Sun.io: Sunswap, Integrated stablecoin swap, Staking, Mining, veSUN, etc - Steemit Crypto Academy - S5W1 - Homework Post for @sapwood

in hive-108451 •  2 months ago 

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Question 1 - Discuss the various features of Sun.io, a comprehensive DeFi facility of Tron family?

Sun.io is one of the many and top platforms in the Tron ecosystem that has gained a lot of growth since it was introduced into the Tron ecosystem and has since risen to become one of the top protocols not only in the Tron ecosystem but in the crypto and DeFi space in general. Sun.io platform is basically an integrated platform protocol that allows for stablecoin swap, stake-mining and self-governance on tron network.

Features of Sun.io platform

The Sun.io platform has its main features such as the SunSwap, Stake, Governance, Airdrop, Century Mining, Swap Stablecoin and SUN Pools. To explore the Sun.io features, I will be visiting the Sun.io platform at https://sun.io

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Screenshot from Sun.io

SunSwap

The sunswap feature is basically the decentralized exchange protocol on the sun.io platform that allows for swapping between TRX and tron-based tokens. As a fully independent decentralized exchange protocol, Sunswap comprises of main features such as;

Swap

The swap feature allows users to swap between the different tron tokens such as TRX and other supported tron-based tokens.

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Screenshots from Sunswap

Pool

The pool feature allows for adding liquidity to the pool which allows users to become liquidity providers on sunswap protocol. Both assets for providing liquidity is added to the Sunswap protocol at a 50/50 ratio.

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LP pools

LP pools on sunswap is basically for mining and allows users of the protocol to stake their LP tokens on SunSwap platform and earn rewards. There are different LP mining options that users can select from to stake and earn rewards based on the determined APY.

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Scan

The scan is a section on sunswap that basically allows users to explore the different statistics and details of the different trading pairs on sunswap. Users can also make a search of the trading pair. On the scan section, users can view transactions in 24hrs, new pairs in 24hrs, view the different trading pairs, view the volume and liquidity in 24hrs etc.

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SUN swap

This feature on the sunswap protocol allows users to exchange their SUNOLD tokens to the upgraded SUN tokens at an exchange rate of 1 SUNOLD = 1,000 SUN.

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Burn SUN

This section on the sunswap protocol gives the insights on the SUN Buyback and Burn. It shows statistics such as total SUN bought, SUN bought but not burned, total SUN burned, and the Burn history.

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WTRX and WBTT

The WTRX section allows users to exchange their TRX tokens to WTRX tokens at an exchange rate of 1 TRX to 1 WTRX. And the WBTT section allows users to exchange their BTT tokens to WBTT at an exchange rate of 1 BTT to 1 WBTT.

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Help center

The help center section on the sunswap protocol allows users to get more useful information and insights about the sunswap platform.

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Stake

The stake feature on sun.io basically allows users to stake different assets and earn rewards. The stake feature gives users multiple staking options so as to unlock rewards. On the stake feature, there are 2 main sections; users can either partake in the SUN locking by locking their SUN tokens for multiple rewards or partake in the Liquidity Pools by holding veSUN to speed up mining.

SUN locking

Users can partake in the SUN locking by locking their SUN tokens for multiple rewards. Locking SUN to earn veSUN. Users who lock veSUN gets the chance to partake in the governance mining which at the moment was split into 2 phases. The phase 1 was already completed and the current phase is phase 2.

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Liquidity pools

The liquidity pools allows users to partake in the Liquidity Pools by holding veSUN to speed up mining. At the moment, there are 3 liquidity pools options available for users to stake and earn. The 3 liquidity pools options are 3pool LP, USDC LP and SUN-TRX LP. Each of the liquidity pools options have their own APY. The 3pool LP allows users to stake equal amounts of all 3 stablecoins to earn rewards. The USDC LP gives users the ability to earn 3SUN. The SUN-TRX LP gives users the ability to stake SUN-TRX and earn SUN.

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Governance

The governance features gives users the ability to vote in order to decide the weights of liquidity pools. Based on the info on the platform, the governance will take effect on 2021-11-25 01:00:00 (SGT). The other sections are;

APYs of Liquidity Pools - This section shows the current weights and APYs of the available liquidity pools such as effective weights of the current cycle, current APY, latest weight and estimated APY for the next cycle.

The platform voting data - This section shows all the total veSUN votes and the total veSUN votes cast.

My votes - This section which is where the wallet holder/user can select from any of the liquidity pools to vote on by entering percentage of votes. The my votes section will show the current votes and votes used by the wallet holder/user.

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Airdrop

The airdrop feature is basically where users can claim airdrops. veCRV holders has the chance to get a share of the SUN airdrops every week.

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Century Mining

The century mining feature has two main sections; previous and new. The previous shows all the ended LP. The new is where users can mine from the available LP which is the current mining on sun.io.

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Question 2 - Visit Sunswap and scan the different LP pools? How many different LP tokens are available in Sunswap? Based on the available data in Sun scan, how much fee did it generate in the last 24 hrs? What percentage of that fee is being utilized to buy back and burn SUN?

Different LP Pools on Sunswap

To explore the different LP pools on the sunswap, visit the sunswap protocol directly at https://sunswap.com or on Sun.io platform, click on sunswap from the navigation links. On the sunswap interface, select LP Pools from the menu options to explore the different LP pools that are available. At the moment, there are 9 LP pools available on sunswap. The available LP pools on sunswap are;

  • USDT-TRX LP
  • WBTT-TRX LP
  • NFT-TRX LP
  • USDJ-TRX LP
  • TUSD-TRX LP
  • USDC-TRX LP
  • BTC-TRX LP
  • ETH-TRX LP
  • WIN-TRX LP.

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Different LP tokens on Sunswap

To explore the different LP tokens available on the sunswap, on the sunswap interface, select Scan from the menu options to explore the different LP tokens that are available. At the moment, there are 116 LP tokens available on sunswap. Below are some of the available LP tokens on sunswap;

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Fee generated in the last 24 hrs

To explore the data on sunswap, on the sunswap interface, click on Scan or visit the page here. On the Scan page on sunswap, scroll down to view the trading pair section, on SUN-TRX, the fees generated in the last 24hrs was $11.6892

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Percentage of fee being utilized to buy back and burn SUN

For the percentage of fee being used to buy back and burn SUN, 1/6 of the transaction fees is used to buy back and burn SUN so as to help increase of its value overtime. 1/6 = 16.67%. Therefore 16.67% of the transaction fees is being used to buy back and burn SUN. For SUN-TRX, 16.67% of $11.6892 = 1.94858964. Therefore, 1.94858964 is used from the SUN-TRX pair to buy back and burn SUN.


Question 3 - Stake SUN to obtain veSUN. Demonstrate the entire process with a real transaction?(Screenshot required)? Include the resource consumption statement, take the help of Block Explorer?

Staking SUN and obtaining veSUN is a straight forward process on the sun.io platform. Before being able to stake SUN to obtain veSUN, you must already have SUN tokens in your connected tron wallet. For me, I already have 100 SUN and will be staking it to obtain veSUN.

On the https://sun.io platform homepage interface, click on Stake

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On the SUN Locking section, click on lock SUN to get veSUN.

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Next, enter the amount of SUN tokens you want to lock and select from the the Expiry date options. For me, I inputted 100 SUN for staking and selected 6 months expiry date. Click on deposit

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Next, sign the trigger smart contract call on the tronlink wallet to execute the transaction. The estimated fee and resources needed will be displayed.

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Once the transaction has been sent, wait for a few seconds for the smart contract to be executed and approved on the blockchain.

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After the smart contract transaction is executed successfully and approved, the amount of SUN staked will be displayed on the SUN locking section of the sun.io interface.

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To view the resource consumption statement, we will visit tronscan platform to access the transaction details. If the transaction is successful and confirmed, the results will show successful and the status will show confirmed. Scroll down to view the resource consumption statement of the smart contract transaction. Link to the transaction here

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Question 4 - What is veSUN? What is the 3-in-1 benefit of holding veSUN tokens?

veSUN

On the tron ecosystem, veSUN is basically a governance token or what is used by users in the ecosystem to partake in governance. One of the main ways users can obtain veSUN is to stake SUN through the Governance Mining on sun.io. Currently, the governance mining is in phase 2 after phase 1 ended, allowing users to lock their SUN to obtain veSUN. The current phase 2 of governance mining allows users to earn multiple rewards by extending their voting rights. When locking SUN to obtain veSUN on sun.io, users can choose the specific timeframe to lock their SUN and expiry date. From the expiry date options on sun.io platform, users can choose to lock their SUN for a minimum of 6 months or a maximum of 6 years. The amount of SUN locked and the expiry date timeframe is used to determine the amount of veSUN that will be earned.

Once a user obtains veSUN by locking SUN, the user now has voting rights on the platform to vote. veSUN holders can make use of the veSUN to perform certain activities on the sun platform such as choosing a liquidity pool to vote on and deciding on the weights of the liquidity pools and earn rewards. Also, users who own veSUN can increae Mining speed with the veSUN, giving users the abilty to have more mining capacity and earn extra rewards. Another benefit of holding veSUN in the tron ecosystem is that, users who hold veSUN get rewarded from the percentage of the transaction fees of the stablecoins swap that are distributed to all users who hold veSUN.

3-in-1 benefits of veSUN

Users who obtain and hold veSUN by locking SUN gets rewarded by the benefits that comes with holding veSUN. The 3-in-1 benefits for holding veSUN are;

  • Users who hold veSUN earn stablecoin as rewards. Users earn from the 50% rewards that is generated from Stablecoin pool transaction fees and is distributed to all the users who hold veSUN.

  • Users who hold veSUN can make use of the veSUN to choose a liquidity pool to vote on and deciding on the weights of the liquidity pools and earn rewards.

  • Users who hold veSUN can the capability to boost or increase their mining speed in the liquidity mining pool to a max speed of 2.5. Increasing the mining speed allows the users to earn even more rewards.


Question 5 - What is stablecoin swap facility in Sun.io? How many different stablecoins are supported in the SUN platform? What is its use in the context of staking & mining?

Swap Stablecoin feature in Sun.io platform basically allows users to perform swap transactions between the different supported stablecoins. The supported stablecoins on sun.io platform are; USDC, USDJ, TUSD and USDT stablecoins. To make use of the Swap Stablecoin feature in the sun.io platform to swap between the different supported stablecoins, the user must have to connect their tron wallet to the sun.io platform here https://sun.io and must have 1 of the supported stablecoins before being able to swap to another stablecoin. Each stablecoin has its exchange rate which includes the fees and swap trade is routed through the 3pool. Users can make use of the swap stablecoin feature to swap between the supported stablecoins on the platform easily and efficiently with low slippage.

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Screenshots from sun.io

Supported stablecoins in the SUN platform and its use in the context of staking and mining

At the moment, there are 4 stablecoins that are supported in the sun.io platform. The supported stablecoins are; USDC, USDJ, TUSD and USDT.

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Staking - 3pool LP and USDC LP

The 3pool LP and USDC LP are the two stablecoin that is used in the context of staking on sun platform. The 3pool LP consists of 3 stablecoins USDT-USDJ-TUSD. This allows users to provide liquidity in the 3 different stablecoins in equal amounts and receive 3pool LP tokens and earn SUN. The USDC LP allows users to stake USDC LP tokens to earn SUN. Each of the LP has its own APY range and weight.

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Screenshots from Sun.io

Mining - USDT-TRX LP, USDJ-TRX LP, TUSD-TRX LP and USDC-TRX LP

For the mining, this can be done from the sun.io platform by visiting the LP Pools on sun platform. AT the moment, there are 4 stablecoin mining available on the sun platform. The stablecoin mining available on the sun platform are; USDT-TRX LP, USDJ-TRX LP, TUSD-TRX LP and USDC-TRX LP. Each of the LP has its own APY rewards to be earned.

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Screenshots from Sunswap

Conclusion

The Sun platform and ecosystem is great and provides a lot of benefit to its users and a great way for users to earn rewards from different ways on the platform. Users can partake in various activities on the sun platform such as staking, mining to earn rewards. Also aside from earning rewards from the sun platform from staking and mining, users can also obtain veSUN by locking SUN so as to have voting rights on the platform to perform certain activities on the sun platform such as choosing a liquidity pool to vote on and deciding on the weights of the liquidity pools and in turn earn rewards.

@sapwood

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