Binance Learn And Earn BNB BUSD POLYX & ALGO Quiz Answer

 Binance Learn And Earn BNB BUSD POLYX & ALGO Quiz Answer 

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

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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

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?


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


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


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


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

Thank you 

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