Hello great steemians, I’m happy to be a partaker of the new season once again. I would say, the lecture on sun.io by our prestigious professor @sapwood on the recent Defi platforms invented, which has helped crypto users and traders to participate in all kinds of income deriving activity from the Defi system. I would make my intro short in other to move over to the main cause of the topic, happy reading!
Discuss the various features of Sun.io, a comprehensive Defi facility of the Tron family?
Sun.io is a Defi system built on the Tron ecosystem, the first unified system built on the Tron ecosystem which facilitates the swapping of stable coins, Gives users the ability to stake mining, and self-governance (the ability of users to control their activities in the system).
I would be discussing the various features of the sun.io system which makes it a unique and important Defi system in our evolved generation.
In other to determine the various features of sun.io, you visit the sun.io Defi space by login into the site SUN.io. The user should make sure their wallet is connected to their Tron link wallet, it is advised to login to the sun.io system through the Dapps icon in the Tron link pro wallet for easy and fast linkage of the account. Once your account is connected you would notice your wallet address on the page.
This page as well depicts the different features of sun.io, which includes; Sun swap, Stake, Governance, Century mining, Airdrop, etc.
The Defi System Sun.io has a feature in the swapping and conversion of stable coins to each other. Following the four basic stable coins swap in the sun.io system, we have; USDT, BUSD, USDJ, TUSD. Users who choose to make exchanges with any of the variant stable coins as described can easily swipe and exchange their stable currencies to a different stable currency for instance; from USDT to USDJ.
The Tron system With the invention of Sun Defi system has made exchanges and swapping of currencies not just easy but also with profitable percentage gains which users involved in the LP benefits.
As a decentralized system where there is no central body governing and controlling users with a variety of rules and regulations, the sun.io system has a unique feature which is the ability of users and traders to vote, deciding the faith of the policy to be installed and carried on. Such as the voting of the “weight of liquidity pool” going on currently.
This voting determines the percentage income gotten from transactions made by various users to LP contributors, and this range of voting determines the percentage rate of liquidity pool each user would get depending on the pool name of interest the user choose to use.
The sun swap feature enables the user to swap and exchange their token or coin for another currency such as BTC, ** ETH**, WBBT, SUN, NFT, JST, etc.
The total value locked in liquidity pool is $ 1,810,328,400.
Under the swap option are for users who wish to swap their token or coin with another.
We also have the pool option where users can add more liquidity pools to the system.
users who participate in the addition of liquidity pool to the system gain some percentage APY in return which is about 5/6 of transactions made in the system.
In other to participate in the pool, slide right to the pool option and click on “add liquidity”
Users have access and the ability to stake their coin in the system which gives them the ability to unlock more rewards from the pool.
The staking pool has about $492,595,04.24 sun locked in the staking pool.
Users can choose to lock their sun for the following Time range; 6 months (which Is the least), 1 year, 2 years, 4 years(the longest time range). The higher the range of time the higher the percentage return. By locking sun, users have access to veSUN which is acquired by the user after the time limit must have been reached.
This staking enables users to hold the coin or token for a long period, Inducing an increase in token value.
Century mining consist of two phases which are; genesis mining (v1) and Governance mining(v2). The genesis mining has come to an end and a new beginning of mining which is the governance mining has taken place. The mining duration in the initial month was shortened from 30 - 18 days with the constant mining rate.
Century mining timeline
This provides comprehensive stages on the distribution of sun airdrops in 52weeks. The sun airdrop is distributed to the vote-escrowed CRV holders who locked up their token (CRV) in a long or short period.
Users who still locked their CRV token over the 52 weeks receive higher sun tokens compared to those who locked their CRV token in a short time.
Visit Sunswap and scan the different LP pools? How many different LP tokens are available in Sunswap? Based on the available data in Sun scan, how much fee did it generate in the last 24 hrs? What percentage of that fee is being utilized to buy back and burn SUN?
The different LP pools on SUNSWAP
There are a total of 9 LP pools on the SUNSWAP which are; USDT-TRX LP, USDJ-TRX LP, TUSD-TRX LP, USDC-TRX LP, BTC-TRX LP, WBTT-TRX LP, NFT-TRX LP, ETH-TRX LP and WIN-TRX LP.
- USDT-TRX LP
- WBTT-TRX LP
- NFT-TRX LP
- USDJ-TRX LP
TUSD-TRX LP
There is no information or detail for the TUSD-TRON pair.USDC-TRX LP
- BTC-TRX LP
- ETH-TRX LP
- WIN-TRX LP.
How many different LP tokens are available in Sunswap
There are a total number of 126 LP tokens on the Scan interface of SUN.IO
Based on the available data in Sun scan, how much fee did it generate in the last 24 hrs? What percentage of that fee is being utilized to buy back and burn SUN?
Below is a screenshot of the image that was gotten from the SUNSCAN.
| LP tokens | Fees Generated |
|---|---|
| USDT-TRX | $91,800 |
| USDC-TRX | $25,356 |
| WBTT-TRX | $6,350 |
| USDJ-TRX | $24,795 |
| ETH-TRX | $17,943 |
| WIN-TRX | $9,532 |
| NFT-TRX | $21,281 |
The total = $197,057
To get the the percentage (%) I will Calculate using this formula
The 1/6 of the fee is burned and repurchased in the last 24 hours.
That is 1/6 multiply by the total then the result
i.e 1/6 X $197,057 = $32842.83
The amount used to buy back sun is $32842.83 (approximated)
Staking SUN To Obtain veSUN
I want to call the attention of the Professor to this, I've some financial crises. My Brother got involved in a serious motor accident. I've to fund his hospital bills. And now I don't have funds to do this transaction.
I sincerely apologise and I hope the professor understand this .
Thank you!
What is veSUN? What is the 3-in-1 benefit of holding veSUN tokens?
VeSUN Which stands for Vote Escrowed SUN is a token that is used by users primarily to take governance in the sun.io Defi system.
veSUN is obtained by users who takes part in the century mining, precisely the governance mining(v2) which is the second stage of mining currently.
Users who locked their SUN tokens was rewarded with veSUN during the first stage of mining, “genesis mining” which was on the 14th of July, 2021 and lasted to 15th September, 2021.
The current phase of mining which is the governance mining is set to last for 6 years, ranging from the **15th September 2021 ** to the 6th of June 2026.
veSUN is rewarded to SUN holders whose asset had been locked on the same basis in comparison to the first phase.
As I initially stated in the first question, sun.io has a locking duration of 6months to 4 years, the voting rights of the sun platform is given to the users of veSUN.
Users who have acquired a higher amount of the veSUN tokens are given more right to vote than those with a minimum amount. The voting right is determined by the multiplication of the amount of sun locked by the user and the expiry date subtracted by the current divided by 4 (years of lock)
Mathematically:-
veSUN= amount of locked sun * (expiry date - current date of locking ) / 4 years.
Users who sun locked their sun token for a long period receive more rewards than those locked over a shorter period.
Users who lock up their sun for 4 years reaps veSUN of the same amount compared to the ones locked, while users who locked ** lSun** for 2 years only receive half of the sun locked.
This second phase of mining helps users to expand their right to vote on sun.io earning multiple rewards. veSUN held by users can be used to speed up liquidity rates in the mining pool. Holders of veSUN can vote in relation to their percentage basis and the locked asset can’t be withdrawn until the period for locked sun elapses.
percentage of votes castes by sun holders can be altered, and the vote of a user is not affected when new sun tokens are locked.
- The three in one benefit of holding veSUN
veSUN is rewarded to users who locked their SUN tokens for some time. At this point, users earn vast rewards in the Sun Defi system known ad 3 in 1 reward. The following benefits are as follows;
1 -Acceleration and speeding up of the liquidity mining pool:Users have the chance to accelerate and speed up their mining rate in the liquidity pool to a maximum of 2.5x speed, holding veSUN Token
2 -TUSD rewards: During sun locking, 50% of transactions made in that week from Stablecoins pool are distributed to the holders of veSUN, which is based on the amount held by each user. This means that the higher the amount of veSUN held, the higher the chance of TUSD rewards a user gets.
3 -Determination of the weights of liquidity pool: From holding veSUN token, users can have and participate in the community voting which is done every ThursdayIn other to decide mining in the liquidity pool. Results from past votes done every Thursday by 8 am by veSUN holders at is used in adjusting the weight of mining in the liquidity pools for that week.
What is the stablecoin swap facility in Sun.io? How many different stablecoins are supported in the SUN platform? What is its use in the context of staking & mining?
Stablecoin swap facility in Sun.io facilitates swapping of standard trc-20 stablecoins for one another. The different stablecoin swapping is carried out using the 3 pool swap.
- STABLE SWAP
Stable coin swapping with a low fee as the charge is one unique feature in the sun.io DEX system, unlike other centralized exchanges which charges quite higher compared to DEX system (sun.io to be precise).
- 3 POOL SWAP
The swap stablecoins feature was created in other to build more stablecoins swapping for sun and also for it to be what all users makes use of in time to come.
Stable-coin swapping facility has removed the issue of tension during trading, where users bother about the rate of volatility in an asset.
Now users could be able t trade their crypto assets without tension over price volatility.
The stablecoin swap facility deals with lower transaction fee charges and is a good Feature to acquire in other to maximize the usage frequency by traders and investors all over the world.
The 3 pool Stablecoin swapping has a low transaction slippage and low impermanent loss as well. Here users can modify the slippage percentage of their choice ranging from 0.5% - 50% considerably.
The Low %slippage depicts the % amount a user gets while swapping large amounts of a particular stablecoin, receiving more of the other.
Stablecoins remove the rate of volatility in cryptocurrencies due to their stability and Their ability to not be affected by the price change. asset loss caused by volatility is being reduced by the invention of the sun stablecoins swap facility.
- DIFFERENT STABLECOIN SUPPORTED BY SUN.IO SYSTEM
In the sun system there are 4 different stable coins facilitated by sun.io Defi system, they are; USDT, USDJ, TUSD, and USDC.
In relation to the context of staking, there are two major pools that mediate the 4 stablecoins, they are; 3 Pool LP and USDC LP.
- THE 3 POOL LP
The 3 pool LP houses the 3 different stable currencies which are; USDT, USDJ and TUSD. The Addition of equal liquidity to all 3 stablecoins rewards the user with 3 Pool LP tokens, SUN rewards are also earned here.
- USDC LP
The USDC LP is precisely for the USDC stablecoin and 3SUN. The user can swap USDC for 3SUN, vice versa.
The pool allows users to swap their stablecoin (usdc) for 3SUN and also where they can earn rewards sun
In the mining context, there are 4 mining pools a user can take part, in to earn rewards. In these 4 different pools, four (4) different stablecoins are staked to earn trx.
IN STAKING CONTEXT, USERS STAKE AND LOCK THEIR STABLECOINS IN OTHER TO EARN SUN
IN MINING CONTEXT, STABLECOINS ARE STAKED TO EARN TRX.
Researching and reading more on the Defi system mechanisms and progression has actually enlightened me into believing that truly, the Defi system has relieved a lot of people by banking the unbanked and also making the rate and processes required for transaction very easy, fast, and dependable.
Defi exchanges (sun.io) precisely, with its unique features of swapping, mining and staking coins has made currency exchanges in crypto easy and fast, users can change their stable coins to another stable coin with low fee charge, users can mine and stake their assets in the liquidity pool to gain extra rewards and so on.
It’s of great pleasure that I can partake in this wonderful course which I learnt a lot from, which was lectured by professor @sapwood, and I’m happy to say that it’s a course well made and lectured.
Thanks for reading.
Note all images used for this assignment were extracted from the following sites listed below.
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I want to once again appeal for not completing the question 3 task for lack of funds, I'm been sincere and honest here, i really hope the professor understand this, I'm also ready to face the penalty attached to not answering the question 3 question, but I want the professor to consider the time I took to answer the rest of the questions in my own understanding.
I appreciate the Steemit team in general for the efforts and all the professor for thier hardwork and dedication.
Thank you professor @sapwood for your time and dedication