Quiz 1 - Introduction and overview of DeFi

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DeFi MOOC

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Question 1 - Which of the following statements is correct? *

1 point

It is a DeFi service if the user controls the financial assets in a financial service (non-custodial).

It is a DeFi service if no one can single-handedly censor a transaction execution.

It is a DeFi service if no one can single-handedly censor the DeFi service protocol execution.

None of the above is correct.

Fun Fact

Did you know commonly perceived DeFi assets (such as USDC or USDT stable coins), are in fact centrally governed, allowing a single entity to censor or even destroy cryptocurrency assets? We find that nearly 44M blacklisted USDT were destroyed by Tether Operations Limited.

Question 2 - Which of the properties listed below is not a DeFi feature? *

1 point

Public verifiability - While the DeFi application code may not be open source, the execution trace and bytecode must be publicly verifiable on the blockchain. DeFi users can inspect the DeFi state transitions and verify their orderly execution.

Custody - DeFi allows its users to control their assets directly and at any time of the day.

Privacy - State-of-the-art DeFi offers real anonymity. Blockchain addresses cannot be clustered and traced.

Atomicity - A blockchain transaction can combine multiple financial operations. Either the transaction executes in its entirety with all its actions, or fails collectively.

Question 3 - Asset tokenization describes the process of adding new assets to a blockchain. It makes assets more accessible, easy to transfer and programmable. Which of the following statements is wrong? *

1 point

Governance tokens typically represent voting power on a DeFi service.

Security tokens can be used to represent assets of different classes including equity, fixed income, real estate and etc.

Each Non-fungible token (NFT) is unique.

Stable coins, as their name implies, are always stable.

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