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Cryptocurrency Tokenomics Quiz

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Questions and Answers

What is tokenomics?

The set of principles and rules that govern the design, distribution, and use of a cryptocurrency (correct)

The set of principles and rules that govern the design, distribution, and use of a stock

The set of principles and rules that govern the design, distribution, and use of a bond

The set of principles and rules that govern the design, distribution, and use of a commodity

What is a white paper?

A detailed document explaining the proposed cryptocurrency and how it and any underlying technology will work (correct)

A detailed document explaining the proposed stock and how it and any underlying technology will work

A detailed document explaining the proposed bond and how it and any underlying technology will work

A detailed document explaining the proposed commodity and how it and any underlying technology will work

What is TerraUSD?

A network of arbitrageurs

A cryptocurrency

A stock

A stablecoin (correct)

What is the purpose of TerraUSD?

To keep the price of UST as close to $1 as possible at all times Signup and view all the answers

What is one benefit of TerraUSD’s tokenomics system?

Accessible opportunities to make low-risk gains through arbitrage trading Signup and view all the answers

What is the main token in Terra’s ecosystem?

TerraUSD Signup and view all the answers

What is the goal of arbitrageurs in Terra’s ecosystem?

To keep the price of UST as close to $1 as possible at all times Signup and view all the answers

What is the relationship between TerraUSD and LUNA?

They are complementary Signup and view all the answers

What is a key feature of TerraUSD’s tokenomics system?

Low-risk gains Signup and view all the answers

What document outlines tokenomics?

A white paper Signup and view all the answers

Study Notes

Tokenomics is the set of principles and rules that govern the design, distribution, and use of a cryptocurrency.
Tokenomics is often outlined in a white paper, which is a detailed document explaining the proposed cryptocurrency and how it and any underlying technology will work.
One of the main stablecoins in Terra’s ecosystem, called TerraUSD (UST), relies on a network of arbitrageurs, who swap UST with another of Terra’s tokens, LUNA, to keep the price of UST as close to $1 as possible at all times.
This complex tokenomics system appeals to investors because it creates accessible opportunities to make low-risk gains through arbitrage trading.

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Description

Test your knowledge on the principles and rules governing the design, distribution, and use of cryptocurrencies, as well as the intricate systems that support stablecoins like TerraUSD (UST) in the cryptocurrency market.