Binance Academy is a cryptocurrency and blockchain education platform.
You can take the beginner track and the intermediate track to earn rewards.
Both the beginner and intermediate track rewards you with an NFT certificate.
To get started, open the Binance app > Pro > Menu > More Services > Information > Academy Course.
On the Academy Course page, select the course you want to start, watch the videos, and complete the quizzes.
Get started here: accounts.binance.com/register?ref=73583477 or use “73583477” as the referral code.
This guide contains all of the Binance DeFi Deep Dive quiz answers for the intermediate track (course 4).
Binance DeFi Deep Dive Quiz Answers
Question: Which of the following statements are correct about TradFi, DeFi, and CeFi? Choose all the correct answers.
Answer: TradFi includes the bank branches we visit and the banking apps we use.
DeFi has the potential to bring financial inclusion and freedom to more people.
Question: Which of the following statements is/are NOT correct? Choose all that apply.
Answer: The launch of the Bitcoin network in 2009 could be considered the birth of DeFi.
SushiSwap’s “vampire attack” on Uniswap drained nearly billions of dollars from Uniswap.
Question: Which of the following are correct? Choose all correct answers.
Answer: Total value locked is an aggregate amount of funds locked into a DeFi protocol.
Market cap is circulating supply times current token price.
Question: Which of the following is/are stablecoin pegging mechanisms? Choose all that apply.
Answer: Fiat-backed stablecoins.
Question: What is not a feature of “flash loans” in crypto lending?
Answer: They require collateral.
Question: What are the typical differences between a centralized exchange and a DEX? Choose all the correct answers.
Answer: Centralized exchanges take custody of user funds.
DEX trades are usually recorded on-chain.
Question: What’s the difference between yield farming and staking? Choose all that apply.
Answer: Staking is part of a network’s consensus mechanism; while yield farming is not.
Staking requires performing certain network validation tasks, while yield farming doesn’t require it.
Question: How can we minimize impermanent loss? Choose all that apply.
Answer: Choose pairs with lower price volatility.
Join larger, more liquid trading pools.
Set a narrow price range when providing liquidity.
Question: What are the opportunities of DeFi? Choose all that apply.
Answer: Financial inclusion.
Lower cost and more convenience.
Question: What are the recommended strategies to safeguard your DeFi journey? Choose all that apply.
Answer: Use reputable audited DeFi platforms with a track record of security.
Stay informed about market trends, new projects, and changes in protocols.
Enable multi-factor authentication on your accounts and wallets.