Crypto Academy Season 4 Beginners' course - Task 1: Tron Ecosystem By @osolife
WHAT ARE THE DIFFERENT DAPPS IN TRON ECOSYSTEM ARE YOU FAMILIAR WITH?
WHAT ARE THE USES OF DEFI APPLICATIOS LIKE JUSTSWAP, JUSTLEND AND SUN.IO?
HOW CAN YOU OPTIMIZE MINING REWARDS BY STAKING TRX AND OTHER TRC20 TOKENS IN SUN.IO? EXAMPLES?
Source
Tron ecosystem consist of different Dapps, i will be choosing 3 different dapps among them in tron ecosystem
STEEMIT
Steemit was launched in the year 2016 under steemblockchain and it is a decentralized platform whereby it's users or users in the platform creates quality post or content, blogs and they will eventually get rewarded with cryptocurrency ( Steem coin ). Steemit do not only reward it's users with steem coin, they als0 reward users with SBD ( Steem backed dollar ) and Tron coin.
To perform actions on steemit platform, user need to have steempower, the more steem power you acquire, the more influence you have on steemit platform. Also, the more steem power you acquire, the you voting value increases, this is to say that, steemit is a business of steem power. Having steem power will also allow you to post, comment, resteem and vote.
To view the value of steem coin, you have to explore Coinmarketcap This is a site that shows or displays the value of cryptocurrency.
| Steem price | $0.5898 |
|---|---|
| Rank | 307 |
| Marketcap | $231,753,120 |
| Trading volume 24h | $6,477,141 |
| Fully diluted marketcap | $242,139,304 |
| Circulating supply | 392,727,983.55 |
| Volume / market cap | 0.02833 |
| Website | Steemit.com |
USWAP
Uswap is another Dapp in tron ecosystem. It is also a decentralized exchange formed under tron network. Uswap is an exchange platform that works on smart contract, which gives it's users permission or permits it's users to trade on cryptocurrency or can also swap or exchange crypto tokens. In other words, making use of uswap does not require you creating account, no kyc involved or adding address, This simply means that one can trade on cryptos using your wallet to connect with smart contracts instantly.
Click HERE to visit it's official website.
WINK
Wink is another DApp in tron ecosystem. It is aslo a decentralized socail media platform that was built by CTO Nathan in the year 2014. It is a social media platform based on blockchain which allows users to stake or bet with cryptos with low transaction fee. Wink platform has it's own coin which is WINK COIN.
Furthermore, wink is a gaming platform that enable users to play, stake and aslo socialize around many blockchain ecosystem. Wink has created something unique, a behaviour mining as well as innovative tokenomics. Wink helps to build an ecosystem which give high quality decentralized gaming knowledge, which enables developers to create depths that drives real mass adoption and engage users to participate and contribute as active members of the community. Wink token is also built on the tron blockchain.
To visit it's official website click the link HERE
| Price | $0.0006996 |
|---|---|
| Rank | 147 |
| Trading volume 24h | $224,536,749 |
| Marketcap | $535,365,631 |
| Fully diluted marketcap | $698,075,136 |
| Circulating supply | 766.15B |
| Volume / Market Cap | 0.4176 |
Defi simply means Decentralized finance. It's a system that operate without involvinv any third party. It works on its own, traders mostly use it to trade, swap and lend cryptocurrency and transactions are very fast.
JUSTSWAP
Justswap is a decentralized exchange that is based on Tron network which gives users the opportunity to run exchange using Trc20. Trc20 token can be swapped by making use of justswap. In short, Justswap is the primary defi swapping site for the tron blockchain.
To visit it's official website, Click the link HERE
JUSTLEND
Justlend is a decentralized lending platform which works through peer to peer system in tron network. In justlend platform, users are given thr opportunity to borrow token, lend or deposit token.
To visit it's official website, click the link HERE
SUN.IO
Sun.io perform as a cryptocurrency in tron network and it's seen as the first ever swapping platform used to swap stable coin in tron ecosystem.
To visit it's official website, click the link HERE
To optimize mining rewards by staking TRX, below are the steps to do that. We also need tronlink wallet app to help us connect sun.io
Now, the first steps to take is installing Tronlink wallet on your device. Although I have mine already installed, so if you don't have it, you have to downlaod and install it from your playstore, then import your tron account to the tronlink wallet.
Now, open your browser, click the search button and search on sun.io. When thr homepage opens, you will be asked to connect your tronlink wallet so that you can be able to stake. To do that click on the connect button, then click on tronlink wallet to connect.
Once it's connected, go to stake, click it then click on lock sun to get veSUN, by doing so, you can now optimize your reward by staking. See screenshots below.
CONCLUSION
I really thank professor @sapwood for a well detailed lecture about tron ecosystem, which i was able to gain some knowledge from it. Thanks for going through my post.
Cc-
@nane15
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