Quiz time

Quiz: Decentralized Finance (DeFi)

Decentralized Finance (DeFi) is an emerging application of blockchain technology. Test your knowledge of DeFi with this Swyftx Learn quiz.

Back to course

To complete this quiz you will need to get a score of 70% or higher. You can take this quiz as many times as you'd like to try and improve your score.

Question 1

Decentralized finance (DeFi) provides access to a range of financial products without relying on a central authority.

True False

That's right!

Oops! Try again.

Question 2

What does decentralized finance involve?

Lending and borrowing assets to and from other users Decentralized exchanges Executing smart contracts Interacting with decentralized applications All of the above

That's right!

Oops! Try again.

Question 3

The Bitcoin blockchain is the foundation for the majority of decentralized finance.

True False

That's right!

Oops! Try again.

Question 4

The most popular use for decentralized applications (dApps) is...

Decentralized exchanges Sending NFTs Submitting applications to job and rental agencies None of the above

That's right!

Oops! Try again.

Question 5

DEX stands for Deterministic Expansion

True False

That's right!

Oops! Try again.

Question 6

What is an Automated Market Maker?

A protocol that automatically makes trades for a user A system that ensures there is always enough liquidity to make trades A code function that automatically lists new markets on an exchange All of the above

That's right!

Oops! Try again.

Question 7

A liquidity pool is a decentralized pool of digital assets that is used to provide trading liquidity

True False

That's right!

Oops! Try again.

Question 8

The main advantage of a decentralized exchange is...

Users own their private keys Increased privacy due to the lack of know your customer (KYC) controls Large range of low cap alt coins All of the above

That's right!

Oops! Try again.

Question 9

Staking is a way to earn rewards through locking up cryptocurrency to secure a blockchain network

True False

That's right!

Oops! Try again.

Question 10

Staking rewards are usually paid out in...

USDT BTC The cryptocurrency you are staking All of the above

That's right!

Oops! Try again.

Please make sure you have answered all questions.

You passed

You got % correct!

Scroll up to see which questions you answered correctly/incorrectly.

Hi,