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

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

There has been a great deal of improvement in Sun.io with the most recent ones and the most talked one being the taken over of Justswap and rebranding it as Sunswap. The stablecoinswap and veSUN are the other most encouraging side of the Sun.io as a DeFi stage.

All the major stablecoins like USDC, TUSD, USDT and USDJ are accessible in Sun.io and can be traded for each other.

The total locked value in Sun DeFi is 3.111 Billion USD.

I would talk through the different highlights individually.

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Swap Stablecoin

Every one of the four stable coins USDC, TUSD, USDT and USDJ can be traded against one another. They are all TRC20 tokens. A specific expense is charged and half of the charge goes as an administrator fee.

The stable coins and the facility to swap and exchange for the other give more options to the traders and also boost the liquidity pools. Having an integrated swap facility makes the pool and staking mechanism more robust and it assists and attracts the new client to stay remained in SUN DeFi.

The stable coin swap does not depend on an order book, it is instant and the exchange triggers with a smart contract.

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SUN Pools

There are three different pools in Sun.io.

(1) 3Pool
(2) USDC Pool
(3) SUN-TRX LP

3Pool is a combination of 3 stablecoins, USDJ+USDT+TUSD in equal weight.

USDC Pool is a combination of USDC and 3SUN. But the equal proportion is not obligatory. The user is given the freedom to decide what weight he can assign to a token and stake. One USDC is equivalent to one 3SUN token.

SUN-TRX LP is a token with an equal weight of SUN and TRX value. Sunswap is the place where SUN_TRX LP can be issued to the user who adds liquidity in the SUN-TRX pool.

Depositing in Stablecoins earns 7.09% APY and staking can earn up to 41.5% APY fr a user.

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Sunswap

Justswap has been rebranded to Sunswap with a new economic improvement called Burn SUN. The trading fees paid by the users in Sunswap DEX is distributed to the liquidity providers, but a portion is used to buy & burn SUN. The ratio is 5/6:1/6. 5/6 is given to liquidity providers and 1/6 is used for buy & burn SUN.

The users can exchange their OLD SUN for new SUN. They can likewise trade their TRC20 tokens. The users can add liquidity. The liquidity providers can also catalyze their LP token for stake mining in Sun.io.

The total locked value in Sunswap is 1.791 Billion USD.

Hit the connect to wallet button to connect your Tronlink wallet.

There are two options in Sunswap. One is Swap and the other is Pools. Swap option is for the traders and the Pools option is for the liquidity providers. In an automated market maker, the liquidity providers add an equal amount to the LP token pair. The trader trades the pair and pays 0.3% trading fees which are given as an incentive to the liquidity providers.

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Scan

Using the scan feature, a trader can easily and quickly search a trading pair. At the time of writing this article, a total of 125 pairs are available on Sunswap, 647 transactions in the last 24 hours, and 5 news pairs are also added in the last 24 hours.

The liquidity in Sunswap is up by +9.15% and volume is up by more than +110% in the last 24 hours.

The specific details of all the LP token pairs can also be scanned using this feature.

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LP Pools

Sunswap has 125 pools showing in the Scan feature. Yet not all LP tokens are available for mining.

Adding liquidity earns liquidity provider fee which is 5/6th of the 0.3% trading fees. The user is also given LP token for adding liquidity. All the 125 Pools have LP tokens. Out of them, only 9 popular LP tokens can be staked in Sunswap mining to earn extra rewards.

At the time of writing this post, NFT-TRX LP mining is giving the highest APY of 38.17%. To start Sunswap mining, the LP token pair must be selected, staked.

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Governance

The SUN Pools have three sets. For staking, a certain APY and mining of the reward are scheduled. But the proportions among these different pools are decided through voting by veSUN holder. veSUN is another type of token, a governance token of Sun.io, which I will talk about later in this post. The veSUN holders vote and decide the weight of each Sun pool on weekly basis. The vote is aggregated and the weight is decided on Thursday of the week.

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(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?

Open Sunswap with this link, https://sunswap.com

Connect your wallet. It requests you to connect your account. Click connect.

I am connected to Sunswap user interface. From here, I can swap, add to the pools, scan, etc.

At the time of writing this article, 125 distinguished LP token pairs are available. In the last 24 hours five new LP tokens, pairs are added.

An LP token carries the equal weight of each token.

The trading fee is 0.3%. 5/6 or 83.33% of the trading is distributed to LP token holders and the remaining 16.66% is for buy & burn SUN tokens.

As an example, in the last 24 hours, the SOAR-TRX LP pair has generated 316.57 USD fees. As talked about before, 83.33% will go to SOAR-TRX holders and the remaining 16.67% will be used for buy & burn SUN.

• SOAR-TRX holders earned fees(last 24 hrs)= 83.33% of 316.57= 263.8 USD
• Buy & Burn SUN= 16.67% of 316.57 = 52.76 USD

The last traded price of SUN from Coinmarketcap site is 0.03374 USD.

52.76 USD of SUN= 52.76/0.03374= 1563 SUN

From just one pair, SOAR-TRX in the last 24 hours 1563 SUN can be burned. There are 125 pairs. So a huge quantity of SUN is now burned in Sunswap regularly and that is eliminating a part of the circulating supply. Such a scheme is deflationary to SUN.

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(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?

veSUN is the vote governance token of the Sun platform. I will explain step by step to stake and mint veSUN.

You must have sufficient resources called Bandwidth and Energy in your Tron wallet or you should hold equivalent TRX to burn in case of insufficient Bandwidth and Energy. You must also have SUN to stake for this Task.

I will be using TronLink web extension for this Task.

Open Sun.io and click on Governance.

Connect to Wallet.

It will request you to connect your wallet. Click on Connet.

Next, click the Stake tab. This is the place where you lock your SUN to get veSUN.

Click lock SUN to get veSUN.

I am locking 10 SUN for four years period.

A user can select any range between 6 months to 4 years.

If I select 6 months, I will get veSUN equivalent to 0.125% of the SUN locked, if I select 4 years, I will get veSUN equivalent to 100% of the SUN locked.

Click Deposit.

Sign to approve the transaction, Sign the transaction.

My lock-in detail is attached, with an expiry of 2025-11-13. Before that, I can not unlock it.

Resource Consumption Statement

(1) Sign to Approve: 345 Bandwidth, 22,454 Energy, Burn 6.28712 TRX
https://tronscan.org/#/transaction/429a4d1cd970d62ed9998a734d846ec8b6fe33d2dbc6c0383ff2d4ec0a9ec1a1

(2) Approve: 379 Bandwidth, 474,944 Energy, Burn 132.98432 TRX
https://tronscan.org/#/transaction/e90f6079103ac09ffdb26c4f84371ccd93169d4e9c00a7e27758a2c35cdd60c6

Total TRX burned= 6.287+132.984= 139.271

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

veSUN is the vote governance token of SUN platform. veSUN is minted by staking SUN. The staking period is from 6 months to 4 years.

Quantity of veSUN = Quantity of locked SUN * (Expiry date - Current date)/4 years

I have already given my lock-in details where the expiry is clearly written.

For me, it is like, Quantity of veSUN = 10 * ( 2025-11-13 - 2021-11-20)/4 years= 10 * (4/4)= 10 ve SUN

The lowest quantity of veSUN is 0.125% of the SUN locked(if the user has chosen 6 months) and the max quantity is 100% of SUN locked(if the user has chosen 4 years)

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3-in-1 benefit

(1) Benefit No. 1- TUSD Rewards

Sun.io has an in-built stablecoin swap feature, the users can trade any of the 4 stablecoins USDJ, USDT, TUSD, USDC for the other.

When a trader swap one stablecoin for another, 0.04% fee is applied. Out of 0.04% fee, 0.02% is Admin fee, remaining 0.02% fee is distributed among the veSUN holders. This fee is distributed in TUSD to veSUN holders.

(2) Benefit No. 2- Boost Mining Speed

I have already talked about the SUN pools which has USDC pool, 3Pools, SUN-TRX LP Pool and depositing the specific tokens, the users can earn mining rewards. The APY is different for different pools, but there is a range.

The SUN-TRX LP has an APY of 16.63% to 41.59%. 16.63% is common for all. The upper limit is 41.59%. A user can use veSUN to boost the mining speed up to 41.59%.

The max speed of mining can be 2.5x maximum, as 16.63x2.5= 41.59%

Open the Boost calculator.

I have 9.957 veSUN tokens. Staking 11 SUN-TRX LP with a target to achieve 2.5x mining speed to boost my APY from 16.63% to 41.59%, I need min 9.7 veSUN.

(3) Benefit No. 3- Governance

veSUN is a vote governance token. If a user wants to participate in governance he must possess veSUN token. Governance of the weight of liquidity pools is done through voting of veSUN holders every Thursday.

You can vote any time, but the counting is done on Thursday.

The next counting and adjustment of the weight of 3 different pools will be decided next Thursday

I have 9.95 veSUN, if I want a greter weight and allocation for SUN-TRX LP, I can vote for that pair.

Select the pool, assign a weightage of the vote. I choose 60% of my weight. I have 9.95 veSUN, 60% weight means 5.97 veSUN will be counted as vote. It is similar to what we use voting weight in Steemit.

Click on Vote.

Approve and sign it.

I am not signing the transaction as it will brun 44 TRX again which I dont have any more, I have already burned more than 140 TRX for this task.

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(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?

Stablecoin swap is an in-built stable coin swap feature of Sun.io platform and the fee is very low, only 0.04%. But it is similar to DEX, so the swap will happen similar to Sunswap, smart contract.

The different coins supported in the Stablecoin swap of Sun.io are USDJ, USDT, TUSD, USDC, etc.

The trading fee is very cheap and it executes instantaneously.

The in-built stablecoin swap helps the user to execute all operations from Sun.io platform. They don't need to go any other place to swap the required stablecoin for a pool.

Sun pools have 3Pool with three stable coins, if a user does not have any of the three pool tokens, he can convert his other stable coins here to quickly swap to the required token.

Stablecoin swap facility is the quickest and cheapest means to help users get the required coins which can be used to stake and mine rewards.

The slippage in the Stablecoin swap is adjustable. The max slippage of the users can be set from 0.5% to 50%. generally, the users set their max slippage to 0.5%, which is also the default option.

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Thank you, professor @sapwood

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_{Screenshots: From Sun.io}