Crypto Academy Season 4 Advanced course week 5: JustSwap by professor @kouba01

Just Swap protocol is a leading DeFi platform based on the tron network providing users with a definite solution related to crypto-based financial issues such as swapping, pool liquidity, and exchanging TRC20 tokens on its DEX platform.

I will be exploring the platform interface which will serve as a guide to users just visiting the platform for the first time.

Swap

Swapping allows users on Just Swap to exchange TRC20 tokens to another alternative TRC20 token on this section users can easily swap tokens without waiting for the order book to be filled like in centralized exchanges where a trader has to wait for traded orders to be filled TRC20 token like TRX, BTT, WIN, SUN and more can be exchanged to TRX and vice versa.

For a user to use the swap section they need to connect their wallet to the platform website protocol this will make it easier for users to exchange and complete transactions using Just Swap tron link wallet is best used by users/traders to complete these swapping process on Just Swap.

Subsequently, we can also observe on the Swap interface the number of available totals locked up value on Just Swap this is to provide users with transparent information about the transaction/locked up value generated on the platform protocol.

Pool

In the pool section funds are provided by liquidity providers ( LP ) these funds are used to facilitate trading, lending in the Just swap platform.

Traders who perform trading activities in Just Swap will generate profit for the liquidity providers using their trading fees.

From the screenshot below we can see an option provided for users to add liquidity on the Just Swap platform any user can provide liquidity on the platform once they reach the requirements standards of the platform.

Scan

This section allows users to search for important information such as transactions, the volume of transactions, and the number of provided liquidity recorded on Just Swap, users can search for transactions by entering names or pasting a transaction address.

The below screenshot shows a sectional view of the scan interface the price of TRX, several pairs, the total number of transactions, and the new pairs added on the Just Swap platform can be viewed in the scan section.

SUN Swap

In this section, users can swap their Old SUN token to New SUN token, this new SUN token can be mined for reward on the platform.

For a user to completely use this feature they will be required to connect their tron link wallet this will enable them to complete transactions on the platform.

WTRX and WBTT

These are token TRC20 based tokens on the tron network they are also referred to as pegged TRX and BTT tokens which means they have the same price as TRX and BTT a trader/investor can choose to hold WTRX or WBTT in place of TRX or BTT.

Help Center

Users' complaints can be attended to in this section.

Language support can also be navigated with different social networking platforms where users can connect to stay updated with the Just Swap announcement and latest updates.

Importance of Just Swap platform

• An important use of the Just Swap platform is providing users with the swapping feature where traders/investors can be able to swap all kinds of TRC20 tokens instantly without the need to wait for order book filled for alternative traders.

• Just Swap provides users with earning opportunities by providing liquidity, on the platform users can earn from conducted transaction fees processed on the platform.

• Fast and efficient transactions with just swap instantaneous transactions are completed with a low transaction fee compared to a centralized exchange.

• On just Swap platform users can have access to important information about the tron network where transparent information about transactions, total assets value lock, and volumes of transactions conducted on the platform is made available to users.

Tokens supported for trading on the JustSwap protocol platform are TRC20 tokens these tokens include TRX to BTT, TRX to SUN all the listed tokens are based on TRC20 smart contract.

How is the price of a JustSwap token determined (how it works)? Use an illustration to explain it. (screenshot required)

In other to determine the price of a token in each pool.

The first step is to know the total number of tokens in such a particular pool.

Each pool has two tokens, let's say token 1 = x
while token 2 = y

This implies that on any liquidity pool a user will need to provide liquidity on a particular token to earn another token

The formula used for determining the price of a token in Just Swap is as follows.

x × y = k

Where x = number of tokens 1 in pool

And y = number of tokens 2 in pool

k = constant variable

Below is a screenshot of a simple calculation to determine the price of a token.

The price of a token can also vary depending on the number of token in each pool, i will be increasing the price of token x and reducing price of token y where k remains constant

By increasing x it is observed it price increase and by reducing y it price also was reduced.

It also applies when number of x is reduced y will increase.

Connecting Just Swap with a wallet can be done from the web using a chrome browser extension and through the use of a mobile wallet ( TronLink wallet )

Connecting wallet on web browser

Here a user who will be connecting Just Swap with a web browser wallet will need to download the Tron Link web extension once done the following steps will be followed.

First step from just swap webpage link a user will navigate the connect wallet section by clicking on the icon on the top right corner.

Step two Options will be provided to select wallets suitable for completing the task choose Tron Link wallet which has already been installed.

Step three is to set up the Tron Link wallet password by creating an active wallet account.

Last step create an active wallet account and password your wallet will be connected automatically with the Just Swap* web page.

Connecting wallet on mobile

This process is much easier all a user is required to do is download Tron Link mobile wallet from the play store and install it on their mobile device.

On successfully downloading and installing the Tron Link wallet

To connect the app with Just Swap a user will navigate the below, icon from their wallet.

From the Discover icon users can have access to multiple Dapps.

Search for Just Swap once a user clicks on the Just Swap they will be automatically connected to the Just Swap protocol from their wallet.

Clicking on the Just Swap will connect user authentically to their wallet.

Tron Link wallet is an official mobile app that can be used by users to connect with the just swap protocol to compete for various transactions.

In this section, I will be swapping TRX to WBTT

• From Just Swap I will be accessing the Swap section, where I will be exchanging my TRX for WBTT

Below is a screenshot of my TRX balance, I will be swapping 30 TRX for 774.215315, on filling out the above order I will click on the Swap Icon.

• Next I will be confirming my transaction by clicking on Confirm swap

• Authorization tips I will be choosing the safe mode to secure my transaction with a password by clicking on continue

• Click on confirm to complete the transaction

• Below shows the transaction has been successful, I will be receiving the assigned WBTT on my wallet balance.

Here is the balance of my swapped WBTT on my wallet balance.

From Just Swap clicking on Pool which will be used for adding liquidity tokens.

• The above screenshot shows the number of TRX and NFT token input I will be adding liquidity on.

As seen 10 TRX is equivalent to 253899.1982 NFT token this means both tokens that will be provided for liquidity should be equal.

• Next I will be confirming the transaction by clicking on the confirm icon

• Liquidity has been successful add

Conclusion

Just Swap isn't just a protocol but a platform connecting millions of users across the globe to make seamless transactions without the requirements of KYC, users can connect their mobile device installed wallet app from any part of the world and make a transaction such as swapping any TRC20 based token, providing pool liquidity which can be used to earn extra income.

The platform presents users with a very simple users interface that allows users to navigate the platform easily with a well-presentable tool.