Cake DeFi is a fairly unique offering compared to its crypto yield kin. Cake DeFi is a centralized company like BlockFi and Nexo; by using the service, you’re trusting it to keep your funds safe throughout the various yield-generation activities.
The company is offering some of its native tokens for the ones who learns more about it. The user must have complicated KYC and created an account to claim the $5 free bonus.
How to participate in CakeDefi Learn & Earn Quiz?
1) Tap on the link given below and create your new account on CakeDefi.
2) Enter your name, email id, password, country and the below given referral code.
3) Verify your email id by entering 6 digit code.
4) Complete KYC verification, which is mandatory to claim the rewards.
5) Go to learn & earn section there you will get all live quizzes.
6) Take the DeFiChain quiz, submit the answers and earn $5 worth DFI tokens.
CakeDefi DeFiChain Quiz Answers
Q1) How can DeFiChain be described in one sentence?
Answer: A. DeFiChain is a blockchain dedicated to Native Decentralized Finance for Bitcoin.
Q2) What is Decentralized Finance?
Answer: B. Decentralized Finance are all types of financial applications without the need of a third party intermediary like a bank
Q3) What are the benefits of #NativeDeFi?
Answer: C. Native DeFi is more secure than non-Native DeFi because the consensus happens directly on the native blockchain layer, instead of getting compiled and running through a virtual machine like on Ethereum.
Q4) What are the main ways to earn incredibly high yields with DeFiChain?
Answer: B. Staking and Liquidity Mining offer great and easy ways for anyone to earn block rewards with over 50% yearly returns.
Q5) What is DeFiChain’s Decentralized Exchange?
Answer: D. DeFiChain’s decentralized exchange is the cornerstone of most decentralized financial applications in the DeFiChain ecosystem, enabling trading, liquidity mining and more