Hey Guys..!!
Meet again with me Wahyu Nahrul on the other Steemit Crypto Academy homework.
Today I will be working on homework given by one of our professors @sapwood.
The homework given by our professor this week is about Liquidity Mining and DApp which will be the topic of discussion about mining this time is Sun.io.
Okay, just get to the discussion. Happy Reading !!
Connecting My TronLink Wallet To Sun.io
The first thing I will describe is the steps for connecting TronLink Wallet to Sun.io. For example, this time I'm using an application called "TronLink Pro" which you can download on your smartphone.
Step 1
Open your TronLink Wallet application then click on the "Discover" option at the bottom.
Step 2
Choose the DApp icon from "SUN" on the middle page.
Step 3
A pop-up will appear asking for permission to link your Tron Wallet with Sun.io. Click on the "Enter" button.
Comparison Table
Step 4
You will be taken to a page from Sun.io which will look like the image below. Your wallet is actually connected automatically with Sun.io, to check it you just have to click on the 3 striped buttons.
Step 5
Click on the button containing your Wallet address.
Step 6
After that, you will be shown that your Tron Wallet is connected to Sun.io which looks like in the picture below.
The Difference In The Liquidity Mining Pools, Highest APY Offer, and Rewards That We Get By Staking LP Tokens
1. The Difference In The Liquidity Mining Pools
At the time of writing, there are 9 types of Liquidity Mining Pools on Sun.io, including:
- USDT-TRX
- USDJ-TRX
- TUSD-TRX
- SUNOLD-TRX
- WBTT-TRX
- JST-TRX
- BTC-TRX
- ETH-TRX
- WIN-TRX
2. Highest APY Offer
Of the 9 types of mining offered, each has a different APY value, and the type of mining that has the largest APY value is SUNOLD-TRX with an APY percentage of 37.18%.
3. Rewards That We Get By Staking LP Tokens
If we look at the types of mining offered at Sun.io, we will see that the mining bonus is 5 tokens, including TRX, JST, WIN, SUNOLD, BTT.
But, if we look at the mining bonus list while we are mining, the list will show the addition of one token, which is BTCST. So that we will get a total of 6 tokens from our mining results on Sun.io. This is an update from Sun.io which is still very new, so there are still some places that haven't been updated.
For an example of how to mine at Sun.io, I will explain in the next explanation.
How to get LP Tokens by adding liquidity at JustSwap And What is the quantity
1. How obtaining LP Token by adding liquidity in Justswap
There are several steps that we must take in order to get LP Tokens by placing liquidity on JustSwap. Please read the steps carefully.
Step 1
On the start page of the TronLink Pro application, select the "Discover" option at the bottom of your smartphone screen.
Step 2
Then select the "JustSwap" option in the Popular DApps option.
Step 3
After that, you will be taken to the Justswap.io page, where the initial page is where we swap tokens. To put liquidity, we select the "Pool" option on the right.
Step 4
Click on the blue "Add Liquidity" option.
Step 5
Choose the token first that you will exchange with your TRX by selecting the "Select a token" option which is shown by the box and the red arrow in the image below.
Step 6
After that, look for the token that you want in the search field then click on the token icon, here I am giving an example of a USDT Token.
Step 7
Fill in the amount of TRX that you want to exchange for the token, then click the "Supply" button below.
Step 8
You will be given a notification to confirm your transaction, click on the "Confirm Supply" button.
Step 9
And done!!
Your liquidity has been added.
Step 10
If you return to the start page, you will be shown the details of the liquidity that you added earlier.
2. The Quantity Of LP Token Obtained From My TronLink Wallet
Result of the "Obtaining LP Token" transaction on JustSwap. I got 18.76413 S-USDT-TRX which will be used for Liquidity Mining on Sun.io later. The details of the transactions that occur are:
- Adding 15 TRX and 1.168733 USDT.
- Received 18.76413 S-USDT-TRX.
- Bandwidth consumption: 383 Bandwidth.
- Energy Consumption: 60,902 Energy.
- TRX Burned: 8.52614 TRX.
Staking LP Token To Earn (Five) Six Different Tokens On Sun.io
As you know, we can get several tokens from liquidity mining at Sun.io if we stake the LP Tokens we have, you can read the steps on how to stake LP Tokens in the explanation below.
Step 1
Click the "Discover" option at the bottom of the apllication.
Step 2
Choose the "SUN" DApp option on the page.
Step 3
After that you will be taken to the Sun.io page where there are 9 liquidity mining options, here I will choose to mine on the USDT-TRX type because I previously chose USDT tokens when I stake tokens on JustSwap. After that, click on the "Select" button below.
Step 4
After that you will get a pop-up to sign in to your Tron Wallet with Sun.io, all you have to do is click the "Approve USDT-TRX LP" button to accept it.
Step 5
Enter the amount of LP Tokens that you want to stake or if you want to put all your tokens, just press the "MAX" button on the right. After the amount has been filled, select the "Stake" option below.
Step 6
After that, a notification will appear that the LP Token that you stake has successfully entered Sun.io liquidity mining.
Step 7
If you return to the initial Sun.io page then you will be shown the number of LP Tokens that you have staked and the percentage of mining reward that you will get.
Reward (Out Of Six Different Rewards) Can Be Withdrawn At Any Time And How To Claim It
1. Checking a Reward That Can Be Claimed Right Away
Step 1
Don't leave the Sun.io page yet, choose the type of liquidity mining that you have done before then click on the green "Manage" button that is below.
Step 2
After that, select the "Claim" option in the upper right, then you will be shown in the middle of the page about tokens that can be claimed immediately. Here it is shown that the only tokens that can be immediately claimed are SUNOLD Token, while the other tokens still have to wait.
2. Claiming The Reward
Step 1
To claim your reward, all you have to do is click the "Claim" button next to the SUNOLD amount.
Step 2
After that, you will be asked to confirm your transaction.
Step 3
Then you will be asked to enter your transaction password.
Step 4
And done!!
Your reward in the form of SUNOLD has been successfully claimed.
The Schedule Of Unlocking The Mining Rewards And The Total Undistributed/Distributed Mining Rewards
In order to withdraw rewards from liquidity mining at Sun.io, we need to know a few things first.
- Not all rewards can be withdrawn at any time.
- All reward tokens except SUNOLD can only be withdrawn per week for 24 weeks (6 months).
- The amount of SUNOLD that can be withdrawn at will is only 33% of the total SUNOLD reward that we get.
From the points above, we can conclude that we cannot immediately take the rewards from our Liquidity Mining results, all of these rewards will be distributed gradually per week for 24 weeks.
The total undistributed / distributed mining rewards that I currently get is <$0.001, this is very understandable because I just did this liquidity mining and my rewards haven't been accumulated much. You can see the details in the image below.
The Real Example My Interaction With JustSwap And Sun.io, Comparison Energy & Bandwidth Consumption Between "Stake" in Sun.io and "Obtaining LP Token" in JustSwap
1. Obtaining LP Token On JustSwap
To complete this task, I have done several transactions on JustSwap. This time I'm adding 15 TRX and 1.168741 USDT to get 18.76413 S-USDT-TRX LP Tokens on JustSwap so that I can do Liquidity Mining on Sun.io later.
To complete this transaction, several things are needed, namely Bandwidth and Energy. The amount of Bandwidth required for this transaction is 383 Bandwidth while the amount of Energy needed is 60,902 Energy because my amount of energy is insufficient, my Tron Token which is 8.52614 TRX, was burned to cover my lack of energy.
2. Staking LP Token On Sun.io
After receiving LP Tokens of 18.76413 S-USDT-TRX from transactions at JustSwap, I staked all of these tokens with Sun.io to do Liquidity Mining.
The power consumption required to complete staking at Sun.io is 313 Bandwidth and 89,516 Energy. And because I don't have enough Energy, my TRX is burned as much as 12.5321 TRX to cover the lack of Energy.
3. Comparison of Bandwidth and Energy Consumption, and Burnt TRX
From my explanation above, we can see that the amount of bandwidth and energy consumption required for each transaction from each DApp is different. For more details, you can see it in the table below.
We can see in the table above that there are differences in the bandwidth and energy consumption required from each transaction on these two DApp. The energy consumption required for the "Obtaining LP Token" transaction at JustSwap requires 60,902 Energy which is diagnosed by burning 8.52614 TRX. Meanwhile, the "Stake" transaction at Sun.io requires 89,516 Energy, which is replaced by burning 12.5321 TRX because I don't have enough Energy.
From this data, it can be concluded that the "Stake" transaction at Sun.io is more costly than the "Obtaining LP Token" in JustSwap. Although the bandwidth fee for "Obtaining LP Token" in JustSwap is greater than the "Stake" in Sun.io, in my opinion, this cannot be a factor of "high cost" for each transaction because Bandwidth is given for free as much as 5,000 Bandwidth each. the day is reset again to 5,000 if there is usage.
Unstake LP Token And Claim Mining Rewards On Sun.io
It is very easy to unstake the LP Token on Sun.io, just follow these steps.
Step 1
On the start page of the TronLink Pro application, select the "Discover" option at the bottom of your smartphone screen.
Step 2
Select the DApp "SUN" on that page.
Step 3
Find the type of Liquidity Mining you wish to unstake and click on the "Manage" button.
Step 4
Enter the amount of LP Token that you want to unstake then click on the "Claim & Unstake" button below.
Step 5
Click the "Confirm" button to continue the transaction.
Step 6
Enter your transaction password.
Step 7
Done!!
Your LP Token has been successfully unstake and your reward automatically claims itself.
Last Word (Conclusion)
Liquidity Mining is a very new type of mining and there are still many people who don't know about this type of mining, even though if we want to study it carefully then we will be able to get big profits in a very easy way. Also, the DApp issued by the TRON Blockchain is already very good, we can see that the TRON Blockchain is serious about serving its users, it has made various DApp's that can help its users.
I apologize if there are still many mistakes that you can get when reading my explanation earlier, I would be very grateful if you told me in the comments column below.
Thank you for reading my blog, hope it will be useful for all of you. 😁
Note: All unsourced images and tables were created by the author.
Thank you for attending the lecture in Steemit-Crypto-Academy- Season 2 & doing the homework task-7.
Yes, but the only token SUN can be withdrawn up to a max of 33%, the rest of the SUN rewards can be unlocked weekly over a total of 24 weeks.
That's correct.
Suggestions/Feedback:-
Thank you.
Homework Task -7 accomplished.
[10]
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for the review professor!! 😁
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Shared on Twitter
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit