Bake (formerly CakeDefi) is a safe, transparent, and easy way to get returns on your crypto investments.
You can also buy Bitcoin and Ethereum or swap them for other popular coins.
Use Decentralized Finance services like staking or liquidity mining and earn high yields.
Take Bake’s Learn & Earn crypto quizzes and earn crypto for free.
Sign up now to start earning rewards: bake.io/?ref=5043333 or use “5043333” as the referral code.
In this guide, you’ll learn the Bake (CakeDefi) DeFiChain quiz answers for the “Learn & Earn” rewards feature to earn $1 DFI.
Bake DeFiChain Quiz Answers
Question: How can DeFiChain be described in one sentence?
Answer: (A) DeFiChain is a blockchain dedicated to Native Decentralized Finance for Bitcoin.
Question: 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: 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: 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 up to 26.44% yearly returns.
Question: 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.