Learn And Trade Binance GMX Quiz Answers

Binance GMX Quiz Answers

Binance GMX quiz answers: Learn and trade is a new event coming from Binance exchange, one of the biggest cryptocurrency exchanges.

All Binance users who deposit at least 5 GMX or trade at least 8 GMX and complete the quiz will be eligible to share $75,000 prize pool in GMX token vouchers.

In this post, I have added GMX quiz answers, you can refer to them and get all answers correct. The activity is valid till 30th November 2022.

Binance Learn And Trade GMX

1) Click here to participate in the Binance learn and trade GMX activity.

2) Complete a net deposit of at least 5 GMX or trade of at least 8 GMX (buys and sells).

3) Eligible GMX spot and margin trading pairs: GMX/USDT, GMX/BTC, GMX/BUSD.

4) Take the quiz and complete it, quiz answers are given below.

5) Eligible users will share $75,000 prize pool in GMX token vouchers.

6) Rewards will be distributed within two weeks after the activity ends.

Binance Learn And Trade GMX Quiz Answers

Question 1: What is the GMX Protocol all about?

  • Decentralized leverage trading
  • NFTs
  • Stablecoins

Answer: Decentralized leverage trading

Question 2: What is the maximum leverage on the platform?

  • 30.50x
  • 25x
  • 15x

Answer: 30.50x

Question 3: Which tokens can you trade on GMX?

  • SOL/ETH/XRP
  • ETH/BTC/UNI/LINK/AVAX
  • BTC/ETH/BNB/DOGE

Answer: ETH/BTC/UNI/LINK/AVAX

Question 4: What is GLP?

  • A stablecoin
  • A token that gives you governance power
  • The liquidity provider token of the GMX protocol

Answer: The liquidity provider token of the GMX protocol

Question 5: What does Tier 3 of the GMX referral program give you as rewards?

  • 10% of your referred volume paid out in ETH/AVAX
  • 15% of your referred volume paid out in ETH/AVAX, and 5% in esGMX
  • Nothing

Answer: 15% of your referred volume paid out in ETH/AVAX, and 5% in esGMX

Question 6: What benefits do you get when trading on GMX?

  • Trade on-chain from your own wallet
  • deep liquidity
  • no scam-wicks

Answer: Select all 3 options

Question 7: What does staking your GMX do?

  • Give you governance power
  • Increase the GLP APR
  • Gives you 30% of all protocol fees paid out in ETH/AVAX

Answer: Gives you 30% of all protocol fees paid out in ETH/AVAX

Question 8: Can you perform a swap trade on GMX?

  • IGO Yes, you can swap between all assets in the GLP pool and pay low fees
  • No, you can only leverage trade on GMX

Answer: IGO Yes, you can swap between all assets in the GLP pool and pay low fees

Question 9: What is the name of the GMX community NFT project?

  • Good Morning Xcitement
  • GMX Blueberry Club
  • Bored Moderators Chess Club

Answer: GMX Blueberry Club

Question 10: What is the name of the podcast hosted by community members?

  • The Joe Rogan Experience
  • The GMX Fireside Chat
  • The Blueberry Podcast

Answer: The Blueberry Podcast

Question 11: How are decisions made on the GMX platform?

  • Discussions on governance forums and a GMX voting snapshot to make the final decision
  • Twitter Space hosted by the core contributors
  • The community cannot make decisions

Answer: Discussions on governance forums and a GMX voting snapshot to make the final decision