Binance Layer1 Tokens Quiz Answers: Learn & Earn

Binance Layer1 Tokens Quiz Answers

Binance Layer1 Tokens Quiz Answers: New Binance layer 1 tokens learn & earn quiz is live. Learn about layer 1 tokens and share $330,000 & 100 limited edition NFTs.

To participate, you must have your account Binance. If you don’t have an account then create your Binance account from the below given registration link.

Binance learn & earn layer1 token campaign includes 3 promotional activities: completing quizzes, entering quests, and inviting your friends to the Binance.

In this post you can generally find both the Binance layer1 tokens quiz answers which are part of the 1st and 2nd promotional activities of this campaign.

All users who complete all tasks during the promotion period will be qualified for equally sharing the prize pool of $220,000 in the limited edition NFTs.

Users who get more than 80% correct will be qualified for the quest, where 100 winners will be selected based on the rules to each win a limited edition Layer 1 master badge NFT.

Binance Layer 1 Tokens Quiz Answers are given below, scroll the page to get the answers. Activity period: 24th February 2022 to 10th March 2022.

How to Participate in Layer 1 Tokens Learn & Earn? 

1) Tap on the link given below and signup on Binance and complete your KYC.

2) Register for the Binance layer 1 tokens learn & earn campaign.

3) In promo A, there are 3 tasks that need to be completed during the promotion period.

Task 1: Read the Binance Academy’s article to learn about Layer 1 tokens.

Task 2: Submit the quiz to prove your knowledge.

Task 3: Accumulate a total trading volume of at least $2,000 including buys and sells.

4) In promo B, attempt the above quiz and get more than 80% correct to be qualified for entering a quest.

5) Take the layer1 tokens quiz. Sandbox learn & trade quiz answers are given below.

6) For more information about learn & earn campaign, must visit Binance’s official website.

Binance Learn & Earn Layer1 Tokens Quiz Answers

Do your research & recheck the answers before submitting the quiz. These answers are just for reference purpose only

Q1) EGLD – Why is Elrond dubbed “The internet-scale blockchain”?

Answer: Its capacity can grow (scale) with demand thanks to sharding

Q2) EGLD – What is Elrond’s impact on the environment?

Answer: Positive – Elrond offsets more CO2 than is attributable to its modest PoS energy footprint

Q3) IOTX – What are the names of IoTeX’s devices?

Answer: Ucam and Pebble Tracker

Q4) IOTX – What is MachineFi?

Answer: The system that enables people to earn digital assets from their real-world data and actions.

Q5) ONE – What is Harmony’s vision for scaling Web3?

Answer: Zero Knowledge Proofs and Decentralized Autonomous Organizations

Q6) ONE – What areas of growth will Harmony focus on serving going forward?

Answer: NFT infrastructure, DAO tooling, and inter-protocol bridges

Q7) CELO – Which of the following accurately describes the Celo blockchain and its rich ecosystem?

Answer: Web3 applications including DeFi, NFTs and payments

Q8) CELO – Which of the following is not a characteristic of Celo’s native stablecoins

Answer: Celo stablecoins are backed by a fiat reserve

Q9) KAVA – Which major ecosystems will the Kava Network’s Co-Chains bring together?

Answer: Ethereum and Cosmos

Q10) KAVA – Who can vote in Kava Network governance proposals?

Answer: KAVA stakers and validators

Q11) RUNE – What is THORChain?

Answer: A cross chain permissionless decentralized exchange

Q12) RUNE – How does THORChain do cross chain swaps?

Answer: Liquidity pools Model using RUNE as a settlement and security asset

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