Last Updated on December 6, 2022 by cryptocreed
CakeDefi is a Singapore-based decentralized finance services provider founded in 2019 but gained huge popularity in 2021. Currently serving in more than 190 countries to more than 1 million verified users.
CakeDefi has started its own Learn & Earn campaign where users can earn free crypto by answering some simple quiz questions. As of now, there are 3 CakeDefi learn & Earn campaigns on their website.
It is a bit hard to answer all questions on your own hence here we bring answers to the CakeDefi DefiChain quiz.
CakeDefi DeFiChain Quiz Answers
Click here to visit Defichan Learn & Earn page.
There are 5 questions in this quiz which will lead you to earn $1. It is really worth it because you are going to spend less than a minute and get $1 for it.
Q1. How can DeFiChain be described in one sentence?
Answer: A. DeFiChain is a blockchain dedicated to Native Decentralized Finance for Bitcoin.
Q2. What is Decentralized Finance?
Answer: B. Decentralized Finance are all types of financial applications without the need of a third party intermediary like a bank
Q3. What are the benefits of #NativeDeFi?
Answer: 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.
Q4. What are the main ways to earn incredibly high yields with DeFiChain?
Answer: B. Staking and Liquidity Mining offer great and easy ways for anyone to earn block rewards with over 50% yearly returns.
Q5. What is DeFiChain’s Decentralized Exchange?
Answer: D. DeFiChain’s decentralized exchange is the cornerstone of most decentralized financial applications in the DeFiChain ecosystem, enabling trading, liquidity mining and more
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