Whats’s CEX Quiz Answer April 4? Find the Answers to Today’s Quiz and Earn 10,000 CEXP Points.
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CEX Quiz Answer April 4
Here are the today’s questions and answer. Check out the image below. Then, you can find other questions below the image.
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Task Q1: What People Get Wrong About ‘Utility’ in Crypto
- What is the key takeaway from the video?
✅ Not all “utility” in crypto is real utility - What should a token with real utility do?
✅ Solve a problem or improve efficiency - What does it mean if a project still functions without its token?
✅ The token might not be necessary - Why do some projects claim to have “utility”?
✅ To justify launching a token - Which of the following is often labeled as “utility” in crypto?
✅ Staking and governance tokens - What does “utility” mean in the real world?
✅ Something that is actually useful - What should you do when someone hypes a token’s utility?
✅ Ask what it actually does - What is often the real use case for some tokens?
✅ Making the founders rich - What is a common red flag in projects that promote “utility”?
✅ They use vague marketing language - What happens when you ask some projects what their token actually does?
✅ They struggle to give a clear answer - What is a common mistake people make about utility in crypto?
✅ They assume every token with “utility” has real value - How can you test if a token’s utility is real?
✅ See if the project still works without it
Task Q2: Yield Farming: Crypto Cash or Rollercoaster Crash?
- Who might enjoy yield farming the most?
✅ Crypto cowboys who like high risk - What’s a risk called when staked token values drop due to price swings?
✅ Impermanent loss - What do you need to start yield farming?
✅ A crypto wallet with some tokens - Why is diversifying important in yield farming?
✅ It spreads out your risk - How can you reduce risks in yield farming?
✅ Research platforms with a good track record - What’s a major benefit of yield farming?
✅ High yields compared to savings accounts - What does yield farming help DeFi platforms do?
✅ Run their operations smoothly - What is yield farming in simple terms?
✅ Lending crypto to DeFi platforms for rewards - What’s a key trait of yield farming mentioned?
✅ It’s highly volatile - What’s a “rug pull” in yield farming?
✅ A shady project that scams users - What can happen if a smart contract has a bug in yield farming?
✅ Your funds might disappear - Which platform type is commonly used for yield farming?
✅ DeFi platforms like Uniswap
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