Learn And Earn Binance TrueFi Quiz Answers

Binance TrueFi Quiz

Binance, the biggest crypto exchange has come back with a new learn and earn crypto quizzes round. Binance TrueFi quiz answers can help you to win assured TRU tokens.

The quiz is not live yet! But the dates are already revealed. All existing Binancians as well as new would be able to earn TRU from the upcoming TruFi quiz on November 9, 2022 at 09:00 UTC.

Quiz rewards will be distributed on a first come first serve basis as usual and once all the rewards are distributed you will not be able to earn TRU coins even after submitting correct quiz answers.

Along with this quiz, Binance Skale Quiz will also be available which can give free 15 SKL tokens only to those Binancians who not subscribed to simple earn locked products yet.

About TrueFi Protocal Ecosystem

TRU token is the native token of TrueFi protocol. It is used for staking and participating in governance decisions.

TrueFi is a hybrid combination of both decentralized finance (DeFi) and centralized finance (CeFi) protocol for uncollateralized lending.

The important thing to note is that they are lending without collateral, which means that they are only lending to high-profile institutions and not individuals. They perform various rigorous credit checks on the institutions before giving loans to them.

Once they complete the credit check and analyzed the risk appetite of loan takers then True token holders come into the picture and vote to approve a loan for the institution.

TrueFi stakers are those who stake TRU tokens through the staking dashboard of TrueFi and for staking in return you receive stkTRU which acts as a receipt for staking your TRU tokens and with the help of stkTRU you can participate in TrueFi’s governance decisions, and you gain automatically the right to approve or reject the borrower loan applications.

Major risks are associated with the staking, suppose you approve the bad loans then there is a high chance that this can harm your overall returns.

By depositing stablecoin into one of the lending pools on its platform in return, you will receive a TrueFi version of these stablecoins like tfUSDT, tfUSDC, tfTUSD and this means that you can farm these tokens in TRU farming pools and can earn additional returns.

Binance TrueFi Quiz Date & Time

QuizDetails
Quiz is aboutTrueFi (TRU) 
Date & time9th November 09:00 UTC to 22nd November
RewardsTRU tokens
No of winnersFirst come, first served!

How To Earn TRU From The Binance TruFi Quiz?

1. Login to your Binance account.

2. Proceed to the TrueFi quiz page from here or from the Binance app.

3. Open the Binance app » go to services » gift & campaign section » learn & earn » take the quiz.

4. The quiz will start on 9th November at 9 UTC and will continue till 22nd November.

5. You will earn assured TRU after submitting all the correct answers by scoring 100%.

Binance Learn & Earn TrueFi Quiz Answers

The quiz will start on November 9 at 09:00 (UTC). Questions may be randomly asked, so attempt them accordingly.

Q1) TrueFi’s mission is to build what?

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

Q2) What benefits does TrueFi offer its users?

Answer: All are correct

Q3) What is not a function of the TrueFi credit protocol?

Answer: Collateralized lending

Q4) Approximately how much in unsecured loans has TrueFi originated between November 2020 and December 2022?

Answer: $2 billion

Q5) What is TrueFi’s native token?

Answer: TRU

Q6) TrueFi’s native token is used to facilitate:

Answer: All are correct

Q7) What benefits does TrueFi offer its users?

Answer: All are correct

Q8) What are the benefits of launching a financial opportunity on-chain using TrueFi?

Answer: All are correct

Q9) Who can loan into TrueFi pools and portfolios?

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

Q10) How can lenders generate yields on TrueFi?

Answer: All are correct

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

Answer: Optimism

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

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

Q13) What protections do TrueFi lenders enjoy against loss of capital on the protocol?

Answer: All are correct

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