The Ques: CakeDefi $5 DFI Quiz Answers!
Question 1: How can DeFiChain be described in one sentence?
Answer 1: A – DeFiChain is a blockchain dedicated to Native Decentralized Finance for Bitcoin.
Question 2: What is Decentralized Finance?
Answer 2: B – Decentralized Finance are all types of financial applications without the need of a third party intermediary like a bank
Question 3: What are the benefits of #NativeDeFi?
Answer 3: C – Native DeFi is more secure than non-Native DeFi because the consensus happens directly on the native blockchain layer, instead of getting compiled and running through a virtual machine like on Ethereum.
Question 4: What are the main ways to earn incredibly high yields with DeFiChain?
Answer 4: B – Staking and Liquidity Mining offer great and easy ways for anyone to earn block rewards with over 50% yearly returns.
Question 5: What is DeFiChain’s Decentralized Exchange?
Answer 5: D – DeFiChain’s decentralized exchange is the cornerstone of most decentralized financial applications in the DeFiChain ecosystem, enabling trading, liquidity mining and more