#LearnToLEND 03 | LEND Ecosystem Safety

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LEND Finance has many fantastic opportunities for our community to get rewarded, the #LearnToLEND campaign is one of them!

The #LearnToLEND campaign is an educational program designed for community members new & old to learn about the LEND Finance ecosystem, answer simple quizzes and earn fantastic rewards!

⏱ Quiz Topic: 03 - LEND Ecosystem Safety
🎁 Reward: 1 NFT badge powered by Galxe

🤝 Claim: HERE ON GALXE - (Claim may take a little while as this requires a snapshot)

💎 Collect all badges (8/8) in the #LearnToLEND collection to earn the #LearnToLEND Master NFT & Take part in exclusive NFT holder giveaways, airdrops & more!

📍Make sure you have read our gitbook : ✅ LEND Official Gitbook

✅ Useful resources:
This is the useful resources section for this #LearnToLEND topic! These are sections of our Gitbook & other resources we think will provide you with all the information you need to ace the quiz and claim your NFT!
📚 LEND Protocol Beginner's Guide - Medium Article
🔒 LEND Ecosystem Safety - Gitbook Page
📊  How does Lending work

👇How to take part:
1️⃣ Read the LEND Finance gitbook
2️⃣ Answer this simple quiz & score 90/90 points
3️⃣ Wait for snapshot to complete (1-2 days) 
4️⃣ Mint the NFT badge for this section
5️⃣ Complete all other #LearnToLEND quizzes 

📄Read the #LearnToLEND campaign details: ✅ #LearnToLEND Campaign Page 

✅ Complete this form to start to #LearnToLEND & begin your journey into the LEND Finance ecosystem.

Q1) Why is safety important for the LEND ecosystem? *

10 points

To help $LEND pump.

For CEX listings.

For regulations.

To protect user funds and the health & longevity of the LEND ecosystem.

Q2) How do you know the LEND smart contracts are safe to deposit assets into?
*

10 points

All LEND smart contracts have been audited by security experts from PeckShield & d3ploy.

Because they have high APR.

YOLO - Who cares?!

Because we said so.

Q3) How does LEND protect Lender's assets so they can LEND & earn with little risk?
*

10 points

Lenders are protected by a team of hard-working liquidation robots that protect your deposit

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.

Governance.

Liquidations.

Q4) How does LEND protect users from market manipulation?
*

10 points

LEND uses proprietary price oracles to prevent 3rd party 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.

LEND will only allow verified KYC customers to borrow from the LEND markets.

Good faith...

Q5) Does LEND have any access to your deposited funds?
*

10 points

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..

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.

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....

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...

Q6) Can LEND be flash loan attacked?
*

10 points

No. LEND has no flash loan functionality so this is not a concern.

No. Flash loans are protected by our over collateralization requirement.

No. Flash loans are subject to a higher collateral rate meaning a risk liquidation

Q7) How does LEND protect Borrowers from risk of liquidation?
*

10 points

Borrowers have to be KYC'd and approved before a borrow balance can be created.

Borrowing from LEND requires over collateralization. Meaning borrowers are much less likely to get overleveraged and subject to a potential liquidation.

Borrowers can only borrow 1% of their provided collateral.

Borrowers decide their own personal risk level.

Q8) How will LEND continue to protect users?
*

10 points

All future releases will be subject to the same level of high scrutiny we have established at this point.

Operational treasury is subject to high level of risk management to ensure protocol longevity and sustainability.

We will be continually running active Bug bounties to identify any new issues discovered down the line.

All of the above! LEND has got your back!

Submit your BEP-20 Wallet Address for NFT claim *

Congrats on making it to the end of the quiz! Submit the BEP-20 wallet you would like to mint the NFT for this section of #LearnToLEND with. Once you have scored 100% you will be eligible to mint.

🚨Remember! If you don't score 100% straight away you can always try again! Check your results! 🧠

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