Crypto Academy Season 4 Beginners' course - Task 1: Tron Ecosystem || By @ready247 for @sapwood
{A} What are the different dApps in the Tron ecosystem are you familiar with?
{B} What are the uses of DeFi applications like Justswap, JustLend, and Sun.io?
{C} How can you optimize mining rewards by staking TRX and other TRC20 tokens in Sun.io? Examples?.
INTRODUCTION
When we talk about {Dapps} just bear it in mind that it's all about decentralized applications.
Dapps is a program or a digital application which exist and process on a peer to peer or blockchain network of many computers instead of one computer, and it's not manipulated or controlled by a single authority.
{A} What are the different dApps in the Tron ecosystem are you familiar with?
Under the tron ecosystem we have many decentralized apps that has been created,
According to its record, the TRON network
Has the total number of 1,400 dApps that has been built or created with everyday transaction volume of $12 million.
This are few dapps that I'm familiar with,
And there are👇
- Tronz World
- Trontrade
- Tronscan
- Socialswap
Tronz World
This is a Decentralized platform that was built under the tron ecosystem, and it's a global crowd funding community with a benediction cryptocurrency model. And you can reach out to the platform via this link👇
https://tronz.world
Trontrade
Trontrade is a dex platform or a decentralized exchange that revolves around the tron token or
A decentralized exchange that enables you to buy and seller a multiplicity of TRC10 and TRC20 cryptocurrencies, here is the link that will lead you to trontrade platform
https://trontrade.io
Tronscan
The tron scan is a legitimate explorer of the TRON public smart contracts blockchain. TronScan contian a carry come web wallet for sending, receiving, and also deals with TRON tokens and dapp interactions throughout the network. TronScan protecting metrics beggining from full node records to dapp interactions and smart contract generate.
Here is the link that will lead you to the tronscan website.
https://tronscan.io
Socialswap
This is a DEX platform that was launched in March 2021, social swap was built base on the tron blockchain network, like i siad social swap started it journey on 28.03.2021, and users do benefit through the advantages network fees and speed transactions,
Here is the link that will lead you to the tronscan website. https://tronscan.io
{B} What are the uses of DeFi applications like Justswap, JustLend, and Sun.io?
When we talk about DEFI it simply means decentralized finance, and *defi
Is defined as a financial system which operates or works without the need for traditional or centralized intermediaries,
Defi built a system which do functions on its own.
There are many defi applications that was built on the tron ecosystem, and are 👇.
👇👇
- JustSwap
- JustLend
- Sun.io
Defi applications and it uses👇
JustSwap
This is a TRON-based token trading service that permits for trade/conversion of TRON-based tokens (specially TRC20 tokens and TRX tokens).
The specific characteristic of JustSwap is that it permits customers to gain the transaction charge rather than channeling it to JustSwap as an organization.
JustLend
This is a wonderful social lending platform by which people also can provide loans and earn interest in addition to obtain low-interest loans. It is a TRON-based cash marketplace protocol with the aim of making capital pools with interest charges decided with the aid of using an algorithm based on TRON asset deliver and demand.
Sun.io
From the image above you can see that Sun.io is just an integrated platform for stablecoin swap, stake-mining, and its based on the TRON network,👇
Stablecoin swap:
Sun.io is understood to be the primary TRON-based platform which provides stablecoin swapping. Sun.io permits for the swapping of USDT, TUSD and USDJ.
Token mining:
Sun.io offers token mining to it users by its staking feature in addition to its locking characteristic.
{C} How can you optimize mining rewards by staking TRX and other TRC20 tokens in Sun.io? Examples?.
Stage 1;
Firstly you have visit the site which is the Tronlink.org to create a TronLink wallet, that is required to get admission to TRON-based DApps . To continue, definitely choose your platform (operating system). For this task , i'm using the Chrome store. Just click at the link highlighted herein to take you to the extension at the Chrome webstore.
Stage 2::
Right there on your Chrome browser, tap the Chrome extension, If this is successful, the TRONLink wallet icon have to appear at the list of your extensions, as proven above :
Stage 3 ::
You have to click at the TRONLink icon to set it up. And set up a password, developing or restoring your wallet (4) and developing a username,
Stage 4::
At this stage, your mnemonic phrase will be formed or created, These have to be stored properly and showed at the display screen that follows, Following this steps, now your wallet is ready, your can now receive any TRX or TRC20 tokens,
Stage 5::
You gonna visit thus webpage Sun.io and link or connect your TronLink wallet in order to carry out numerous tasks at the platform. On the home page, you'll find "Connect to wallet",which while you click on it's going to present the choice to connect with the TRONLink wallet, Clicking on this may offer the permissions dialogue, in which you are to click on connect icon,
By following this steps, you are fully ready to optimize your TRX rewards,
Stage 6::
Finally, when you have created an account, you have to optimize your TRX and different TRC20 tokens through staking or locking them on Sun.io. Doing that is a secure form of mining. However, earnings are slow and it takes a piece of time.
You can stake your TRX and TRC20 tokens through doing the followings,👇
At the Sun.io homepage, press the
Stake icon, and you will be directed to the staking page. stake or lock TRX or TRC20 tokens by depositing out of your TRONLink wallet the quantity of TRX or TRC20 tokens you want to stake. By clicking on "deposit", it will bring up the "Lock SUN", dialogue first, which is a greater profitable alternative with an Annual Percentage Yield (APY)of 23.35% and authority privileges. However, locked tokens cannot be withdrawn till the end of the locked period.
Conclusion
Understanding dapps, a program or a digital application which exist and process on a peer to peer or blockchain network of many computers instead of one computer, and it's not manipulated or controlled by a single authority.
I really learnt alot from this wonderful lecture that was made by @sapwood