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Sun.io and Tron (TRX) are complicating the earning options instead of simplifying

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Avatar for PVMihalache
Written by   850
1 month ago

TRON ($TRX) is the token first token created on the Tron Network, the creation of Justin Sun and the TRON Foundation. However, my relationship with Tron was never great... we are missing the synergy. I have a bag of Tron ($TRX) and I do appreciate the cheap fee for TRC tokens but except sending USDT as TRC-20 I don't use it much. If Justin Sun still believes that he created the Ethereum Killer - then he is delusional! 

I got some $TRX from various giveaways and faucets between May and June 2020. The Tron (TRX) value was back then was $0.016 and today's value is still half from the January 2018 All-Time High, when it reached $0.23. After many ups and downs, Tron still fails to deliver a steady growth and comes back to old values after every surge.

When Sun.io was launched in December 2020, I thought that finally Tron will become better. SUN was launched as a social experiment, and a component of TRON DeFi. The new token can be implemented by open-source smart contracts, and is used to develop community initiatives and other developed DeFi projects, such as lending, insurance, liquidity and  stablecoins. I staked all my TRX tokens and earned $SUN and small shares of TRX, JST, WIN, BTT and BTCST.

Then only months after, Justin Sun annonced the redenominated the SUN token. The reason for the change was to accommodate the requirements of the SUN project and to upgrade the framework, SUN Swap being used to swap SUNOLD into SUN. The new token granted voting rights and other benefits to the holders.

I had all my Tron (TRX) and the little SUN staked on Sun.io, which was automatically moved to JustLend after the platform upgrade. I mined 0.22 SUNDOLD from the genesis period which I had to swap for the new $SUN. I had to manually find my  $SUN tokens and the 0.22 SUNOLD were exchanged 220.75 SUN, rounded up at 230.99 tokens with airdrop rewards.

I wanted to keep the ball rolling and I locked my tokens for two months and earned both SUN and TUSD. I earned 9.41 SUN and 0.01 TUSD in two months, too little to consider staking again. I am almost sure that this "profit" doesn't even cover the 5-6 $TRX I paid as transaction fees.

I looked around on Sun.io to withdraw my assets and couldn't find anything. Had to google, look around and ask around to finally find out that the TRON is now on JustLend. I managed to withdraw and while browsing around I found the Governance page, the place where community votes and propose changes. I have 13.325 JST, representing 13,325 votes, and 200 million votes are required to promote a proposal. I am not even a shrimp ... I am a bacteria. 

I decided to supply TRX for borrowing on JustLend, and make some residual income. The supply APY was 3.97%, an absolute joke. I will leave them staked in there until further notice.

I still had about $8 of SUN tokens and I was thinking will be add them as supply on JustLend or stake them on Sun.io for a good APY. No point to keep them idle in the wallet.

I went to Sun.io to stake it at 25% APY for 6 months but the staking failed. I tried again and again but I've got the same result. Looks like I was out of energy. I then went to JustLend and tried to supply SUN for lending but the transaction failed again as my energy was zero and all the failed transactions burned over 14 TRX. I just gave up and closed Tronix.

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Avatar for PVMihalache
Written by   850
1 month ago
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Comments

that's very nice information, i can make my own Trx so that i can convert to token. thank you its very usefull

$ 0.00
1 month ago

I see huge potential in TRX, the fundamentals behind that blockchain network is amazing. I believe that with a little push, we can see something big. One motivation that keeps me on staking/freezing my TRX on my decentralized wallet from https://atomicwallet.io/ for more bandwidth.

$ 0.00
1 month ago

I went to check my Trust Wallet. I have 17.2 TRX. I bought a few a few months ago and the others I won in a telegram bot, it worked amazingly perfectly. What do you recommend I do with those TRXs? Did I leave them there until 2140?

$ 0.00
1 month ago

I lended them on JustLend!

$ 0.00
1 month ago

When TRx first came in, I remember my guy advising me to buy it, but now he doesn't feel please with it.

$ 0.00
1 month ago

was a good project and a top concept ... at the beginning

$ 0.00
1 month ago

The only decent about TRX for me is its low transactional fees. Without that actually, TRX is just a lost cause.

$ 0.00
1 month ago

I think the issue is with the lack of ... personality

$ 0.00
1 month ago

Savage! Hahaha. Its the whole existence is the problem. Lol.

$ 0.00
1 month ago