Binance Hifi Finance quiz answers
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This crypto site launches new quiz occasionally that gives assured crypto reward of up to $5 per quiz if you complete a quiz with a 100% score.
Here is the link for – Binance learn & earn quiz.
Open the above link and take the quiz, currently Hifi Finance quiz is live that can give you 5 HIFI token worth $1.5 as per its current price.
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Quiz Details, Rewards & Winners
| Quiz is about | Hifi Finance |
| No of questions | 12 |
| Crypto reward | 5 HIFI token |
| 5 HIFI worth | Approx. $1.5 |
| Winners | First come, first serve |
Binance Hifi Finance Quiz Answers
1. To what can Hifi Governance allocate the resources from the fee switch?
Answer: All of the above.
2. What is the purpose of Hifi Finance?
Answer: Provide a new way of lending and borrowing.
3. What makes Hifi unique compared to other lending protocols?
Answer: Its fixed interest rate offering.
4. Who is responsible for managing the Hifi Lending Protocol?
Answer: HIFI token holders
5. What are the three ways in which users can earn a return in Hifi Finance?
Answer: Lending, providing liquidity, and protecting the protocol from bad debt.
6. Who manages the administrative functions in the Hifi Lending Protocol?
Answer: HIFI token holders
7. What is the role of Liquidators in Hifi Finance?
Answer: Sell off collateral and pay off debt for risky borrowers.
8. What is the role of HIFI token holders in Hifi Governance?
Answer: Both A and B.
9. Who votes on which assets users can borrow against in Hifi Finance?
Answer: HIFI token holders
10. What is the purpose of the fee switch in the Hifi Lending Protocol?
Answer: To capture an origination fee.
11. How do Liquidity Providers earn a reward in Hifi Finance?
Answer: Providing liquidity for interest-rate markets
12. What is Hifi Finance (HIFI)?
Answer: A decentralized lending protocol built on Ethereum.
