Crypto Academy Week 15 | Homework post for [@sapwood]..Liquidity Mining (Tron- Sun.io)
(1) How do I connect my TronLink Wallet to Sun.io?(Screenshots needed)
I easily get my Tronlink Wallet connected to Sun.io with the help of Tronlink wallet app using the steps below:
- I open my Tronlink wallet, and click on Discover
- While at the Discover page of the list of DApp I search on sun.io in the search bar.
- I clicked on Enter to accept the user agreement and policy
- After clicking on Enter my Tronlink wallet get connected automatically to sun.io
- At the menu tab right I clicked on it to see my Tronlink Wallet address.
(2) Whatt are the different liquidity mining pools? Which one offers the highest APY? How many different rewards do I get by staking LP token? (Screenshots needed)
There are 9 different liquidity mining pools which are available in sun.io.
|Liquidity Mining Pool||APY%|
Here are the screenshots of the 9 available liquidity pools below:
Which one offers the highest APY?
SUN-TRX LP,is the one that offers the highest APY 36.18, which is shown in the screenshot below;
How many different rewards do I get by staking LP token?
The different token rewards I get for staking LP token are 6,which are; TRX, JST, WIN, SUN and BTT. and BTCST.
(3) How do I obtain LP Token by adding liquidity in Justswap? What is the quantity(Explore through your wallet/Tronscan)?(Screenshots needed)
To obtain token by adding liquidity in Justswap,Is to used the simple steps below:
- I opened my Tronlink wallet and click on Discover
- At the Discover page, I clicked on Justswap on the list of DApp
- I clicked on Enter and accept the agreement & policy
- I then switch to pool and then I clicked on Add Liquidity
- I selected USDT-TRX to supply 10 TRX
- I then clicked on confirm supply
- I input my password and clicked on Continue
- After I have clicked on continue it now show Liquidity Added.
What is the quantity(Explore through your wallet/Tronscan)?(Screenshots needed)
After I successfully added the liquidity, the quantity of LP token obtained on my wallet/Tronscan is 12.135665 USDT/TRX.
Supply: 10 TRX and 12.135665 USDT.
Transaction type: TRC20 Transfers.
Bandwidth consumed: 383 Bandwidth.
Energy consumed: 60,902 Energy.
TRX burned to accommodate the Energy: 8.52628 TRX.
(4) How do I stake LP Token to earn five different tokens on Sun.io? (Screenshots needed)
The steps below and screenshot is how I do stake LP Token to earn five different tokens on sun.io.
- I open my Tronlink Wallet app and click on Discover
- I searched on sun.io and clicked on i and my Tronlink wallet get connected.
- On the homepage of sun.io I select the liquidity mining pool of USDT-TRX LP
- I clicked on Approved USDT-TRX LP
- I input my password and clicked on Done
- After inputting my password it get Approved and I then clicked on Stake and the amount of LP token as 12.135665USDT/TRX.
- I then input my password and clicked on Done before the transaction became successfully.
(5) Which reward(out of five different rewards) can be withdrawn at any time? How do claim that (indicate that in the screenshot)?
Out of the five different rewards is only Sun rewards that can be withdrawn at any given point in time. The rest of the rewards are undistributed rewards that only distributed on weekly basis for 24 week.
How do I Claim the rewards from my Staked LP Tokens
To claim the rewards from my staked LP Tokens I went through the steps below:
- While on sun.io homepage, I clicked on the Manage button of USDT-TRX LP
- I then switched to Claim.
- After that i clicked on the claim button.
- I confirmed the transaction by supplying my Tronlink Wallet password before clicking on done and it show Transaction Submitted.
- The sun rewards now reflected on my Tronlink Wallet and Tronscan.
(6) What is the schedule of unlocking the mining rewards? Indicate the total undistributed/distributed mining rewards in the screenshot?
The schedule of unlocking the mining rewards is on a weekly basis for a period of 24 weeks. And also, the total undistributed/distributed mining rewards is <$0.001 which is shown on the screenshot below;
(7) Include the real example of your interaction with Justswap and Sun.io as required in this task? Indicate how a "stake"(in Sun.io) function consumes different "Energy & Bandwidth" than "obtaining LP token" (in Justswap)? You should add/remove a small amount of liquidity to obtain/redeem your LP token(as little as 1 USDT worth)? (Screenshots needed)
In sun.io liquidity mining pool, my Staked is 12.135665 USDT/TRX which I use an earn the liquidity mining reward of the 5 tokens.
Bandwidth 313 and 71,575 Energy consumed Burn TRX 10.0205 (in Sun.io)
In Justswap,I obtained 12.135665 USDT/TRX LP tokens, which was also reflected on Justswap.io.
Bandwidth 383 Energy consumed 60,902 Burn TRX 8.52628 (in Justswap)
Comparison of the Bandwidth/Energy consumed by Sun.io staking and obtaining LP token on JustSwap.io
From the information on the table above, it shows that Sun.io consumed more Bandwidth, Energy and Burn TRX than Justswap.
(8) How do I unstake LP token and claim mining rewards(Sun.io)?
I unstake my LP token and claiming mining rewards using the steps below.
- While on Tronlink wallet, i visit Sun.io
- I clicked on Manage on the USDT-TRX LP and I switched to Claim.
- I then clicked on Max and proceed to clicked on the Claim & Unstake.
- I enter my password and clicked on Done, then I see Transaction submitted
- I then view the transaction on Tronscan to see it is successfully.