One of the first editions of Binance Academy’s Learn and Earn program was dedicated to the MANTRA blockchain. In this article, we'll take a look at its ecosystem, and reveal the Binance OM quiz answers.
Binance Learn and Earn Mantra (OM) Edition
Through its Learn and Earn program, Binance gives its members the chance to learn while earning incentives. The educational content is still accessible at Binance Academy, even though the quizzes have time limits and the rewards are subject to different conditions.
In this article, we offer you a chance to self-evaluate by giving you the opportunity to complete the Binance OM quiz. However, before we get started, let's review the Mantra blockchain.
What Is Mantra (OM)?
MANTRA is a blockchain ecosystem committed to transparency, innovation and user-centric experiences. Founded in 2020 under the name MANTRA DAO, this ecosystem has undergone a profound transformation, driven by the overall goal of simplifying, securing and personalizing the world of cryptocurrencies for everyone.
One of the key points of this transformation lies in the concept of OMniverse. This comprehensive ecosystem is built around four key pillars: MANTRA Nodes, MANTRA Chain, MANTRA Finance, and MANTRA DAO. Together, they form a tapestry of innovative products and services that meet a wide range of user needs. The key to the OMniverse is the OM token, which serves as the native currency of the ecosystem. It offers governance capabilities, betting opportunities, and access to exclusive rewards.
What Does Mantra Consist Of?
Let's take a look at what Mantra ecosystems consist of:
MANTRA Nodes
MANTRA Nodes serve as the foundation of the OMniverse. These nodes generate revenue and boost the Sherpa community's holdings by creating opportunities to yield earnings across multiple blockchains. In addition, they support Mantra in expanding its presence on emerging blockchain networks, fostering growth in the institutional space, and nurturing a multichain DeFi ecosystem.
MANTRA Chain
MANTRA Chain is Mantra's protocol for the Cosmos ecosystem. With interoperability with other Cosmos blockchains through the IBC module, developer tools, and an EVM-compatible environment, it offers a broad spectrum of possibilities, from gaming to decentralized exchanges. Its decentralized identity (DID) module enhances security and transparency.
MANTRA Finance
Mantra Finance aims to bridge the gap between DeFi and traditional finance (TradFi), offering a noncustodial and permissionless platform for trading, issuing, and earning from digital assets. It brings the speed and transparency of DeFi to the established but often opaque world of TradFi.
MANTRA DAO
Transparency and community involvement have been central to Mantra's philosophy. MANTRA DAO strives to extend these principles to other projects and their protocols. This stack offers a range of DAO services, including treasury management, DAO issuance, governance and grants, and staking.
The OM Token's Role in the Mantra Ecosystem
The native token of the OMniverse, OM, plays a crucial role in Mantra's ecosystem:
- Governance: OM holders have the power to propose, vote on governance issues, and suggest developments across the OMniverse.
- Staking: OM can be staked on Mantra's platform or Binance, allowing users to earn passive yields.
- DAO Token Access/Airdrop Incentives: OM stakers gain access to new DAO token issuances and partnering DAO token airdrops.
How to Buy OM on Binance?
If you're looking to acquire OM token, it is possible on the Binance cryptocurrency exchange:
- Log in to your Binance account and navigate to “Trade,” then click on “Spot.”
- Type "OM" in the search bar to find the OM/USDT trading pair.
- Enter the amount of OM you wish to purchase, choose your order type, and confirm the transaction. Your purchased OM will be credited to your Spot Wallet.
How to Stake OM on Binance Earn?
Staking OM on Binance is equally simple:
- Access your Binance account and navigate to the “Earn” tab.
- Type "OM" in the search bar to view the available staking periods (30, 60, or 90 days).
- Choose your staking period, enter the amount of OM you want to stake, and confirm your staking request.
Binance OM Quiz Answers
Let's examine the OM Binance Academy Quiz questions and answers.
1. NFTs, Metaverse, and gaming can all be built on which one of MANTRA’s stacks?
A. Mantra Nodes
B. Mantra Chain
C. Mantra Finance
D. Mantra DAO
B. Mantra Chain
C. Mantra Finance
D. Mantra DAO
2. MANTRA Chain is compatible with which of these blockchains? Select all that apply.
A. Solana
B. IBC
C. EVM
D. Avalanche
B. IBC
C. EVM
D. Avalanche
3. Does MANTRA Finance provide initial coin offerings?
A. No
B. Yes
B. Yes
4. What is HeliSwap?
A. Metaverse
B. Web3 game
C. Decentralized exchange
D. NFT marketplace
B. Web3 game
C. Decentralized exchange
D. NFT marketplace
5. What is MANTRA’s Governance Token?
A. $MNTR
B. $MDAO
C. $OMNI
D. $OM
B. $MDAO
C. $OMNI
D. $OM
6. Where in the OMniverse can you find retail staking?
A. Mantra Chain
B. Mantra DAO
C. Mantra Finance
D. Mantra Nodes
B. Mantra DAO
C. Mantra Finance
D. Mantra Nodes
7. MANTRA Nodes offers which of the following?
A. Infrastructure as a service
B. Retail stalking
C. Node management
D. All are correct
B. Retail stalking
C. Node management
D. All are correct
8. What year was MANTRA founded?
A. 2020
B. 2018
C. 2019
D. 2021
B. 2018
C. 2019
D. 2021
Correct Binance OM quiz answers
1) B; 2) B and C; 3) B; 4) C; 5) D; 6) D; 7) D; 8) A.
Please note that Binance OM quiz answers are provided for informational purposes only. Some questions may vary depending on your region.
Binance OM Quiz Answers – Conclusion
We trust this article has improved your understanding of the MANTRA ecosystem. If you would like to explore more Binance Learn and Earn quizzes, please take a look at our articles covering Binance BSW quiz answers and Binance KNC quiz answers.
Keep in mind that learning is an ongoing journey with abundant opportunities for expansion. We suggest you stay tuned to the CScalp blog updates to ensure you take advantage of future opportunities.
