Zethyr Finance allow users to borrow and lend different Tron-based tokens such as TRX, USDT, WIN, BTT and so on.
Like I stated earlier Zethyr Finance is built on the Tron blockchain just like JustSwap, the primary difference between the two is that JustSwap was designed and built by the tron foundation, whereas Zethyr Finance was not designed nor built by the Tron foundation it was a third-party project. The Zethyr Finance ecosystem is very wide has it comprises of different DeFi projects, such as the Zethyr exchange, Zethyr exchange, Zethyr Finance, and Zethyr governance all this made up the Zethyr Finance system.
Furthermore, the Zethyr system allows individuals to hold, lend and borrow tokens remember that this tokens are tron-based. When an individual lends out his/her assets, they are rewarded with a particular amount of interest paid at a certain (APY), and when an individual borrows those assets, they are subjected to a certain amount of interest that must be paid when the assets is returned this is also calculated at a certain (APY).
On Zethyr finance system individuals are given zTokens as receipt for each asset they supply to the liquidity pool. For example, if you supplied or lend out TRX, you receive zTRX at a ratio of 1:1 of the TRX you supplied. This is similar to JustSwap where you receive jTokens whenever you supply your assets.
Also using the Zethyr decentralized exchange (DEX), individuals can easily swap their Tron-based token to another Tron-based token, the system uses a compiling process to provide the best pricing for exchanging or swapping activities, this is done by comparing the price of the Tron-based tokens with the average price on several exchanges.
What are the features of Zethyr Finance? Discuss them. What's your understanding about DEX Aggregator?
Zethyr Finance has a number of unique features that set it apart from other dApps. In this task, I'll go through some of the features that Zethyr Finance has to offer.
To do this the first thing I did was visit Zethyr Finance. On the landing page there are some unique features which are Markets, V1, ZToken, Swap, Stable, Blog, My Portfolio. I'll talk about this feature one after the other.
Markets
To access this feature, click the three horizontal lines at the upper right side of the page, a drop-down menu will be displayed then select Markets
This shows the total Tron-based tokens that has been supplied and borrowed, including the percentage of how each tokens are supplied and borrowed.
Scrolling down a bit there is a sub-section All Markets, this sub-section displayed each asset total supply, the APY earn for supplying the token, the Total borrow and the APY paid for borrowing the token. For instance the TRX token comes first h
V1
This is another unique feature, this is the old version of the Zethyr Finance system, this is similar to the new version V2, there are some features located at the upper side of the page which includes Markets, Calculator, DEX, Swap, Stable, and Blog. But it will be advisable to use the newest version that is V2 as it the latest one.
zToken
This is another features on Zethyr Finance platform, here you can see the zTokens on the platform, like I previously explained this tokrn serve has receipt whenever an individual supply his/her asset, this zToken is usually issued at a 1:1 of the asset supplied, for instance if you supply TRX you get zTRX, also you earn some amount of zTRX as interest since you are supplying TRX.
Swap
This feature allows individuals to swap their Tron-based token to another Tron-based token, the system compared the price with other exchanges. You can select exchanges you want to compare the price with by clicking toggle switch and the price will be matched with the exchanges you have selected.. to access this you need to connect your Tronlink wallet to the platform, then select the exchange you want to match the price with entered the token you want to swap and the amount of the token with the token you intend to swap to.
Stable
This is the most interesting feature for me, this allows individuals to swap their USDT a Tron-based token (TRC20) to Ethereum-based (ERC20) USDT (Stable coin), likewise from ERC20 to TRC20 and the good thing about this is that the transaction fee is relatively low , secured and Instant. To do this you need to connect your Tronlink wallet to the platform.
Blog
This feature is incredible as it shows the latest news and update from the Zethyr Finance team, individuals can easily check the newest updates or news about any latest development. You can click on next to check some previous updates and news, just scroll down and select the next page or click on the page number.
My Portfolio
To access this feature you need to connect your Tronlink wallet to the platform, I will do this through my Tronlink Pro app, on the homepage of Tronlink I click on Discover, visit Zethyr Finance, select the three horizontal lines and click on My Portfolio my wallet will automatically connect to the platform. My portfolio will be displayed which includes my total supply balance, total borrow balance and my borrow limit. All this illustration are shown in the screenshoots below.
The Zethyr DEX Aggregator
The Zethyr platform was fully upgraded to a DEX Aggregator on 30th of July, 2021. Before it was fully upgraded, the platform functions as a centralized exchange it has two features then the Zethyr exchange and the Zethyr swap, to execute trades, the zethyr exchange uses the order book system. Individuals placed a buy or sell order at their preferred price; the sell order is known as bid, while the buy order is known as ask; when the asset's price meets the intended price placed by the individual, the trade is immediately filled. On the other side, Zethyr swap allows people to swap their assets.
However, following this upgrade, the Zethyr exchange and Zethyr swap were merged, giving rise to the DEX aggregator. As a result, the Zethyr exchange, which used an order book system, was shut down. The platform is now a fully DEX aggregator, comparing the prices of assets on various exchanges to provide the best price to its users. JustSwap, Unswap, and +Sun.io, which is coming shortly), are the exchanges that it is now using.
Explore the Zethyr Finance Markets and show your observations in terms of profitability of Supply and Borrow (Hint: Best Supply/Borrow APY). Screenshots required.
Zethyr finance market allows individuals to lend or borrow Tron-based assets, an individual can supply their Tron-based token to the pool with the goal of earning interest from borrowers at a specified APY. Individuals can also borrow Tron-based tokens and pay back on a interest based on a certain APY.
To explore the the Zethyr finance market the first thing I did was visit Zethyr Finance.
On the landing page, the tokens available are listed with the total supply and total borrow along with their APY.
Let's take a lot at each asset one after the other, in a tabular form I'll list the total supply, the APY earned for supplying, the total borrow, the APY for borrowing and the Flash Liquidity
- TRX
| Total Supply | Supply APY | Total Borrow | Borrow APY | Flash Liquidity |
|---|---|---|---|---|
| $539,852.40 | 3.29% | $23,795.02 | 10.80% | 57.48K |
- USDT
| Total Supply | Supply APY | Total Borrow | Borrow APY | Flash Liquidity |
|---|---|---|---|---|
| $8,215.44 | 21.49% | $41.99 | 8% | 2.4K |
- WIN
| Total Supply | Supply APY | Total Borrow | Borrow APY | Flash Liquidity |
|---|---|---|---|---|
| $17,759.04 | 4.2% | - | 23% | 10.0M |
- BTT
| Total Supply | Supply APY | Total Borrow | Borrow APY | Flash Liquidity |
|---|---|---|---|---|
| $69,045.77 | 4% | $29.36 | 20% | 1.46M |
Looking at the above information, the USDT has the best supply and borrow APY at 21.49% and 8% respectively compared to the rest of the tokens.
Another section is the Total Supply and Total Borrow, the combine all the total asset supplied and borrowed, it also shows the asset with the highest supplied and borrowed percentage. Currently TRX tokens holds the major percentage of the total supply and borrow. The TRX currently hold 84.98% and 99.70% of the total assets supplied and borrowed respectively.
Show the steps involved in connecting the TronLink Wallet to Zethyr Finance. (Screenshots required)
The steps involved in connecting Tronlink wallet to Zethyr Finance is very straightforward, the steps includes;
Step 1: Open your Tronlink app, on the landing page select Discover, navigate to the search section as search for Zethyr Finance and click on it.
Step 2: Since we are using the Tronlink wallet app, it will connect automatically, to be sure that the wallet has been connected successfully scroll down to the Exchange section and your total TRX balance will be displayed.
Give a detailed understanding of ztoken and research a token of another project that serves the same purpose as it.
zTokens has previously stated is a token issued on the Zethyr finance system, this token is given to individuals whenever they supply their assets to the pool, The zTokens is given at a 1:1 of the total asset supplied, the zTokens includes zTRX, zUSDT, zWIN and zBTT. For instance, if you supply 200 USDT you will get 200 zUSDT and also receive the interest (APY) of the asset you supplied in zToken, since you supplied USDT you also receive your interest in zUSDT.
The jTokens is another token similar to the zTokens, this tokens is issued on the JustLend platform, whenever an individual supply his/her assets they get a jToken equivalent to the token they supplied. For instance if an individual supply TRX then he/she received jTRX in 1:1 that is if the individual supply 200 TRX he/she gets 200 jTRX this serve as the receipt.
The JustLend platform is also similar to the Zethyr finance platform, the total supply and borrow can be viewed, also each assets total supply, the APY earned for supplying, the total borrow and the APY paid for borrowing can as well be viewed.
The difference between them is that JustLend gives Investors the opportunity to supply some popular tokens like BTC, ETH this assets are absent on Zethyr finance platform this gives more edge to JustLend than the Zethyr finance platform.
Perform a real Supply transaction on Zethyr Finance using a preferable market. Show it step by step (Screenshots required). Show the fees incurred
I'll be using my Tronlink wallet app to perform the transaction the steps includes;
Step 1: Visit the Zethyr finance platform, select Swap, on this section locate Lending and click on it.
Step 2: Scroll down and locate Supply, the supply market will be displayed, now click on the asset you want to supply. I want to supply TRX so I click on it.
Step 3: This feature is deactivated by default. To activate this, click on Enable, I received a notification saying 20 TRX will be burned for the transactions since I don't have enough energy, so I click on Ok to proceed.
Step 4: Now I proceed with the transaction by clicking on Confirm, and enter my password to enable the feature.
Step 4: Now that it has been enabled, I entered the amount of TRX I want to supply which is 20 TRX, then click on Supply, since I don't have energy, 20 TRX will be burned. I click on Confirm and enter my password to approve the transaction.
Step 5 the transaction was successful, my portfolio was updated Immediately and my supply balance increase. Also the transaction details is shown in the second screenshot.
| Transaction Hash | bca742eab126c82217ebcedb7d477bdd522f0e70149c33f26e76a242d1da8104 |
|---|---|
| TRX burned | 31.9886 TRX |
| Energy | 114,245 |
| Bandwidth | 350 |
| Block Number | 35031547 |
Collateralize your asset to Borrow on Zethyr Finance, repay the borrowed asset and withdraw your supply. Show the steps involved and your observations (like the fees incurred). (Screenshots required).
Collateral is required as an initial deposit to borrow on Zethyr finance. However, the supplied TRX can be utilized as collateral. The steps involves is straightforward, the steps includes;
Step 1: Follow the previous steps to the Lending page, then go to the TRX supply market and activate the toggle button to collateralized the supplied TRX.
Step 2: This feature is deactivated by default. To activate this, click on Use TRX as collateral, I received a notification saying 20 TRX will be burned for the transactions since I don't have enough energy, so I click on Ok to proceed.
Step 3: Now I proceed with the transaction by clicking on Confirm, and enter my password to enable the feature.
Step 4: the transaction was successful, my borrow limit was updated immediately to $0.98. Also the transaction details is shown in the second screenshot.
| Transaction Hash | 0aa865bd31e663b21baeda7bcf7e9b1affc345247876377abcdfe177f56cca01 |
|---|---|
| TRX burned | 13.95 TRX |
| Energy | 49,867 |
| Bandwidth | 313 |
| Block Number | 35055647 |
Borrowing From Zethyr Finance Platform
Now that I've successfully collateralized my TRX token, and I've a borrow limit of $0.98 that is 50% of the total TRX supplied ($1.97) that's the maximum amount of token I can borrow, I choose the asset I want to borrow which is USDT. I will show the steps involved which includes;
Step 1: On the Lending page, scroll down and select Borrow, on the borrow market, select BTT, the current APY is 20% for borrowing BTT.
Step 2: This feature is deactivated by default. To activate this, click on Enable, I received a notification saying 20 TRX will be burned for the transactions since I don't have enough energy, so I click on Ok to proceed.
Step 3 Now I proceed with the transaction by clicking on Confirm, and enter my password to enable the feature.
Step 4: Now that it has been enabled, I entered the amount of BTT I want to borrow which is 100 BTT, then click on Borrow, since I don't have energy, 20 TRX will be burned. I click on Confirm and enter my password to approve the transaction.
Step 5 the transaction was successful, my portfolio was updated Immediately and my borrow balance increase. Also the transaction details is shown in the second screenshot.
| Transaction Hash | 0aa865bd31e663b21baeda7bcf7e9b1affc345247876377abcdfe177f56cca01 |
|---|---|
| TRX burned | 40.001687 TRX |
| Energy | 157,256 |
| Bandwidth | 345 |
| Block Number | 35031547 |
Repaying A Borrowed Token
To repay the borrowed token follow the steps below
Step 1: Navigate to the borrow section, and select the token you want to repay, since I borrowed the BTT, I click on it, then select the Repay option. I'm repaying all the borrowed BTT so I click Safe Max
Step 2 Now I proceed with the transaction by clicking on Confirm, and enter my password to approve the transaction.
Step 3: the transaction was successful, and the BTT token was repayed. Also the transaction details is shown in the second screenshot.
| Transaction Hash | 2bd712e0f0e8274fcfe1e0e3385af6d81701ad7556a66ce98f74816198650a66 |
|---|---|
| TRX burned | 49.99988 TRX |
| Energy | 178,617 |
| Bandwidth | 322 |
| Block Number | 3503474 |
Withdrawing Asset from the Supply Pool
To withdraw the supplied token follow the steps below;
Step 1: Navigate to the supply section, and select the token you want to repay, since I supply the TRX, I click on it, then select the withdraw option. I'm withdrawing the supplied TRX so I entered the TRX and click on Withdraw
Step 2 Now I proceed with the transaction by clicking on Confirm, and enter my password to approve the transaction.
Step 3: the transaction was successful, and the TRX token was withdrawn. Also the transaction details is shown in the second screenshot.
| Transaction Hash | 06a893a35b958b4f673c3832650cad95722c8f53cc8b31d7f5fc9d6c9f8f868b |
|---|---|
| TRX burned | 34.00516 TRX |
| Energy | 121,447 |
| Bandwidth | 345 |
| Block Number | 35034493 |
What do you think of Zethyr Finance? Is it great or not? State your reasons.
Zethyr Finance is an excellent DeFi application. There are several reasons for this, including its stable swap, which allows individuals to swap TRC20 stable coins for ERC20 stable coins and vice-versa for a low fee and quick transaction. There are a few other items worth mentioning, which are listed below.
- With the swap feature individuals can easily swap their TRC20 tokens to another TRC20 tokens at the best price, since the platform is an aggregated DEX that is it matches the price from different exchange to give it users the best price.
- Whenever we supplied our assets, we received the platform tokens which is zTokens issued at a 1:1 to the asset we supplied this create a straightforward and trustworthy transaction and help avoid contract issues
Just like the other lending platform, Zethyr Finance platform allows individuals to supply their assets and earned some certain amount of interest paid at a certain APY, also individuals can borrow assets and pay back at a certain APY
It offers the best APY for lender and borrower of USDT, this is one of the best platform that offers this kind of APY.
This an many more are some of the great thing about the Zethyr Finance platform, with all this mentioned there are some flaws one of which includes high energy and TRX consumption for transacting on the platform. For example while I was trying to withdraw the TRX token that I supplied it keeps on failing, burning high TRX untill after my 3rd trial before it works out. For all the transactions I've spent more than $40 worth of TRX, this was burned because I don't have energy.
Conclusion
In conclusion, the Zethyr Finance platform is an amazing DeFi application, built on the Tron blockchain but not designed nor built by the Tron foundation. It's actually a third-party platform that allows individuals to supply, borrow and swap TRC20 tokens, being an aggregated DEX gives it's users the best price of the asset this is done by comparing it with other exchanges like JustSwap, Unswap and the sun.io (coming soon). With numerous unique feature one of which is the Stable swap that allows individuals to swap TRC20 stable coins to ERC20 stable coin at the lowest fee.
I've done all the real life transactions using my Tronlink wallet, the details of all the transactions including the Hash ID, Energy, Bandwidth consumed and Block number has been indicated.
Thank you so much Professor @fredquantum for this insightful lecture. God bless you!
#club5050 😀
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