Coinbase Earn - Maker DAO

Coinbase Earn $6 - Learn Maker. Earn Maker. Questions and Answers!

By Nevsie | Beginner in Crypto | 2 Oct 2020


As everyone knows, and for those who have completed the earlier Coinbase Earn tutorials - the process follows a simple path. Watch a video, answer a question, get your reward.

The Maker Dao tutorial follows the exact same path and in the below you can follow through my progress.

1. What is MakerDAO?

MakerDAO is a decentralized organization whose mission is to enable greater financial freedom. It uses the Maker protocol and two native tokens, MKR and DAI, to let anyone borrow funds by supplying collateral.

Question: What are the native assets of the Maker protocol?

Answers:
ETH and USDC
USDC and DAI
MKR and DAI - Correct
MKR and ETH
BTC and ETH


2. Maker governance

All upgrades to MakerDAO are decided by the community of MKR token holders. The system is structured to reward prudent management and always ensure Dai is backed by an excess of collateral.

Question: Who runs MakerDAO?

Answers:
The Maker Team
Ethereum Miners
Key Members of the Ethereum Team
MKR Holders - Correct
DAI Holders


3. What’s the vision for MakerDAO?

By providing secure, stable, and transparent financial tools, MakerDAO hopes to increase economic empowerment for users around the world.

Question: What do you need to generate DAI today?

Answers:
An Ethereum Node
An approved application from a supported bank
A mobile phone or laptop computer
A Crypto Wallet and Crypto Collateral - Correct
USDC, USDST, or another stable coin

 

So all in all, this was a very easy tutorial / lesson. The questions and answers are similar to others they have already posted, and in fact they answer the first two questions in the tutorial description!

However, watching the videos is advisable, as after-all, learning about this Crypto Asset is what you are being "paid" for!

How do you rate this article?

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Nevsie
Nevsie

Interests in crypto are sparked from my curiosity to learn all things new. As a web developer, I love new concepts, toys, methods, and tools. The RPi is a great example of learning things for the sake of it, but practical use. That is my admiration.


Beginner in Crypto
Beginner in Crypto

No expert, no qualifications, just insights and notices from a person learning crypto.

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