JustSwap - Crypto Academy / S4W5 - Homework Post for @kouba01

Guys,
Welcome once again to my blog. This week I will be attempting the homework task given by professor @kouba01 after attending his lecture on the topic titled JustSwap. Let's get started.

JustSwap is a decentralized exchange that is built on the Tron blockchain with the main aim of transacting the TRC-20 token. This protocol use in the JustSwap enable users to swap their TRC-20 token with each other easily without a my form of external interference. With the supply of their liquidity to the platform, they become liquidity providers and hence earn some sort of passive income.

In other to determine the asset price in the liquidity pool, the JustSwap uses the relation X * Y = K. Now it is important to mention here that all those who provide liquidity to the platform are highly rewarded and this is to encourage them to keep providing more liquidity to the said platform. Now when ever a TRC-20 token is swapped in the platform, a total of 0.3% charges of the entire transaction is deducted which is use in turn to reward the liquidity providers.

We have earlier mentioned that the JustSwap protocol is built using the Tron blockchain, this implies that the platform will work better when use it with the Tronlink wallet and for that reason as we go further we will be carrying out some transaction as we connect our Tronlink to the JustSwap platform.

There exist many importance of the JustSwap in the Tron Ecosystem and below we will be discussing very few of them.

- Swapping: The JustSwap provides a feature where users of the platform can be able to swap their TRC-20 tokens with each other without any form of interference or third party.

- Provides Liquidity: The JustSwap has a feature where users can provide liquidity to the platform hence the JustSwap helps to provide enough liquidity to it users no matter the volume of the liquidity that is needed, the JustSwap is always equally to the task.

- Passive Income: As earlier discussed the JustSwap always provides a form of passive income to all those who are liquidity providers to the platform. Every TRC-20 women transaction has a charge attached and the fees collected by the platform is shared among the liquidity providers.

- Speed of Transaction: The Tron blockchain as we all know is highly very scalable and based on the amount of liquidity in the JustSwap, the transaction of TRC-20 tokens does not take much time to be executed.

The JustSwap platform has in it so many tokens both stable and non-stable coins. We are going to explore the platform briefly to see all the tokens available. But before then the list of all available tokens are seen thus; TRX, USDC, SUN, SUNOLD, NFT, BTC, WBTC, ETH, WETH, WBTT, WTRX, JST, WIN, DICE, LIVE, USDT, TUSD, LTC and HT. See screenshots below.

To determine the price of JustSwap token, the constant function X * Y = K is introduce. The X and the Y represent the first and the second token respectively which was selected by the trader. And the K is the constant introduce in the expression. If for instance token X increases in volume, then the token Y will decrease in value and verse visa. Now, as we earlier explained above when ever this par of trade is traded a certain % of fees is charged in this case 0.3% and these is then shared to all the liquidity providers.

Here in this section, I will be using the Trinlink mobile app which is already installed on my mobile device to perform the function. Now let's follow the steps below to achieve the result.

Firstly, lunch the the Tronlink wallet App on your device, then click on the option discovered as I have marked it in the image below.

Once you have click on the discover, a new interface will display showing some popular DAPPs, either you click on the JustSwap icon as indicated on the screenshot below or you click on the search bar and then search for JustSwap. See screenshot below.

Immediately you click the JustSwap icon it will redirect you to the JustSwap page. Now to connect or confirm your Tronlink wallet connection, then you have to click on the three parallel line at the right top side of the page.

Here on my profile the total value of locked asset in the JustSwap DApp is $1,431,391,862. This record was taken on the 6th day of October 2021. Below is the screenshot.

Here in this section I traded TRX for USDT. I used just a very few steps to interact with the platform. The first token selected is TRX and the next token is USDT. See steps and screenshots below.

Firstly, I incited the number of TRX which I wish to swap with USDT. 20 TRX was equivalent to 1.907095 USDT. The minimum I will be receiving is 1.897559 USDT and the liquidity provider fees was 0.06 TRX. See screenshot below.

At the end of the entire transaction, I discovered that the bandwidth of the transaction was 350 and the fee recorded is 6.77082 TRX apart from the initial charges of 0.06 TRX we say in JustSwap.

To add liquidity to a pool, follow the few steps below. While in JustSwap, click on pool as seen in the screenshot below.

Select your pair in my case I am using TRX and USDT and then enter the amount you wish to add to liqudity as seen in the screenshot below.

Confirm your supply and then authenticate your wallet and then you are good to go. See screenshots of procedure below.

JustSwap is no doubt a protocol that helps liquidity providers to earn passive income. This platform is use to trade TRC-20 token as we have earlier mentioned above. This platform is unique because it can be access by anyone at anytime and more also it rewards it's liquidity providers with the fees which is charge on every transaction that is carried out on the said platform.

Transactions here have proven to be very fast as there are always available liquidity no matter the volume that may be required. The platform also is very scalable as we have earlier mentioned. Thank you professor @kouba01 for such an educative lecture, I do hope to learn more from you in no distance time.