Layer1 Tokens Binance Quiz Answers

Binance Layer1 Tokens quiz answers. Learn about layer 1 tokens and share $330,000 and 100 limited edition NFTs.

Layer1 token campaign includes 3 promotional activities: completing quizzes, entering quests, and inviting your friends to the Binance.

In this post, you can 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.

How to Take Layer 1 Tokens Quiz? 

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

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

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

Task1: Read Binance Academy’s article to learn about Layer 1 tokens.

Task2: Submit the quiz to prove your knowledge.

Task3: 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. Answers are given below.

Layer1 Token Binance Answers

1. EGLD – Why is Elrond dubbed “The internet-scale blockchain”?

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

2. EGLD – What is Elrond’s impact on the environment?

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

3. IOTX – What are the names of IoTeX’s devices?

Answer: Ucam and Pebble Tracker

4. IOTX – What is MachineFi?

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

5. ONE – What is Harmony’s vision for scaling Web3?

Answer: Zero Knowledge Proofs and Decentralized Autonomous Organizations

6. ONE – What areas of growth will Harmony focus on serving going forward?

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

7. CELO – Which of the following accurately describes the Celo blockchain and its rich ecosystem?

Answer: Web3 applications including DeFi, NFTs and payments

8. CELO – Which of the following is not a characteristic of Celo’s native stablecoins

Answer: Celo stablecoins are backed by a fiat reserve

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

Answer: Ethereum and Cosmos

10. KAVA – Who can vote in Kava Network governance proposals?

Answer: KAVA stakers and validators

11. RUNE – What is THORChain?

Answer: A cross chain permissionless decentralized exchange

12. RUNE – How does THORChain do cross chain swaps?

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