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Binance DeFi Deep Dive Quiz Answers

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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.

Crypto-backed stablecoins.

Algorithmic 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.

Greater transparency.

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.

Further reading

Binance Learn and Earn Solana (SOL) Quiz Answers

Binance Academy Courses Quiz Answers

Binance Learn and Earn The Graph (GRT) Quiz Answers


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