Sun.io: Sunswap, Integrated stablecoin swap, Staking, Mining, veSUN, etc.- Steemit Crypto Academy- S5W1- Homework Post for @sapwood

in SteemitCryptoAcademy3 years ago (edited)

Sun.io is an integrated platform that is used for stablecoin swapping, stake mining and self-governance on the TRON blockchain. This is based on the decentralized financial network of TRON and it currently has about $ 3,116,197,429 locked on the platform.

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The official link is https://sun.io

Features of Sun.io

Some of the features of Sun.io are
(1). SunSwap: this feature allow the user to swap one TRC20 coin to another. Some of the TRC20 coins are TRX, USDC, SUN, NFT, BTC, ETH, WBTT, JST, WIN, LIVE, USDT, USDJ, and HT

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(2). Pool: this is the features that contain information about the Pool, Base APY, Rewards APY, Volume, total Pool deposits and daily volume, the stake value.

(3). 3pool Swap: this feature allow the user of sun.io to swap three stablecoin which are USDJ, TUSD, and USDT between each other. As of 20-11-2021, the currency reserves of USDJ is 187,468,749.21 which is 34.16% of the reservers, TUSD is 193,170,973.33 which is 35.20% and USDT is 168,058,083.06 which is 30.64%

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(4). Governance: this is a feature that is made of SUN holder, coordination for global events, transparency and self governance, they also have volunteer representatives in these features.

(5). Stake: this is the feature that allows user to lock their coin in others to receive rewards. You can lock SUN to get veSUN as a reward.

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Other features of the sun.io platform are the airdrop platform, century mining, sunswap e.t.c

Different LP tokens in Sunswap

Open sun.io in a web browser of your choice and click on SunSwap it will load the SunSwap page and some other features present on the page which are Swap, LP Pools, Scan, SUN Swap, Burn SUN, WTRX, WBTT, Help Center, English, Telegram and Twitter

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Now to view the LP pool and know the amount of the LP pools.
On the SunSwap page click on the LP Pools

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It will show total staked value which is 8,470,103,596 TRX equivalent to 883,159,231 USD, also it displayed when you can stake LP tokens to earn rewards in TRX and more and in all we have nine (9) LP pools in SunSwap which are USDT-TRX LP currently with 7.92% APY, WBTT-TRX LP currently with 8.83% APY, NFT-TRX LP currently with 38.39% APY, USDJ-TRX LP currently with 6.94% APY, TUSD-TRX LP currently with 14.45% APY, USDC-TRX LP currently with 19.79% APY, BTC-TRX LP currently with 3.7% APY, ETH-TRX LP currently with 20.65% APY, and WIN-TRX LP with 10.52% APY

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Click on Scan to view the Liquidity, volume, trading Pair and some of the transactions of TRX.

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On the Scan page, you can either view V1.0 or V1.5

Now we can see the volume, liquidity graph of TRX, some of the trading pairs of TRX and transactions on V1.0

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This show volume, liquidity graph of TRX, some of the trading pair of TRX and transactions on V1.5

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Based on the SunSwap V1.0

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As at 2021/20/19

TRX price:$ 0.1042
Pairs:17,547
Transactions (24hrs):47,451
New Pairs (24hrs):14
Liquidity: $1,795,132,669
Volume (24hrs): $55,214,701

Based on the SunSwap V1.5

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As at 2021/20/19

TRX price:$ 0.1043
Pairs:125
Transactions (24hrs):610
New Pairs (24hrs):3
Liquidity: $434,736
Volume (24hrs): $162,307

Let Look at each LP Pools Tokens

USDT-TRX LP

Type in USDT-TRX in the search bar to search for the trading pair

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USDT-TRX Trading Pair shows that

1 USDT = 9.6750 TRX($1.0178) and 1TRX = 0.1033 USDT($0.1052)

Total Liquidity+ 1.13 % = $21,893

Volume (24hrs)+ 92.15 % = $25,603

Transactions (24hrs)- 6.06 % = 62

The Pooled Tokens for TRX and USDT are 105,086.248 TRX and 10,861.5474 USDT.

The chart of the pair is also displayed

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Some of the last transactions that take place are also displayed for example in 56 minutes ago swapping TRX for USDT transaction take place with a total value of $66.1625 equivalent to the token amount of 65.1987 USDT, and 628.9136 TRX with the account details.

And lastly, it displayed the pair information that contain the pair name, address and USDT address.

WBTT-TRX LP

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WBTT-TRX Trading Pair show that 1 WBTT = 0.0327 TRX($0.0034) and 1TRX = 30.5647 WBTT($0.1047)

The Pair Stats also shows that

Total Liquidity+ 3.23 % = $943

Volume (24hrs)- 36.48 % = $148

Transactions (24hrs)+ 10 % = 11

The Pooled Tokens are 4,506.8778 TRX and 137,751.818 WBTT

WBTT/TRX Candlestick chat

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The last transaction on the transaction list is the Swapping of WBTT for TRX that a token placed 6 hours ago with a total value of $0.8475 equivalent to the token amount of 247.7147 WBTT, and 8.0948 TRX with the account details.

NFT-TRX LP

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NFT-TRX Trading Pair shows that 1 NFT = < 0.0001 TRX(< $0.0001) and 1TRX = 20,720.4957 NFT($0.1051)

The Pair Stats are

Total Liquidity+ 3.6 % = $13,239

Volume (24hrs)+ 119.57 % = $2,688

Transactions (24hrs)- 24.24 % = 25

The Pooled Tokens are 63,068.45 TRX and 1,306,809,551.546 NFT

NFT/TRX Candlestick Chart

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The last transaction on the transaction list is the Swapping of NFT for TRX that token placed 58 seconds ago with a total value of $56.6722 equivalent to the token amount of 11,205, 098.7021 NFT, and 539.1652 TRX with the account details.

USDJ-TRX LP

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USDJ-TRX Trading Pair shows that 1 USDJ = 9.5428 TRX($1.0022) and 1TRX = 0.1047 USDJ($0.1050)

Pair Stats shows that

Total Liquidity+ 1.25 % = $121,630,944

Volume (24hrs)- 69.37 % = $2,535,036

Transactions (24hrs)- 67.81 % = 494

The Pooled Tokens are 579,232,614.3031 TRX and 60,698,307.5793 USDJ

USDJ/TRX Candlestick Chart

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The last transaction on the transaction list is the Swapping of USDJ for TRX that a token placed 11 minutes ago with a total value of $8,194.8218 equivalent to the token amount of 8,199.7225 USDJ and 78,024.2165 TRX with the account details.

TUSD-TRX LP

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TUSD-TRX Trading Pair shows that 1 TUSD = 9.5971 TRX($1.0021) and 1TRX = 0.1041 TUSD($0.1044)

Pair Stats shows that

Total Liquidity- 2.2 % = $57,226,205

Volume (24hrs)- 48.78 % = $1,655,266

Transactions (24hrs)- 47.63 % = 410

The Pooled Tokens are 279,030,581.0208 TRX and 29,074,368.7476 TUSD

TUSD/TRX Candlestick Chart

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The last transaction on the transaction list is the Swapping of TUSD for TRX that took place 4 minutes ago with a total value of $4,421.4836 equivalent to the token amount of 4,428.8301 TUSD, and 42,383.0153 TRX with the account details.

USDC-TRX LP

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USDC-TRX Trading Pair shows that 1 USDC = 9.5806 TRX($0.9835) and 1TRX = 0.1043 USDC($0.1026)

Pair Stats shows that

Total Liquidity- 10.17 % = $5,075

Volume (24hrs)- 98.83 % = $36

Transactions (24hrs)- 50 % = 3

The Pooled tokens are 24,738.3563 TRX and 2,582.122 USDC

USDC/TRX Candlestick

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The last transactions among the transaction list are the Swapping of USDC and TRX that token place 1 hour ago with a total value of $283.4582 equivalent to the token amount of 288.1968 USDC, and 2,761.1071 TRX with the account details

BTC-TRX LP

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BTC-TRX Trading Pair show that 1 BTC = 562,947.7931 TRX(57,699.8318) and 1TRX = < 0.0001 BTC($0.1024)

Pair Stats shows that

Total Liquidity+ 1.66 % = $2,123

Volume (24hrs)- 100 % = $0

Transactions (24hrs)- 100 % = 0

The Pooled Tokens are 10,349.0914 TRX and 0.0183 BTC

BTC/TRX Candlestick Chart

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The last transaction among the transaction list is the Swapping of BTC for TRX that token placed 35 hours ago with a total value of $25.7416 equivalent to the token amount of 0.0004 BTC, and 251.1482 TRX with the account details

ETH-TRX LP

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ETH-TRX Trading Pair shows that 1 ETH = 39,860.2370 TRX(4,084.7928) and 1TRX = < 0.0001 ETH($0.1024)

Pair Stats shows that

Total Liquidity- 4.66 % = $1,061

Volume (24hrs)- 100 % = $0

Transactions (24hrs)- 100 % = 0

The Pooled Tokens are 5,175.9774 TRX and 0.1298 ETH

ETH/TRX Candlestick Chart

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The last transactions among the transaction list are the Swapping of ETH for TRX that token place 27 hours ago with a total value of $16.3964 equivalent to the token amount of 0.0039 ETH, and 160 TRX with the account details

WIN-TRX LP

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WIN-TRX Trading Pair shows that 1 WIN = 0.0080 TRX($0.0008) and 1TRX = 124.1914 WIN($0.1025)

Pair Stats shows that

Total Liquidity- 4.21 % = $800

Volume (24hrs)- 97.03 % = $41

Transactions (24hrs)- 64.28 % = 5

The Pooled Tokens are 3,901.3275 TRX and 484,511.4525 WIN

WIN/TRX Candlestick

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The last transaction among the transaction list is the Swapping of WIN for TRX that token place 3 hours ago with a total value of $0.0493 equivalent to the token amount of 60 WIN, and 0.4817 TRX with the account details

Fee generate in the last 24 hrs in different LP pools and buy backing and burning SUN

To calculate the percentage of the fee that is being utilized to buy back and burn SUN, from the SunSwap page click on Scan

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From the trading pair we can view the LP pools pair, fee for 24hours and then calculate fee for buy back and burn SUN which is [(1/6) × fee for 24hrs)]

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The total of fee for buying back and burning SUN for the nine LP pool pair during the time of taking this screenshot is $16,272.1679.

Stake SUN to obtain veSUN

To stake SUN to obtain veSUN, I open my Tronlink wallet to access the SUN.io from the platform. By doing so I will connect my wallet to the SUN.io platform.

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From my Tronlink wallet, I click on Discover and then click on SUN

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On the SUN page click on the menu

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Click on Stake

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Click on Lock SUN to get veSUN

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My Balance is 60.65SUN, I type in 6 and my expiry date of lock I select 4 years then my vote of veSUN after lock read 6. Then I click on Deposit

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Click on Confirm

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The page asks for a wallet password; so I will input the password and click on Done

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The transaction will be sent waiting for approval

What is veSUN

veSUN stands for vote Escrowed SUN, which is useful when it comes to the governing of the SUN mining because it allows the participants to vote and this veSUN is determined by the amount of SUN stake and the duration for the Staking.

When you stake SUN you lock it for a particular period and you are rewarded veSUN in return.

The locking period is between 6 months which is equal to 26 weeks to 4years, once the time expired the locked SUN will be released.

The calculation of veSUN is carried out based on the quantity of the SUN locked multiple by the results gotten when the current date is subtracted from the expiry date and the answer is divided by 4years ( 365days × 4)

So in Mathematics way, we can write it like this veSUN = (Quantity of SUN locked × (expiry date - current date)) / (365days × 4).

3-in-1 Benefit of Holding veSUN Tokens

The 3-in-1 benefit of holding these veSUN tokens are

  1. TUSD rewards earning: 50% of the fees gotten from the stablecoin pools every week is shared as a reward to the user based on the veSUN that they are holding.
  2. The liquidity pool mining is accelerated: the veSUN held by users help them to increase their mining speed in the liquidity pools.
  3. Users can decide mining weights by voting for the mining in the liquidity pools with their veSUN.

Stablecoin Swap facility in Sun.io platform

The stablecoin swap facility allows the user to swap one TRC20 stablecoin to another. The stablecoin available for swapping are USDT, USDC, USDJ, and TUSD, Any of these stablecoin can be swapped to each other with a different exchange rate and also a fee is being removed for the exchange.

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The stablecoins supported in the SUN platform, there uses in the context of staking & mining

SUN platform support four different stablecoin which are USDT, USDC, USDJ, and TUSD and when. It comes to the context of mining and staking the use of this four stablecoin is very important because it provides four different LP pools are USDT-TRX LP, USDJ-TRX LP, TUSD-TRX LP and USDC-TRX LP which can be stake for JustSwap liquidity mining and the mining rewards is in TRX. Three of this stablecoin are used for 3Pool which are USDJ, TUSD, and USDT.

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USDT-TRX LP

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USDJ-TRX LP

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TUSD-TRX LP

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USDC-TRX LP

Before you can take part in the Liquidity mining and earn TRX as a reward, you need to hold LP tokens.
For the USDT-TRX LP mining pool, it will only accept USDT-TRX LP tokens. The same goes for the USDJ-TRX LP, TUSD-TRX LP and USDC-TRX LP mining pool.

In conclusion, SUN has provided a good platform for swapping stablecoin, and also mining tokens.

@sapwood

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