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Binance Quiz L&E Answers 🔥

--------------- PAXG TOKEN -------------

1. The Value Of A PAXG Token Is Equal To.
👉 1 Troy Oz Of Physical Gold

2. How Do I Know PAXG Is Fully Backed By Physical Gold?
👉 An Independent Auditing Firm Performs Monthly Checks On Paxos’ Gold Reserves.

3. PAXG Storage Fees Are.
👉 0.00%

4. When You Own PAXG, You Own Physical Gold. True Or False?
👉 True

5. Holds all customer assets, including PAXG, safely separate from any corporate funds and the company balance sheet. True or False?
👉 True

6. PAXG is regulated and approved by ____
👉 New York State Department of Financial Services

7. How can a PAXG holder look up their vaulted physical gold's serial number and physical characteristics?
👉 Enter their Ethereum wallet address on the PAXG lookup tool.

8. Where are PAXG’s physical gold reserves stored?
👉 London Bank Vaults

9. Which gold tokens can be redeemed for physical gold?
👉 PAX Gold (PAXG)

10. PAXG is built as an ____
👉 ERC-20 token on the Ethereum blockchain

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------------------ SKALE TOKEN ---------

1. How much are gas fees on the SKALE Network?
👉 Zero

2. What type of blockchain is the SKALE Network?
👉 Modular Layer1/Layer2 Hybrid

3. What types of decentralized applications run on SKALE?
👉 All are correct

4. How does SKALE improve User Experience?
👉 All are correct

5. The SKALE network supports thousands of independent blockchains, multi-chains, and storage chains with zero gas fees, faster commit times, and increased transaction throughput. True or False?
👉 True

6. How does SKALE increase the supply of SKALE Chains?
👉 Incentivizing SKALE chain creation through surge pricing.

7. SKALE is Ethereum compatible. True or false?
👉 true

8. How many Elastic Sidechains can be created in the SKALE ecosystem?
👉 An unlimited amount

9. Earn Passive Income on Binance “Locked staking” refers to the process of locking your digital assets on a _ for a certain period of time.
👉 Proof of Stake blockchain

10. With Binance Locked Staking, redemption doesn’t require a certain unlocking period. True or false?
👉 false

11. What can you NOT do on Binance Earn?
👉 Conduct leveraged trading to amply the returns

12. Which of the following is a form of passive income?
👉 Alice stakes her crypto holdings

13. What can you do with Binance Earn?
👉 Select different products to grow your crypto holdings

14. What is NOT staking?
👉 Generate returns by trading your coins

15. Once you subscribe to the Locked Staking, interests will be calculated from the following day, and are distributed to your Spot Wallet every day. True or false?
👉 true

16. When the Locked Staking process is complete, the staked assets will be redeemed automatically and returned to your
👉 spot wallet

17. Binance Locked Staking’s locking period for different products is the same. True or false?
👉 false

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--------------- STP TOKEN ------------

1. What chains is STP bridging with its cross-chain technology?
👉 Ethereum to Polygon

2. Which participation metrics are trackable on Clique?
👉 All are correct

3. Which technology enables cross-chain governance on STP?
👉 Data Bridge

4. What problem does Clique solve?
👉 Fragmentation of DAO tools in the space

5. What is the main use case of STPT?
👉 Governance

6. What are the two main functions of Clique?
👉 DAO creation and DAO management

7. What type of DAOs does STP have a pre-made template for?
👉 Investment DAO, Membership DAO, and Project DAO

8. What is the native coin of STP?
👉 STPT

9. What is Clique
👉 The all-in-one DAO platform that enhances member participation in DAOs through a single platform for everything DAO-related, whether it be voting, proposals, social posts, analytics, token management, etc.

10. For DAOs on layer-1 blockchains, how is the voting power for governance on Clique determined?
👉 The voting power will be dependent on the amount of native DAO tokens held by users in their wallet using the cross-chain technology

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