Last Updated on January 6, 2024 by cryptocreed
Lido or LDO is a liquid staking solution for Ethereum & other PoS blockchains like Ethereum. It allows users to stake their ETH without any minimum deposit in exchange for stETH that can be used similarly you do with Ethereum. Holders can also participate in on-chain activities like lending.
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The current price of the Lido token is $1.12. The rank of the token is 83 according to the market cap.
Things To Remember While Taking Lido Binance Quiz Answers
- Learn and Earn page can be accessed here “https://academy.binance.com/en/learn-and-earn”.
- Login to check if you are eligible or not.
- Try to use a mobile device.
- Questions will be not in the same format for everyone.
- Rewards will get credited to your account within 48 hours.
Must Read: BINANCE SKALE QUIZ ANSWERS
Binance Lido Quiz Answers
Questions in Binance might be in a different order from account to account. To search each answer or question use CTRL+F to search questions directly.
Q1: What can holders do with LDO?
Answer: Vote on decisions in the Lido DAO
Q2: What problem is Lido trying to solve in PoS staking?
Answer: All are correct
Q3: What can users do with their stETH tokens?
Answer: All are correct
Q4: What do users receive after staking their tokens on Lido?
Answer: Assets that represent their staked tokens on a 1:1 basis, e.g., stake ETH and get stETH tokens
Q5: In addition to Ethereum, which PoS blockchain does Lido support?
Answer: Polkadot
Q6: Where do users deposit their PoS token on Lido?
Answer: The Lido staking pool smart contract
Q7: Why does Lido operate as a DAO?
Answer: All are correct
Q8: What is the name of the utility token on Lido?
Answer: LDO
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