What is QI?
QI is a decentralized liquidity protocol that enables users to swap tokens across different blockchains without going through a centralized exchange. QI is powered by the QI token, which is used to secure the network and to incentivize users to provide liquidity to asset pools.
What are the benefits of using QI?
- Decentralized: QI is a decentralized exchange, meaning that users do not need to trust a third party with their assets.
- Non-custodial: QI is a non-custodial exchange, meaning that users retain full control of their assets at all times.
- Cross-chain: QI allows users to trade digital assets across different blockchains, without having to use a centralized exchange.
How does QI work?
QI works by using a system of automated market makers (AMMs). AMMs are smart contracts that create liquidity pools by matching buyers and sellers of assets. When a user wants to swap tokens on QI, they interact with an AMM, which swaps their tokens for them.
What is the QI token?
The QI token is the native token of the QI protocol. It is used to secure the network and to incentivize users to provide liquidity to asset pools. QI token holders can also vote on the overall direction of the QI protocol via the QI DAO.
What is the Binance QI quiz?
The Binance QI quiz is a quiz that users can take on the Binance website to earn rewards in QI tokens. The quiz covers basic information about QI and the QI token.
How to take the Binance QI quiz
- Go to the Binance website and log in to your account.
- Click on the “Learning” tab.
- Under “Quizzes”, click on the “Binance QI Quiz“.
- Answer the questions in the quiz.
- Once you have answered all of the questions, click on the “Submit” button.
Here are the answers to the Binance QI quiz:
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Which of the following best describes QI?
- Answer: A. A decentralized liquidity protocol that enables users to swap tokens across different blockchains without going through a centralized exchange.
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What is the utility of the native QI token?
- Answer: All of the above.
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QI uses a system of automated market makers (AMMs) to facilitate cross-chain swaps.
- Answer: True.
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QI is a non-custodial exchange, meaning that users retain full control of their assets at all times.
- Answer: True.
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QI token holders can vote on the overall direction of the QI protocol via the QI DAO.
- Answer: True.
Disclaimer:
If you pass the quiz, you will earn rewards in QI tokens. The rewards will be distributed to your Binance account within 7 business days.
