Home Cryptocurrency CakeDefi Learn & Earn Crypto: CakeDefi DeFiChain Quiz Answers

CakeDefi Learn & Earn Crypto: CakeDefi DeFiChain Quiz Answers

by cryptocreed

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

Also Read: CoinMarketCap Learn & Earn Quiz Answers: BNB Boost Answers

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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