This page will take you through Cake Defi’s DeFiChain lesson.
- Sign up for KuCoin exchange using our referral link and enjoy a 5% discount on trading fees!
Cake Defi DeFiChain (DFI) lesson answers
Question 1: How can DeFiChain be described in one sentence?
Answer: "DeFiChain is a blockchain dedicated to Native Decentralized Finance for Bitcoin."
Question 2: What is Decentralized Finance?
Answer: "Decentralized Finance are all types of financial applications without the need of a third party intermediary like a bank."
Question 3: What are the benefits of #NativeDeFi?
Answer: "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."
Question 4: What are the main ways to earn incredibly high yields with DeFiChain?
Answer: "Staking and Liquidity Mining offer great and easy ways for anyone to earn block rewards up to 18.12% yearly returns."
Question 5: What is DeFiChain’s Decentralized Exchange?
Answer: "DeFiChain’s decentralized exchange is the cornerstone of most decentralized financial applications in the DeFiChain ecosystem, enabling trading, liquidity mining and more."
How to sign up to Cake DeFi DFI lesson
Participate in Cake Defi's learn & earn scheme by following the steps below:
- Register to Cake DeFi
- On Cake Defi’s homepage visit the Learn & earn page
- Select the DeFiChain Lesson
- Take the lesson by answering the questions listed above to earn $1.00 in crypto
More Cake Defi lessons: Cake Defi Bitcoin Lesson Answers: How To Earn BTC On Cake Defi