Binance UMA Quiz Answers

UMA Binance Quiz Answers

Binance UMA quiz answers: Those who complete the quiz can get one UMA crypto token cash voucher. I have already received my reward for giving answers correctly.

It is an optimistic oracle designed to record any knowable truth onto a blockchain. Founded in 2017 by hart lambur. Universal market access is the full form of UMA.

Three actors in UMA’s oo system; request, propose, and dispute. This token is basically an ERC-20 token. The initial supply of the token was 100 million.

Binance Learn & Earn UMA Quiz Answers

Q1) What makes the OO optimistic?

Answer: Proposed data will not require resolution unless it is disputed, and disputes are rare

Q2) How many tokens did UMA transfer to its DAO in 2021?

Answer: 35 million tokens

Q3) Who are the three actors in the OO system?

Answer: The contract requesting the data; the participant proposing the data; and the disputer

Q4) Why is there a reward associated with voting correctly?

Answer: So there is an incentive to be correct

Q5) Why does the OO include a human component?

Answer: Humans can provide any kind of knowable truth to a blockchain

Q6) What are the phases in the UMA voting process?

Answer: Voting period; voting revealing period; reward collection period

Q7) What is the DAO tooling organization that is a sister protocol to UMA and Across and is secured by the OO?

Answer: Outcome.Finance

Q8) How long does it typically take for the OO, through its UMA token holders, to resolve a dispute?

Answer: 48 hours

Q9) What is UMA’s native token?

Answer: UMA coin

Q10) What is the cross chain bridge empowered by UMA and its OO?

Answer: Across