Binance Learn And Earn BNB BUSD POLYX & ALGO Quiz Answer

The unique “Learn and Earn” program on Binance now includes BNB, BUSD, POLYX, and ALGO, which are all important cryptocurrency. The goal of this project is to teach people about these digital currencies and reward them for their hard work.

  Binance Learn And Earn BNB BUSD POLYX & ALGO Quiz Answer 

Date:- 7th December, 2:30 PM (ist)

 First come First serve event 

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Binance Learn And Earn Quiz Answer

Binance BUSD Quiz Answers

Q1. How can you purchase BUSD or Binance-Peg BUSD?

Ans – All Are correct

Q2. What fiat currency is BUSD pegged to?

Ans – US Doller

Q3. BUSD is backed 1:1 with:

Ans – Cash Reserves

Q4. Who Regulates BUSD?

Ans:- NYDFS(New York Department of Financial Services)

Q5. What is the name of the BUSD-pegged token Binance offers on BNB Chain and other chains?

Ans: – Binance-peg BUSD

Q6. Who mints BUSD? 

Ans- Paxos

Q7. Which chain is BUSD minted on by Paxos? 

Ans:- Ethereum

Q8. Which of the following descriptions is incorrect?

Ans:– BUSD doesn’t provide a monthly basis attestation report.

Q9 What is the total supply of BUSD?

Ans:- Just over 22 billion


Q10 What can BUSD be used for?

Ans:- All are correct

Binance POLYX Quiz Answer

▪️Who are Polymesh’s node operators?
answer :  Regulated financial entities only

▪️What consensus mechanism does Polymesh use?
answer  : Proof-of-stake

▪️Polymesh is the blockchain
answer  : Making tokenization accessible to institutions

▪️How large is the securities market?
ANSWER : Hundreds of trillions of dollars

▪️What are the next steps for Polymesh?
Answer : Stablecoins, MERCAT, Integrations, NFTs

▪️Can you earn staking rewards with POLYX?
answer  : YES

Binance ALGO Quiz Answer

Q1. Algorand has a Governance Program that allows the community to vote on measures that impact the future of the blockchain. True or false?

Ans:- true

Q2. How many transactions per second (TPS) can Algorand process?

Ans:- 6,000

Q3. Silvio Micali, founder of Algorand, is famous for being the co-inventor of which of the following technologies?

Ans:-All are correct

Q4. What is Algorand’s consensus mechanism?

Ans:- Pure Proof-of-stake (PPS)

Q5. What is the total supply of ALGO tokens?

Ans:- 10 billion

Q6. For each round, the network selects:

Ans:- The block proposal with the lowest VRF hash.

Q7. How much does it cost to send a transaction in Algorand?

Ans:- 0,001 ALGO

Q8. How fast is an Algorand block?

Ans:- 3.7 seconds

Q9. Which of the following companies are building NFT and Web3 projects on Algorand?

Ans:- All are correct

Q10. What is the minimum stake needed to run a validator node in Algorand’s PPOS consensus mechanism?

Ans:- 0.1 ALGO

Binance BNB Quiz Answer

Q1. BEP-2 BNB is the native coin of Ethereum. True or false?

Ans:-False

Q2. Which token standards exist for BNB?

Ans:- All are correct

Q3. What use cases does BNB have?

Ans:- All are correct

Q4.BNB was originally issued as a:

Ans:- ERC-20 token on Ethereum

Q5. 

What is the total supply of BNB?

Ans:- 200 million BNB

Q6. Owning BNB provides you with a share of Binance’s profits. True or false?

Ans:- False

Q7.

What was BNB’s initial sale price during its distribution?

Ans:- 1 BTC for 20,000 BNB

1 ETH for 2,700 BNB

Q8. BNB was launched through an Initial Game Offering (IGO) in 2017. True or false?

Ans:- False

Binance TRU QUIZ ANSWERS 

1. The world’s most transparent and effective financial infrastructure to support the global credit market.

Ans:-All are correct.

Q2. Approximately how much in unsecured loans has TrueFi originated between November 2020 and December 2022?

Ans:- $2 billion

Q3. TrueFi’s native token is used to facilitate:

Ans:- All are correct

Q4. TrueFi’s mission is to build what?

Ans:- The world’s most transparent and effective financial infrastructure to support the global credit market.

Q5. Who can loan into TrueFi pools and portfolios?

Ans:- Each pool and portfolio has its own lender selection criteria, set by the manager

Q6. What is not a function of the TrueFi credit protocol?

Ans:- Collateralized lending.

Q7. What are the benefits of launching a financial opportunity on-chain using TrueFi?

Ans:- All are correct.

Q8. What is TrueFi’s native token?

Ans:- TRU

Q9. What protections do TrueFi lenders enjoy against loss of capital on the protocol?

Ans:- All are correct

Q10. What benefits does TrueFi offer its users?

Ans:- All are correct

Q11. Besides Ethereum, what other blockchain does TrueFi support?

Ans:- Optimism

Q12. How can TrueFi lenders exit their loan position in a TrueFi pool or portfolio?

Ans:- Exit liquidity differs depending on the opportunity, based on specifications set by the manager

Q13. What benefits does TrueFi offer its users?

Ans:- All are correct

Conclusion

In conclusion, Binance’s “Binance Learn And Earn BNB BUSD POLYX & ALGO” program is a creative way to mix education with reward, making the crypto community smarter and more involved.

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