Binance Learn and Earn platform allows users to earn cryptocurrency rewards by learning about new projects and tokens. The latest Binance Lido (LDO) quiz answers offer rewards in LDO tokens for answering questions correctly.
This guide provides the Binance Lido quiz answers to earn LDO tokens from Binance Learn and Earn. Refer to CoinTips for the latest Binance learn and earn quiz answers.
What is Lido?
Lido is a liquid staking solution that allows users to stake Ethereum and other proof-of-stake (PoS) assets without locking up funds or meeting minimum deposit requirements. Users deposit tokens into Lido’s staking pool contract and receive staked representative tokens like stETH on a 1:1 ratio.
stETH tokens can be used similarly to ETH, allowing holders to earn staking rewards while retaining liquidity. The staked assets are managed by professional node operators that stake and validate transactions on behalf of Lido users.
Lido also supports staking and liquidity for PoS networks like Kusama, Solana, Terra, and more. The platform is decentralized and governed by the LDO token. LDO holders can participate in governance votes and steer the development of the protocol.
Binance Lido (LDO) Quiz Answers CoinTips
Here are the quiz answers to earn LDO tokens on Binance Learn and Earn:
- What problem is Lido trying to solve in PoS staking?
Answer: All are correct
- What do users receive after staking their tokens on Lido?
Answer: Assets that represent their staked tokens on a 1:1 basis, e.g., stake ETH and get stETH tokens
- Where do users deposit their PoS token on Lido?
Answer: The Lido staking pool smart contract
- What can holders do with LDO?
Answer: Vote on decisions in the Lido DAO
- Why does Lido operate as a DAO?
Answer: All are correct
- What can users do with their stETH tokens?
Answer: All are correct
- What is the name of the utility token on Lido?
Answer: LDO
- In addition to Ethereum, which PoS blockchain does Lido support?
Answer: Polkadot
Rewards for Binance Learn and Earn Program
The Binance Learn and Earn program offers rewards in the native tokens of various crypto projects. For the Lido quiz, users can earn 0.3 LDO tokens valued around $0.30.
Rewards amounts may vary depending on the quiz but are typically around $0.30-1 worth of tokens. Users have 48 hours to claim their rewards after passing the quiz.
Projects Featured on Binance Learn and Earn
In addition to Lido, other projects frequently featured on Binance Learn and Earn include Polkadot, Tezos, Dogecoin, BurgerSwap, Ethereum Name Service and more. New quizzes are added regularly covering popular DeFi protocols, layer 1 blockchains and emerging crypto concepts.
How to Participate in Binance Lido Quiz
To participate, users need a verified Binance account. They can then access the Learn and Earn section via the Binance website or mobile app. After reading materials and watching videos for a project, users take a short quiz. Scoring over 70% earns the announced token rewards within 48 hours.
Key Benefits of Lido
- No minimum deposit requirements, open to anyone
- Liquidity – stETH can be used in DeFi while earning staking rewards
- Professional node operators handle staking, validating
- Support for multiple PoS chains beyond Ethereum
- Decentralized governance by LDO holders
Lido has quickly become a popular staking solution, with over $5 billion worth of assets staked on the protocol. The liquidity offered by staked derivative tokens like stETH is a major advantage for users who want to retain exposure or utilize tokens in DeFi.
As more chains transition to PoS consensus, Lido can provide convenient staking access and liquid staked assets. The rewards offered on Binance Learn and Earn are a great way to get hands-on experience with this leading staking protocol.
