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REF Quiz

A visually engaging and colorful illustration depicting decentralized finance concepts, including liquidity pools, swapping tokens, and market dynamics. Include elements like graphs, tokens, and abstract blockchain visuals.

Swap Smarts: Test Your Knowledge on Ref Finance

Are you ready to dive deep into the world of Ref Finance? This quiz is designed to challenge your understanding of liquidity swaps, market dynamics, and the intricacies of decentralized finance (DeFi).

Discover your knowledge level and gain valuable insights through questions covering:

Swap mechanics and impact
Price fluctuations
Liquidity pools
Understanding risks

9 Questions2 MinutesCreated by SwappingMaster302

What determines the swap rate of tokenA/tokenB on Ref Finance?

Current liquidity in all tokenA/tokenB and tokenB/tokenA pools

Price of the same pair on Coingecko or Coinmarketcap

The tokenA/tokenB or tokenB/tokenA pool that gives the maximum swap-out amount for any given swap-in amount

If I want to swap tokenA for tokenB, does the quantity of tokenA that I want to swap have an impact on the swap rate?

Yes

What does 'price impact' mean?

The difference between today's and yesterday's price of a token

The difference between what you expect to get and what you actually get due to other trades executing first

How much a trade moves the market price, based on the depth of the market

What does 'slippage' mean?

The difference between what I expect to get and what I actually get due to other swaps executing first

A market crash

A very small percentage change in price when I execute a swap

In the context of Ref Finance, What is (x * y = k)?

The Constant Product Formula that determines the price

A random equation

The farming reward formula

If I provide liquidity in tokenA/tokenB pool, and price of tokenA/tokenB changes significantly, will I get the same quantity of tokenA and tokenB as initially provided after removing my liquidity?

Yes

Can I make more 'money' by holding tokens A and B than by providing the same amounts in a liquidity pool?

Yes

If tokenA is whitelisted on Ref Finance, does that mean:

TokenA is legit and well established, I can't lose money

Ref Finance has done a strong due diligence of the project behind tokenA

Although Ref has done a 'prescreening' of the project, I am responsible for doing my own due diligence of the project

Which best describes the risks of using Ref Finance?

Not being able to access the platform due to Internet connectivity issues

Complete loss of funds that can be caused by, not limited to, Smart Contract risk, Counterparty risk and / or Market risk

Can't lose more than 90% of my portfolio in a day

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