Passive Income on TRON - Liquidity Provider - HOW MUCH
Since we also earn TRX for posting on Steemit, you might be interested in ways to earn extra on your TRX. In this post, we explain how much you can earn by providing liquidity on Justswap.
Justswap.org is a decentralized exchange on the TRON blockchain. You can trade TRX, Bitcoin, Just, ETH and many other cryptos. A huge benefit is that you hold your crypto in your Tronlink wallet and that you have a full custodian over your coins.
My liquidity provider journey
A month ago, I started my journey of becoming a liquidity provider to earn passive income. I have provided some ETH and TRX and today we will find out how much I earned and if it is actually worth it. I am planning on leaving it in there for the next months and hope to be able to sell near the top of the bull market (we all do right). So finding out if it is lucrative, is crucial.
How much did I earn?
I bought 7.59 ETH and matched it with 298100 TRX for a total of 181426.3581 pool tokens. (January 7th). This was exactly 1% of the total liquidity in the TRX/ETH pool on justswap.org at that time and still is today. This means I earn 1% of the fees that people pay to swap TRX for ETH and vice versa.
I bought 7.59 ETH, that time it was worth 1069$ a pop. Total: $ 8113,-
I had the 298100 TRX, so let's just match it as you have to provide 50/50 liquidity. $ 8113
So my total investment was $ 16226 on the 7th of January.
What I have today:
ETH: 7.438 = -3.26%
TRX: 333403.1594 + 11%
So I lost some ETH but gained more TRX. This was because the ETH price rose more than the TRX price the past month. (impermanent loss)
11% - 3.26% means I earned 7.74% the past month. Which is in my opinion AMAZING. Just to provide some ETH and TRX, I earned over 7.74% more crypto.
How much in USD?
I have 7.74% more crypto, but how much monies have I made, by just waiting and doing basically nothing?
ETH 7.438 at $1567 = $11655
TRX 333624.2913 at 0.035= $11625
Total: $ 23310. This month's increase from $ 16226 is 35.8%.
We will be updating this month after month for as long as we keep the liquidity in there. In my opinion, it is a great way to earn some extra crypto and keeps me from FUD selling. A 7.74% increase in a month is great and probably the best yield at the moment.
Do you provide liquidity on Justswap?