Crypto Academy season4 Beginners course-Task 1:Tron Ecosystem by @srrebullient
Image designed by me with canva
INTRODUCTION
Hello great community, I welcome all of us to the steemit crypto academy season 4.
Before I proceed, I would like to, first of all, appreciate our noble professor @sapwood. Thank you Professor for all your efforts in the growth of the community.
QUESTIONS
What are the different dApps in the Tron ecosystem are you familiar with?
What are the uses of DeFi applications like Justswap, JustLend, and Sun.io?
How can you optimize mining rewards by staking TRX and other TRC20 tokens in Sun.io? Examples?
I will be taking the questions one after the other.
QUESTION 1
What are the different dApps in the Tron ecosystem are you familiar with?
The Tron ecosystem has about 1400 dApps on it with over 90,000 daily users.
I know a few dApps on the Tron ecosystem but currently, I'm more familiar with Steemit.
STEEMIT
Steemit is a decentralized social media platform based on steem blockchain which was originally founded by Ned Scott and Dan Larimer in July 2016.
Steemit was acquired by Tron on the 14th of February 2020 which now makes it a dApp on the Tron ecosystem.
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Other dApps in the Tron ecosystem which I'm familiar with include Wink, Forsage, etc.
WINK
Wink is a decentralized application based on the Tron ecosystem which deals with games, gambling, and a lot of other sports-related activities.
The current price of wink on coingeko is $0.00054444
and with a rank of 174. It is also actively tradable on binance.
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FORSAGE
Forsage Tron is a DApp smart contract based on the Tron ecosystem which works with users constantly registering people under them with their unique referral links in other to earn part of the Trons the users registers with. It can be regarded as a pyramid scheme.
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QUESTION 2
What are the uses of DeFi applications like Justswap, JustLend, and Sun.io?
Justswap
Justswap is a decentralized application based on the Tron blockchain which is primarily used for trading TRC20 tokens.
Justswap is used for easy swapping of TRC20 tokens.
screenshot from my TronLink Pro wallet
| Users | 4.94k |
|---|---|
| Transactions | 10.24k |
| Volume | $12.40M |
| Balance | $276.01M |
JustLend
JustLend is a decentralized app on Tron blockchain which allows users to borrow assets or lend in other to earn interests similar to what we do in various traditional market place.
| Users | 830 |
|---|---|
| Transactions | 1.60k |
| Volume | $1.31M |
| Balance | $249.06M |
Sun.oi
Similar to justswap but different in the sense that sun.oi also being a decentralized app on Tron blockchain is used in the swap of stablecoins, staking, and self-governance. Holders of sun token earn rewards through staking and are also rewarded with various rights on the platform such as the right to vote, value capture, etc.
| Total deposit | 629,387,636.49 |
|---|---|
| Daily volume | $7,579,138.29 |
| Deposit in stable coin pools | 9.21% |
| Stake | 86.10% |
QUESTION 3
How can you optimize mining rewards by staking TRX and other TRC20 tokens in Sun.io? Examples?
To optimize mining rewards by staking TRX and TRC20 tokens in sun.io, firstly install the Tronlink pro wallet.
I already have it installed in my phone before now.
screenshot from my Tronlink pro wallet
Go to sun.io and connect it to your tronlink pro wallet.
screenshot from my tronlink pro wallet
When you must have been connected to your Tronlink pro wallet as seen above.
Proceed to stake on sun.io
Among the various options, click on stake and it will show the interface where you can choose either stake or stake and lock.
When you just stake, you can withdraw at any time of your choice but when you lock and stake, you will only be allowed to withdraw at the agreed time of stake which is either 6 months, 1 year, 2 years, 3 years, or 4 years. The longer the locked period the higher the returns.
The APY of staking is much lesser than that of locking just as seen above because one can withdraw one's assets at any time which is not so with locking and users with locked assets also enjoy some voting rights.
CONCLUSION
Tron ecosystem has indeed been of great value and with it's versity, it covers almost every area of life such as finance, entertainment, education, socials and alot more.
The superb and vast features of Tronlink pro makes it much easier for users to have access, explore and utilize the benefits of various DApps on Tron ecosystem.
I still remain greatful to @sapwood for this wonderful course which have widen my knowledge on the Tron ecosystem.