Wrapped Steem and TRX Trading pair on Justswap

Hello Steemit Community!

I wish to post an update on My experience with ProjectW. This project involved swapping Steem for wrapped Steem called WST. Steem is a Steem blockchain Token, and can’t be traded on the Tron blockchain. So you need to swap your Steem for a TRC20 token called WST. Then you can trade WST on exchanges like JustSwap, which is a dAPP or decentralized application running on the Tron blockchain. This is the first Steem-Tron Liquidity Pool on the decentralized exchanges Justswap. The wrapped Steem TRC20 Token WST is of a product of @projectw and I thank that development team for giving us on the Steemit platform the opportunity to take part in decentralized finance on the Tron blockchain, as Liquidity Providers.

#Liquidity Provider

I was a Liquidity Provider on JustSwap for the trading pair WST & TRX. The definition of being a Liquidity Provider is one who deposits dollar equivalents of trading pairs into the trading pools in exchange for a portion of the transaction fees paid by traders who trade or swap assets on these decentralized exchanges. Providing Liquidity can be very profitable, so it is attracting investors from outside of cryptocurrencies usual ranks, and it has resulted in billions of dollars moving into DEFI projects on the Ethereum blockchain this year.

My experience

WST-TRX this is the Steem-Tron trading pair.

My investment of Steem and TRX to support this ProjectW was 1000 Steem and 6370 TRX. I think it was a valuable learning experience investing on JustSwap. The Tron blockchain provides fast and cheap transactions, which is wonderful for traders. The mechanics of adding Liquidity were easy to perform and I could quickly check the status of investment throughout the day with the bright blue and white graphic interface. I linked my Tron Wallet to JustSwap and JustSwap has a internal browser that made it easy to link to all the Tron DeFi applications.

I tried this out for a few weeks and then I withdrew my funds. I did this because fast and nearly free transactions are great for traders, but it means almost #NO profits for the Liquidity Providers. So for me it was all risk and no profit. Second, the pool never reached top 20, 40 or any real status to generate publicity for Steem or a consistent positive effect on price.

Lastly, I didn’t see a single news story about Steem being listed on JustSwap as a wrapped coin and the Tron Foundation didn’t mention it either. The ProjectW team writes articles in Medium and Steemit, but other then that there was no publicity.

Suggestions

Incentives

If either the ProjectW team or Steemit, Inc., would consider injecting some funds into this project, to provide some Steem rewards in addition to the Tron earned, as an incentive to Liquidity Providers and if Steemit Inc., could the do interviews with writers from Coinmarketcap, Cointelegraph, binance or Coinbase to generate some publicity for the listing that might help.

The Sun-Token TRX pair received a lot of publicity and there were rewards to investors and Liquidity Providers of Sun token. I think that the inherently lower transaction fees for a DPOS blockchain make transaction fees an insufficient reward for the risks posed by being a Liquidity Provider. The success of the Sun-TRX pair and publicity generated for the Sun Token are illustrative of one way to do a project.