Hello Steemians, how are you all doing? I'm so excited for the new season and proud to be a member of this academy. Prof @sapwood gave a detailed study on the Defi platform Sunswap.com (justswap acquired by sun.io) to start the season's first-week lecture. I will be doing the homework tasks from the lesson.
Question 1: Discuss the various features of Sun.io, a comprehensive Defi facility of the Tron family?
Sun.io is a Defi platform of the Tron ecosystem that provides different features like the SunSwap, staking, governance, etc. Sun.io is the first Tron platform that allows for the swapping of stable coins. With the acquisition of Justswap to Sunswap, Sun.io has become the top Defi platform in the Tron ecosystem.
The implications of Sun.io acquisition of Justswap means that the Sun.io platform has become a one-stop comprehensive Defi facility of the Tron network. The Sunswap feature present on the Sun.io platform will support all Tron (TRC 20) tokens direct transactions and provide liquidity with a better user experience. It also makes things easy for the liquidity market makers.
The integration of Sun and Justswap means the Sunswap platform is a DEX that allows for mining, swapping of stable coins, and supports more staking pools on the Sun platform.
The Features of the Sun.io platform are outlined below.
This is a DEX platform present as a feature on the sun.io Defi platform, with its latest version being the V1.5. The Sunswap has its features, namely, Swap, LP Pools, Scan, SUN Swap, Burn SUN, WTRX, and WBTT. Each of these features is present on the SunSwap platform.
The Swap feature on the SunSwap platform is divided into 2 parts Swap and Pool. The Swap part of this feature is where the direct exchange of all Tron tokens and Stable coins is swapped directly, as shown below. Also, the total value locked is displayed on this page. As of this writing, the total value locked is given as $1,865,611,403.
The pool part of the Swap feature lets users of the platform provide liquidity hence becoming liquidity providers.
- LP Pools
When liquidity providers (LP) add liquidity to any pair, they receive LP tokens. These LP tokens can be staked in the mining pool to receive mining rewards from the mining pool.
The LP pool feature on SunSwap allows LP tokens holders to stake their LP tokens on the respective mining LP pool. Examples of LP pools present include USDT-TRX, WBTT-TRX, NFT-TRX, etc. Each mining pool has a different Annual Per Yield rate (APY). So, for example, a liquidity provider with LP token USDT-TRX will stake it on the USDT-TRX LP Pool.
The scan page shows details of the TRX token, its price, number of trading (which is 17,496 as of this writing), liquidity, trading volume, as well as latest transactions. Users can also search for a trading pair on the Scan page to get an overview analysis of the pair, including a candlestick chart as shown below.
Here the USDT-TRX pair was searched, and details include the pair total liquidity, 24 hrs volume, number of transactions in the last 24 hrs, and pooled tokens. In addition, the exchange rate of the pair is also shown, and a candlestick chart is displayed.
- SUN Swap
This feature allows for the direct swapping of SUNOLD tokens to the SUN token. The SUNOLD token is the old token of the SUN platform, and its exchange rate with the SUN token is equal to 1.
- Burn SUN
For every transaction done on the Sun.io platform, a fee of 0.3% is charged. 1/6 of the set fee is used to buyback SUN, and the bought SUN is Burn. The Burn SUN feature shows the Total bought SUN, Bought SUN not Burned, and Total Burned.
On this page, the exchange of WTRX with TRX is done on the platform. WTRX is the wrapped token of TRX. Usually, wrapped tokens are tokens used wrapped to be present on another blockchain. So, the exchange of WTRX to TRX is equal to 1.
WBTT is the wrapped version of the Bittorent token and the exchange of the WBTT token and the BTT token. The WBTT token allows users to transact the BTT token on the Tron blockchain.
The Stake feature on the Sun.io platform is where users and holders of the SUN token can lock their SUN token in return for the governance token veSUN token (Vote Escrowed SUN) as rewards. The SUN locking is given from a period of 6 months - 4 years, and the longer the period of locking, the higher the reward.
There are also 3 selected pools on the Stake page that users can stake their assets to help speed up mining. The first pool is the 3pool LP, where users can stake their stable coins to earn SUN. The second pool is the USDC LP where users can stake their USDC LP tokens for SUN. Finally, the third pool is the SUN-TRX LP, where holders of the SUN-TRX tokens are staked on the SUN-TRX LP pool to earn the SUN token.
The Governance page shows the weight of each of the liquidity pools, and the holders of the governance token can vote on the weight of the liquidity pool. The next voting cycle starts on the 18th of November 2021.
As of this writing, the SUN-TRX LP Pool has the highest weight for this cycle with 48.16%, 3Pool LP with a weight of 36.80%, and the USDC LP weights 15.04%.
The Airdrop feature shows the plan for SUN to be distributed to the holders of veCRV of the Curve DA O members. The Airdrop period will last for 52 weeks, and SUN will be shared with the veCRV holders, which will be done according to the amount of veCRV held by the user.
The century mining feature shows details of ended mining pools and provides the withdrawal link for users who participated in any of the completed mining pools to withdraw their supply and rewards. In addition, a new model is available for mining on the 3POOL LP, SUN-TRX LP, SUN Stake, and Lock on the century mining feature page.
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?
The Different LP Pools Present On The Sunswap Platform
To check for the different LP pools present on the Sunswap platform, we will visit the Sunswap mining link.
There are 9 different LP pools, namely, USDT-TRX LP, WBTT-TRX LP, NFT-TRX LP, USDJ-TRX LP, TUSD-TRX LP, USDC-TRX LP, BTC-TRX LP, ETH-TRX LP, and WIN-TRX LP.
Scanning The Different LP Pools
The USDT-TRX pair has the following details s seen on the scan feature of the sunswap platform. Total Liquidity is $221,430,446, Volume (24 hrs) is $32,669,401, Transactions (24 hrs) is 14,345, and the Total pooled tokens is 999,346,952.6679 TRX and 110,973,511.3858 USDT.
The WBTT-TRX pair has the following details s seen on the scan feature of the sunswap platform. Total Liquidity is $159,542,147, Volume (24 hrs) is $1,755,700, Transactions (24 hrs) is 625, and the Total pooled tokens is 720,036,296.1691 TRX and 22,421,024,618.6329 WBTT.
The NFT-TRX pair has the following details s seen on the scan feature of the sunswap platform. Total Liquidity is $62,173,808, Volume (24 hrs) is $7,430,360, Transactions (24 hrs) is 2,895, and the Total pooled tokens is 281,138,091.8117 TRX and 6,007,320,966,557.8585 NFT.
The USDJ-TRX pair has the following details s seen on the scan feature of the sunswap platform. Total Liquidity is $124,518,465, Volume (24 hrs) is $8,904,609, Transactions (24 hrs) is 1,464, and the Total pooled tokens is 563,321,240.8432 TRX and 62,370,717.7451 USDJ.
The TUSD-TRX pair has the following details s seen on the scan feature of the sunswap platform. Total Liquidity is $59,807,208, Volume (24 hrs) is $4,602,517, Transactions (24 hrs) is 1,074, and the Total pooled tokens is 270,567,668.6182 TRX and 29,956,487.0661 TUSD.
The USDC-TRX pair has the following details s seen on the scan feature of the sunswap platform. Total Liquidity is $43,595,064, Volume (24 hrs) is $3,385,399, Transactions (24 hrs) is 862, and the Total pooled tokens is 196,961,644.7745 TRX and 21,949,391,3091 USDC
The ETH-TRX pair has the following details s seen on the scan feature of the sunswap platform. Total Liquidity is $28,462,908, Volume (24 hrs) is $1,035,664, Transactions (24 hrs) is 333, and the Total pooled tokens is 127,867,229.5145 TRX and 3,317.5119 ETH
The BTC-TRX pair has the following details s seen on the scan feature of the sunswap platform. Total Liquidity is $157,676,309, Volume (24 hrs) is $4,190,245, Transactions (24 hrs) is 516, and the Total pooled tokens is 712,379,146.4099 TRX and 1,313.9943 BTC
The WIN-TRX pair has the following details s seen on the scan feature of the sunswap platform. Total Liquidity is $63,084,550, Volume (24 hrs) is $10,089,723, Transactions (24 hrs) is 2,277, and the Total pooled tokens is 283,402,053.3888 TRX and 37,805,720,813.8343 WIN
LP tokens are available in Sunswap
There are currently 115 pairs with 2 pairs added in the last 24 hours on the Sunswap platform.
Fees Generated In The Last 24 Hours
Using the Sun Scan, we can see the various fee generated from the last 24 hours.
1/6 of the fee is repurchased and burned.
1/6 x $223,031.6365 = $37,171.9394
Equivalent to 16.67% of the total fee.
Question 3: Deposit either 3 Pool LP, USDC LP, or SUN-TRX LP in Sun.io. Stake them to maximize the mining rewards? Demonstrate the entire process with a real transaction? (Screenshot required)? Include the resource consumption statement, take the help of Block Explorer?
Staking USDC LP Token On The USDC LP Pool.
The first step is to visit the Sun.io platform and connect your wallet. After that is done, click on the sunswap feature and click on Swap to swap your coin. (that is, if you don't have the USDC token).
I will be swapping 15 TRX for a 1.64475 USDC token.
After inputting the amount of TRX to be swapped, click on Swap. After clicking on Swap, a pop-up will appear requesting you confirm Swap. Click on confirm Swap.
The transaction needs to be confirmed on the wallet, so a pop-up from the connected wallet will show requesting you sign the transaction.
The sign button is clicked, and the transaction is approved, and the Swap is completed.
Afterward, we go to the Pool segment of the Swap to add to the liquidity and earn USDC LP token. On the pool segment, we input the amount of USDC we wish to add to liquidity, and then we click on supply.
After clicking on supply, a pop-up appears for us to confirm supply. We click on confirm supply
After clicking on the confirm supply, a pop-up shows from the wallet requesting the transaction be signed. Click on sign
Liquidity is added, and USDC LP Token is received. Next, click on the Stake feature on the Sun.io platform to stake the USDC LP token on the USDC LP Pool. Then, click on stake on the USDC LP pool.
After clicking on stake, a page will appear requesting you deposit the USDC LP pool. I clicked on max as the amount of USSDC LP Token to stake. Then, I clicked on deposit and deposited my USDC LP token.
After clicking on deposit, a pop-up from the wallet shows requesting the transaction is sign to approve. I clicked on it.
After clicking on it, a different pop-up shows requesting the transaction be signed. So I clicked on sign.
After clicking on sign, the transaction was sent.
The transaction was confirmed as shown on the block explorer.
Energy Consumed is given as 59,591 as shown below.
Question 4: What is veSUN? What is the 3-in-1 benefit of holding veSUN tokens?
The governance token of the Sun.io platform is called veSUN. An acronym for Vote Escrowed SUN. Holders of the veSUN token are given voting rights on the SUN platform. The veSUN token is acquired when users lock their SUN token to get rewards in veSUN. The lock period lasts from a minimum of 6 months to a max of 4 years.
There is a different percentage reward given to users who lock their SUN token, and this depends on the period the SUN is locked. For example, a user who locks their SUN token for 4 years has a higher reward percentage than the user who locks their token for 6 months.
The percentage is calculated using the formula given below.
The voting rights of a user with more veSUN are more significant than those with lesser veSUN governance tokens. Therefore, the veSUN gives its holders some benefits, and these benefits are termed the 3-in-1 benefits.
The veSUN acquired during the period of the holders locked SUN token comes with some benefits when navigating the Sun.io platforms. As stated earlier, these benefits are termed the 3-In-1 benefits.
- Earn TUSD(50% fee of the stablecoin swap pool)
The holders of the veSUN token earn rewards in TUSD from the 50% fee charged for swapping done on the stable coin pool. This reward is gained every week and is shared with respect to the amount of veSUN token owned.
- Boost mining speed as high as 2.5x
Holders of the veSUN token can stake it to increase the mining speed of any selected liquidity pool. The max speed up is 2.5x.
- Voting rights to decide the weight of Liquidity pools
Holders of the veSUN token can vote on the weight of the liquidity pools, and the result of the voting is shown every Thursday as to the voted weights on each liquidity pool.
Question 5: What is the 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?
Stablecoin Swap Facility
The stablecoin swap facility is a feature in the sun.io platform that allows for the direct swapping of stables coins. On this feature, all TRC 20 token stablecoins (USDT, TUSD, USDC, and USDJ) are swapped directly with a small fee charged.
The SUN platforms support 4 stable coins as stated earlier, and they are outlined below.
The stablecoins are mined and stake in different liquidity pools to earn rewards. The liquidity pool that supports stable coins mining is the 3 Pool liquidity pool that accepts USDT, USDJ, and TUSD. The second liquidity pool for stablecoins is the USDC LP pool that agrees with the mining of USDC to earn 3SUN.
The stablecoins are used to add liquidity and staking of the stablecoins gives the highest Annual Per Yield (APY) percentage with 7.26% as shown below.
The Sun.io platform is a comprehensive Defi facility as it embodies all interactions present in the Tron ecosystem, making it the top Defi platform in the Tron platform. On the Sun.io platform, different features include the Sunswap, where TRC 20 tokens are swapped directly and mining on liquidity pools and staking.
Users on Sun.io can add to the liquidity of a pair or token and get rewarded with LP tokens. In addition, airdrops are present on the Sun.io platform and the governance token veSUN that has benefits that include speeding up mining time and voting on liquidity pools weight.
Thanks, prof @sapwood, for a fantastic lecture.