CakeDeFi learn and earn $5 in DeFiChain (DFI): quiz answers!

Cake DeFi is a cryptocurrency lending, staking, and liquidity mining platform. They use their own cryptocurrency called  DeFiChain (DFI) for both liquidity mining and staking.

To incentivize people to learn about DeFichain, they’ve got a ‘learn and earn’ promotion available for DeFiChain, that allows you to earn $5 worth of DFI.

This ‘Learn and earn’ promotion is available for all new users, and can be found here! On this page you’ll also see that there’s also a $5 BTC and $5 ETH learn & earn are coming soon!

Tip: If you don’t have an account yet: click here to sign up. Using this link, you’re also eligible for a $30 DFI sign-up bonus: deposit and invest $50+ in crypto to get your bonus!

Anyway, on to more information on the DeFiChain Learn and Earn quiz!

Cake DeFi DeFiChain (DFI) quiz: all questions and answers!

This ‘Learn and earn’ teaches you about DeFiChain, and has 5 questions to quiz you on the information you’ll learn. You’ll be awarded $1 in DFI for every correctly answered question.

To make sure you’ll earn the full $5 in DFI, here are all 5 questions and their answers!
Here are al the DeFiChain lesson questions and answers:

Question 1: How can DeFiChain be described in one sentence?

  • Answer: A – DeFiChain is a blockchain dedicated to Native Decentralized Finance for Bitcoin.

Question 2: 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

Question 3: 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.

Question 4: 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.

Question 5: 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

Every correct answer instantly rewards your Cake  DeFi account with $1 worth of DFI.

It’ll show up in your transaction overview like this:

The reward DFI will automatically be ‘frozen’ for 180 days. This means they’ll show up in your Cake DeFi ‘freezer’. Being ‘frozen’ means these coins are staking for a fixed period of time.

At the time of writing, the base staking APY for DeFiChain is 33,6%. You can get a higher APY for freezing your DFI: the longer, the higher the APY.

You can freeze your DFI for a period of month, all the way up to 10 years – which doubles the APY.