RE: Crypto Academy Season 2 Week 3 Homework Post for (@sapwood) - JustLend by sapwood

View this thread on steempeak.com

Viewing a response to: @tht/crypto-academy-season-2-week-3-homework-post-for-sapwood-justlend

· @sapwood ·
$1.55
Thank you for attending the lecture in Steemit-Crypto-Academy- Season 2 & doing the homework task-3.

> In addition, there are gas fees in smart contracts. Gas fees on the Ethereum network are quite high. Almost equal to a plane ticket :) In the Tron network, gas fees are low and transactions are at the speed of plane :)

The gas fee is relevant to Etherum Blockchain. Here in Tron Blockchain, consumes Bandwidth and Energy. For Smart contract call, it is "Energy". If you don't have sufficient energy, then it will burn the equivalent TRX. 

> I have 4998 jTRXs in my TronLink wallet.
I got jTRX for supplying TRX.

That's correct. In the Smart contract trigger, you will find that the function is "mint". So technically you mint jTokens when you supply an asset. e.g. you mint jTRX by supplying TRX tokens.

> I am entitled to borrow 75% of the total supply. $ 6.02 * 0.75 = $ 4.51

Yes, the collateral factor in the TRX market is 0.75 (or 75%).

> You must have some TRX in your account to confirm the borrowing. While transfers are free in the Tron network, there are gas fees in smart contract transactions. 

If you don't have sufficient energy for triggering the smart contract, then it will burn an equivalent amount of TRX.

So, in reality, it is not fees in TRX, rather TRX being burned to accommodate the energy for smart contract call.

> I paid $ 0.01 interest. This is refreshed every 3 seconds. As the Tron network block generation time is 3 seconds.

The borrowed amount is so low that the interest accrued is infinitesimal. Please note that the yearly Borrow APY is hardly 0.69%(in USDJ Market).

> Although I have received credit, the overall picture is positive.

That's the beauty of this Money market protocol.



**Feedback/Suggestions:-**
- The author has demonstrated "how to supply/borrow in JustLend" with a real example-- The author has supplied 50 TRX, and borrowed 1.5 USDJ. He has also produced a complete loop of Supply/Borrow with all the relevant screenshots included.


Thank you.

---

**Homework Task -3 accomplished.**
**[9]**
👍  
properties (23)
post_id90,817,339
authorsapwood
permlinkqsd7vw
categoryhive-108451
json_metadata{"app":"steemit\/0.2"}
created2021-04-30 07:10:30
last_update2021-04-30 07:10:30
depth1
children3
net_rshares1,438,684,706,854
last_payout2021-05-07 07:10:30
cashout_time1969-12-31 23:59:59
total_payout_value0.775 SBD
curator_payout_value0.775 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length2,065
author_reputation424,402,347,817,980
root_title"Crypto Academy Season 2 Week 3 Homework Post for (@sapwood) - JustLend"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (1)
@tht ·
Thanks for checking my homework.

Something caught my attention. I searched for a little bit but couldn't find it.

Why is BTT available on the platform as WBTT? Other coins / tokens are as we normally know but BTT is different.
properties (22)
post_id90,817,774
authortht
permlinkqsd9c5
categoryhive-108451
json_metadata{"app":"steemit\/0.2"}
created2021-04-30 07:41:00
last_update2021-04-30 07:41:00
depth2
children2
net_rshares0
last_payout2021-05-07 07:41:00
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length228
author_reputation84,896,324,612,538
root_title"Crypto Academy Season 2 Week 3 Homework Post for (@sapwood) - JustLend"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@sapwood · (edited)
That's because BTT is a TRC10 token whereas WBTT is a TRC20 token.

JustLend money market protocol supports TRX and TRC20 assets.

I hope it clarifies.

Thank you.
properties (22)
post_id90,817,910
authorsapwood
permlinkqsd9ql
categoryhive-108451
json_metadata{"app":"steemit\/0.2"}
created2021-04-30 07:50:27
last_update2021-04-30 07:51:33
depth3
children1
net_rshares0
last_payout2021-05-07 07:50:27
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length163
author_reputation424,402,347,817,980
root_title"Crypto Academy Season 2 Week 3 Homework Post for (@sapwood) - JustLend"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
@tht ·
Thank you, got it.
properties (22)
post_id90,818,182
authortht
permlinkqsdai9
categoryhive-108451
json_metadata{"app":"steemit\/0.2"}
created2021-04-30 08:06:18
last_update2021-04-30 08:06:18
depth4
children0
net_rshares0
last_payout2021-05-07 08:06:18
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length18
author_reputation84,896,324,612,538
root_title"Crypto Academy Season 2 Week 3 Homework Post for (@sapwood) - JustLend"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000