REF Quiz
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
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
No
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
No
Can I make more 'money' by holding tokens A and B than by providing the same amounts in a liquidity pool?
Yes
No
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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