2022-12-16 23:02:34
#Land_Finance #LearnToLEND #Galxe #NFT
Quiz 3
https://forms.gle/7H1kGTZ492hXchst8
1.Why is safety important for the LEND ecosystem?
To protect user funds and the health & longevity of the LEND ecosystem.
2.How do you know the LEND smart contracts are safe to deposit assets into?
All LEND smart contracts have been audited by security experts from PeckShield & d3ploy.
3.How does LEND protect Lender's assets so they can LEND & earn with little risk?
Lender's are able to lend with little counterparty risk as all borrowers are required to be overcollateralized before taking a loan. Bad debt will get automatically liquidated from the protocol to protect Lender's original deposits.
4.How does LEND protect users from market manipulation?
LEND will only ever support the most liquid assets on the market. This has been done to avoid protocol manipulation that might result in total systemic failure. Doing this prevents the protocol from being exposed to debt that could be easily manipulated.
5.Does LEND have any access to your deposited funds?
No LEND has NO access to your deposits - Your funds are exactly that YOURS. Deposits cannot be accessed by any other wallet besides the original depositing address..
6.Can LEND be flash loan attacked?
No. LEND has no flash loan functionality so this is not a concern.
7.How does LEND protect Borrowers from risk of liquidation?
Borrowing from LEND requires over collateralization. Meaning borrowers are much less likely to get overleveraged and subject to a potential liquidation.
8.How will LEND continue to protect users?
All of the above! LEND has got your back!
Quiz 4
https://forms.gle/NVQ52Udxa7KhyrJ76
1.How does Lending crypto in the LEND ecosystem work ?
Lenders deposit their crypto assets into lending pools, to earn competitively high interest rates
2.What will you receive when you supply native assets to the LEND protocol?
You will receive a tToken version of the supplied assets. This allows you to start earning Supply APY & Reward APY!
3.What does reward APY % mean?
Bonus interest received directly in $LEND tokens
4.What does supply APY % mean?
The base interest received from providing your assets to the pool.
5.Which statement is correct ?
Reward APY is not automatically compounded but supply APY is.
6.Can lenders lock their tokens provided via the protocol to use them as collateral to borrow against your assets?
Yes, of course!
7 When you can withdraw your supplied deposit if it has been used as collateral to create a borrow balance?
Whenever needed once u repay your borrow balance.
8.How does LEND protect Lender's assets so they can LEND & earn with little risk?
Lender's are able to lend with little counterparty risk as all borrowers are required to be overcollateralized before taking a loan. Bad debt will get automatically liquidated from the protocol to protect Lender's original deposits.
9 What does 'overcollateralized' mean?*
Users cannot ever borrow more than they have supplied to the protocol.
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