1Inch Token is the latest Coinmarketcap Learn and Earn campaign and users who will successful respond all the questions of the quiz will receive 3 $1INCH tokens (about $5.50) out of total 50,000 rewards pool, distributed on their KYC-verified Binance account.
What Is CoinMarketCap Learn and Earn?
CoinMarketCap Learn and Earn enables users to receive tokens while learning about a new cryptocurrency project. Each user needs to watch a series of educational videos about a crypto project and complete a quiz consisting of several questions about the project's basic information. There main challenge of the quiz is that the user needs to answer ALL questions correctly, otherwise no reward is provided.
It should be also noted that the content provided on CoinMarketCap Learn and Earn doesn't mean to provide any financial or investment advice from the platform and it serves purely as educational content for the CoinMarketCap users.
What Is 1inch?
1inch is a decentralized exchange (DEX) aggregator, connecting several DEXes into one platform to allow its users to find the most efficient swapping routes across all platforms. In order for a user to find the best price for a swap, they need to look at every exchange — DEX aggregators eliminate the need for manually checking, bringing efficiency to swapping on DEXs.
Since the launch of the campaign, a quick web search would result in hundreds articles and blog posts in various blogging platforms especially in Publish0x, in Medium and in LeoFinance providing the "correct" answers to the quizzes or at least the recommendations from their authors about what the correct answers of the quiz should be.
Even worse, the fact that all the blog posts are providing exactly the same identical answers, there is no guarantee that these are indeed the correct ones.
My initial questions while browsing all these articles were
"Are these answers correct?
What justifies that the answers provided from all these bloggers and authors are correct ensuring that if I will also choose these answers too, I will end up with 3 1NCH tokens into my Binance flexible savings account?
What about bad actors?
What if someone has published on purpose the wrong answers and everybody started blindly replicating these wrong answers in their blogs resulting that everybody else that provided these wrong answers in the quiz would fail, losing the rewards?
Even 1 wrong answer either on purpose or by wrong judgement is enough to destroy someone's hopes of the CoinmarketCap Learn and earn 1Inch airdrop.
Therefore, I decided not to just copy paste the answers provided in the previous posts and articles and do my own online research on 1Inch official website and Official Medium blog and provide not only evidence for the correct answers that have flooded the web but also my thoughts how the decision has been made. After all, it was a pleasant exercise of my online researching skills.
Question 1: What is the total supply of 1INCH tokens?
My Answer: 1,500,000,000
My justification: The answer has been provided from the link to CoinmarketCap 1INCH web page. As it is noted in the screenshot, the total supply and not the circulating supply is 1,500,000,000 1INCH.
Question 2: What is the name '1Inch' inspired by?
The p0rn industry
The English system of measurements
Oriental martial arts
One of the co-founders' favorite games
My Answer: Oriental martial arts
My justification: If you are unaware of Bruce Lee's mortal karate move, then you couldn't imagine the correct answer. In fact, that was the question that put me into doubts about its correctness and i decided to do my research to find out if it was indeed the correct one. Eventually, I found the correct answer in the article "1inch introduces Chi Gastoken" of the official 1inch Medium blog, it says:
The name of our project, 1inch, was inspired by Bruce Lee’s legendary “1inch punch”, an epitome of efficiency in Martial Arts, and aims to symbolize our efficiency in the crypto industry.
To execute a 1inch punch, you need power, in Asian Martial Arts it is called as Chi / Qi, whose equivalent in the crypto space is our new Chi Gastoken. Now, any user can burn their Chi tokens and thereby save on gas.
Question 3: A prototype of the 1inch DEX aggregator was created in just 18 hours during:
The co-founders' ride on the Transsiberian Railway
Filming of an episode of the "Cryptomaniacs" Youtube series
ETHGlobal hackathon in New York
The COVID-19 lockdown
My Answer: ETHGlobal hackathon in New York
My justification: Although in the CoinmarketCap 1INCH web page there is a mention about the ETHGlobal hackathon in New York, the correct justification can be found at Sergeij Kunz article in CoinmarketCap What Are DEX Aggregators? A Deep Dive by 1inch0 where Kunz describes
The birth of the 1inch MVP illustrates the need for DEX aggregators. Anton Bukov and I created the 1inch MVP in 18 hours at the ETHNewYork hackathon in 2019. They did so simply because they needed it for their own personal use.
Question 4: Surgei Kunz, 1Inch co-founder and CEO, used to be responsible for software developement at:
Porsche
Apple
Booking.com
P0rnhub
My Answer: Porsche
My justification: Although the CoinmarketCap 1INCH web page actually mentions that Kunz's has worked in Porsche in DevOps & Cybersecurity and not in software development like he did in product price aggregator Commerce Connector, no other answer is relevant to him.
Prior to 1inch, Kunz worked as a senior developer at product price aggregator Commerce Connector, coded at communication agency Herzog, led projects at Mimacom consultancy, and then worked full time at Porsche in both DevOps and cybersecurity.
Question 5: Currently, 1inch supports most of the well-known protocols, precisely
22
28
42
32
My Answer: 42
My justification: That was a tricky one. The 1Inch Medium article dated 5, November 2020, Introducing 1inch v2 — DeFi’s fastest and most advanced aggregation protocol
counts 21 as follows:
1inch v2 supports all major protocols:
Uniswap V1, Uniswap V2, WETH, Balancer, Curve, Chai, Sushiswap, Kyber, Oasis, Mooniswap, Compound, Aave, Yearn, Bancor, PMM, C.R.E.A.M. Swap, Swerve, BlackholeSwap, Value Liquid, DODO, Shell.
We are working on adding more private market makers soon.
Also in Sergeij Kunz article in CoinmarketCap dated at 24, November 2020 What Are DEX Aggregators? A Deep Dive by 1inch, he claims that the supported liquidity protocols are still 21!
DEX aggregator 1inch has recently released version 2 of its protocol, whose main component is Pathfinder, an API containing a new discovery and routing algorithm.
Pathfinder can split swaps across 21 supported liquidity protocols and, if necessary, it can also use different “market depths” within the same protocol.
However, in the 1Inch webpage, after opening the "Advanced settings" tab the user will find that the current number of the liquidity sources are 43 according to the following screenshot
Question 6: Which of these characters invited 1Inch to the "Three Comma Club" for hitting 1,000,000,000 USD in Volumes for the first time?
Richard Hendricks
Russ Hanemman
Bertram Gilfoyle
Erlich Bachman
My Answer: Russ Hanemman
My justification: Who is Russ Hanemman, who is Richard Hendricks, and what is the "Three Comma club"? If you live in USA and you have watched the Silicon Valley TV Series in HBO then possibly you are well aware of them and probably you know the answer without any research. Yet, it took me ONE HOUR to understand that Russ Hanemman is actually a character from the TV Series and NOT a REAL entrepreneur that launched the "Tres Comas Tequila". Eventually, I found in the article 1INCH token and liquidity mining of the official 1Inch Medium Blog, that he is the one who invited 1Inch to the "Three Comma Club"
At the end of July, 1inch reached $1B in total trading volume. Russ Hanneman, a character from HBO’s beloved Silicon Valley series, ordained the team’s entry to “Tres commas club” with a spicy congrats video. Whereas Russ Hanneman´s character “put radio on the Internet” — 1inch put DeFi on the moon.
Diageo actually launched Tres Commas Tequila for real back in 2019
Question 7: Recently 1inch unveiled a major upgrade of its functionality that was based on an improved algorithm named?
Cerebro
StarTrek
Mooniswap
Pathfinder
My Answer: Pathfinder
My justification: Easily in Sergeij Kunz article in CoinmarketCap What Are DEX Aggregators? A Deep Dive by 1inch0 it is read that
DEX aggregator 1inch has recently released version 2 of its protocol, whose main component is Pathfinder, an API containing a new discovery and routing algorithm.
Pathfinder can split swaps across 21 supported liquidity protocols and, if necessary, it can also use different “market depths” within the same protocol.
and in 1inch official Medium Article Introducing 1inch v2 — DeFi’s fastest and most advanced aggregation protocol
We are thrilled to unveil 1inch’s version 2. The main highlights are Pathfinder, an API that contains a new discovery and routing algorithm, and an intuitive, user-friendly UI. The improvements ensure the best rates on swaps, while dramatically cutting response time.
Mooniswap is actually 1Inch's Automated Market Maker
Question 8: A unicorn is 1inch's totem animal, and the first mention of those mythical creatures dates back to:
Ancient Greece
Ancient India
Akkadian Empire
Ancient China
My Answer: Ancient Greece
My justification: Although my origin is Greek with a good understanding of Ancient Greek Mythology, i had strong doubts whether a Unicorn was a mythic creature of the Greek Mythology just like the flying horse of Bellerophon, Pegasus or the Centaurs. I searched first in 1Inch Official Medium blog and website but I didn't find any information there. Then i went to Wikipedia and the answer it gave me has put me into the trouble i was looking for:
The unicorn is a legendary creature that has been described since antiquity as a beast with a single large, pointed, spiraling horn projecting from its forehead. The unicorn was depicted in ancient seals of the Indus Valley Civilization and was mentioned by the ancient Greeks in accounts of natural history by various writers, including Ctesias, Strabo, Pliny the Younger, Aelian[2] and Cosmas Indicopleustes.[3] The Bible also describes an animal, the re'em, which some versions translate as unicorn.[2]
So the correct answers appeared either the Ancient India or Ancient Greece. Therefore, I searched in online Britannica encyclopedia looking for a more reliable answer.
Unicorn, mythological animal resembling a horse or a goat with a single horn on its forehead. The unicorn appeared in early Mesopotamian artworks, and it also was referred to in the ancient myths of India and China. The earliest description in Greek literature of a single-horned (Greek monokerōs, Latin unicornis) animal was by the historian Ctesias (c. 400 BCE), who related that the Indian wild ass was the size of a horse, with a white body, purple head, and blue eyes, and on its forehead was a cubit-long horn coloured red at the pointed tip, black in the middle, and white at the base. Those who drank from its horn were thought to be protected from stomach trouble, epilepsy, and poison. It was very fleet of foot and difficult to capture. The actual animal behind Ctesias’s description was probably the Indian rhinoceros.
Britannica actually put Ancient China back in the game. However, it appears that Ancient Greek Ctesias of the pre-Hellenistic years, who isn't such a famous historian like Herodotus, provided the earliest description of Unicorn in Ancient Greek literature. I wanted to search it further but the extended information on Britanicca for the not so famous Ctesias, and his description about the Unicorn, persuaded me to risk and give "Ancient Greek " as an answer. For sure, Ctesias learned about Unicorn in Ancient Indian myths!
Although the blog posts that flooded the web with the correct answers of the CoinmarketCap's 1Inch Learn and Earn campaign were indeed correct, I believe that the knowledge that I have put after doing all this investigation possibly it is more valuable than the 3 1Inch that the CoinmarketCap's 1Inch Learn and Earn campaign rewards the users after providing the correct answers in the quiz. After all, it is always better to do your own research and question what is provided to you so easily instead of just reproducing everything you read on the web.
Disclaimer: All information found on this article is for informational purposes only. I do not provide any personal investment advice so please make your own research before proceeding to any investment/trading actions
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