Pledge Finance
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Pledge Finance

Pledge Finance Community Trivia Quiz #2

Pledge Finance conducted the second community Trivia Quiz on 21st Dec, it was fun and resourceful. The channel witnessed buzzing participation and exhilarating responses. Thanks to all of you for participating.

Here is a quick recap for your ready reference:

Quiz Rules:

  • Everyone could participate
  • Everyone was requested to be respectful, always
  • All questions were asked from the website/social channel updates

Following were the quiz questions:

Q1. Pledge offers floating rate loans. True or False.

Correct Response:

False, Pledge offers fixed rate loans.

Q2. Pledge tokens are on ETH. True or False. Correct Response:

Pledge Finance is based on Binance Smart Chain.

Q3. Pledge Finance uses which of the following to implement the lending functionality:
1. aToken
2. mToken
3. pToken
4. xToken

Correct Response:

Pledge protocol facilitates fixed-rate, fixed-term crypto asset lending and borrowing using pTokens. pToken offers a simple way for Pledge users to commit to transfers of value at times in the future.

Q4. Does Pledge have a community outreach program? Yes or No.

Correct Response:

Yes, it’s called Community Ambassadors program

Q5. What is the total count of the $PLGR token?
Correct Response:

300,000,000

Q6. What is the overall governance token called?

Correct Response:

MPLGR (Master Pledge Token)

Q7. Is Pledge protocol an NFT marketplace or DeFi product?

Correct Response:

Pledge is a DeFi product

Q8. Pledge bridges TradFi & DeFi, Correct or Incorrect?

Correct Response:

Correct

Q9. Which of the following are types of users interacting with the Pledge platform? Select the right option.

  1. Borrowers
  2. Lenders
  3. Liquidity Providers
  4. All of the above

Correct Response:

All of the above: Borrowers, Lenders and Liquidity Providers

“Now let’s have a few questions on borrowing, clue: please refer the whitepaper: https://www.pledger.finance/static/media/PledgeWhitepaper.pdf ”:

Q10. Is collateral required in the loan process?

Correct Response:

Yes, the liquidation process will first extract collateral from liquid token balances before proceeding on to other balances with no immediate liquidity.

Q11. Is KYC required for securing a loan from Pledge? Yes or No.

Correct Response:

Yes, Pledge follows a rigorous KYC standard.

Q12. Borrowing Step 1: What is the first step in borrowing?

Correct Response:

First step in borrowing is to deposit stable coins. The Borrower deposits an amount of stablecoin such as ETH, USDC or DAI to put up as collateral.

Q13. Borrowing Step 2: In the next step, the borrower decides how much money he/she would need to borrow and how much time he/she would take to pay off the borrowed amount. Will a borrower interest rate be displayed on screen? True or False.

Correct Response:

True, a borrower interest rate on screen will appear for the borrower to pay while taking the loan out.

Q14. Borrowing Step 3: After the rate is approved by the borrower, what is the next step in the borrowing process?

Correct Response:

Step 3: The borrower will receive pTokens worth the value desired in the borrowed amount after approving the borrower.

Q15. Borrowing Step 4: Can borrower swap pToken in exchange of other digital assets? Yes or No.
Correct Response:
Yes, Step 4: The borrower can now sell the positive pToken into its liquidity pool in exchange for other digital assets, typically in the form of a stablecoin such as DAI or USDC.

Q16. Pledge is an algorithm-driven smart contracts platform that supports how many dimensions in an interest swap. The options are:
A. 1 dimensional

B. 2 dimensional

C. 3 dimensional

D. N-dimensional

Correct Response:

N dimensional

Q17. Borrowing Step 5: Can the borrowed amount be less than the collateralized amount? Yes or No.
Correct Response:
No, the borrowed amount must be less than the collateralized amount.

Q18. Does Pledge allow users to customize interest rates?

Correct Response:

Yes, Pledge uses a novel liquidity curve based on logit function, institutions are able to set yield curves that are acceptable to them.

Q19. Pledge protects against riskier loans. Yes or No.

Correct Response:

Yes, Pledge uses Monoline Insurance Protection For Riskier Loans.

Q20. Borrowing Step 6: Select the right option, Borrower can pay the loan through:
1. Repay the owed currency

2. Repay through collateral

3. Repay either using the currency that was owed or the collateral

Correct Response:
When the debt matures at a future date, the borrower can either repay the currency that was owed or their collateral can be used to cover their debt to the protocol.

About Pledge Finance

By solving the greatest risk of interest rate volatility in the DeFi market Pledge attracts a large number of crypto-asset traders and lenders. Pledge is not just another lending protocol that just serves the crypto traders who borrow digital assets for day trading, Pledge is a crypto-assent lending protocol that serves all. The rate swap system built by the expert team of Pledge serves well for long-term financing by protecting both parties against market risks.

Pledge’s innovation will open new and powerful opportunities for both the crypto-asset holders and the DeFi industry.

Read more about Pledge Finance here:

Website | Twitter | Telegram Chat | Telegram Announcements | Medium

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Founding team of Pledge believes Bitcoin along with other cryptocurrency is a new kind of asset class. Cryptoassets holders should be able to collateralize and borrow against them just like real estate. Our mission is to bring borrowers and lenders together in the most efficient

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