Ice Network KYC Step 3 Quiz Answers (12 questions)

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Question: What is one of the main advantages of Ice being an open-source project?

Answer: It promotes transparency and allow anyone to review the project’s code.

Question: What is the role of validators in the Ice network’s governance and operation?

Answer: Validators are tasked with maintaining the network’s security and availability.

Question: What type of bonus you receive for friends referred by you (Tier 1) and those referred by your friends (Tier 2) in the Ice project?

Answer: 25% for Tier 1 and 5% for Tier 2.

Question: What factors determine the total supply of Ice coins?

Answer: Multiple factors, including total registered users, online miners, halving events, and bonuses.

Question: How does the Ice project aim to demonstrate the value and reliability of its digital coin to gain wider acceptance?

Answer: By building trust with owners and users.

Question: How often will the BNB Smart Chain distribution occur in the Ice network?

Answer: Monthly.

Question: What is the bonus you and your Tier 1 friends receive when mining together?

Answer: 25% bonus.

Question: What blockchain technology does the Ice project use for its consensus mechanism known for its speed, security, and scalability?

Answer: Proof-of-Stake (POS).

Question: How can users earn Ice in the Ice network?

Answer: By checking in every 24 hours.

Question: What does the term “halving” refer to in the cryptocurrency industry?

Answer: The process of reducing the issuance rate of new coins.

Question: On what network will the Ice distribution take place?

Answer: BNB Smart Chain.

Question: What is the staking concept similar to?

Answer: Depositing money in the bank.

Question: What is the primary goal of the Ice Network?

Answer: To build a decentralized ecosystem.

Question: How can a user restore lost coins due to inactivity in the Ice project?

Answer: By initializing a new check-in session and choosing the resurrection option.

Question: How many times can you benefit from the resurrection option in the Ice project?

Answer: Once.

Question: What makes Ice unique in the context of crypto mining?

Answer: It allows users to mine without using their phone’s resources, data, or battery.

Question: During Phase 1 of the Ice project, how much can users increase their mining rate through pre-staking?

Answer: Up to 250%.

Question: What happens to the coins of users who become inactive in the Ice project?

Answer: They are gradually lost in the progressive slashing.

Question: When are users notified about the availability of extra bonuses in the Ice project?

Answer: Between 10:00 and 02:00.

Question: How is the Pre-Stake bonus in the Ice project rewarded to users?

Answer: By increasing their mining speed.

Question: Does mining in the Ice network require keeping the app open all the time?

Answer: No, mining doesn’t consume any phone resources.

Question: How does the Ice project encourage trust and social connections among its users?

Answer: By offering bonuses based on referrals and network activity.

Question: What information can you find on the team screen in the Ice project app?

Answer: The current check-in activity of your referrals.

Question: What distinguishes the Ice network from other mining methods?

Answer: It rewards those who actively build micro-communities.

Below are the full 23 questions and its answers:

1. Question: On what network will the ice distribution take place?

Answer: BNB Smart chain

2. Question: How can users earn ice on the ice network?

Answer: By checking in every 24hrs

3. Question: What is the staking concept similar to?

Answer: Depositing money in the bank

4. Question: What block chain technology does the ice project use for it’s concensus mechanism known for it’s speed, security and scalability?

Answer: Proof of stake (POS)

5. Question: What is the primary goal of the ice network?

Answer: To build a decentralized ecosystem

6. Question: What is the role of validators in the ice network governance and operation?

Answer: Validators are tasked with maintaining the networks security and availability.

7. Question: What is the main advantage of ice being an open source project?

Answer: it promotes transparency and allow everyone to review the project code.

8. Question: How can a user restore lost coin due to inactivity in the ice project?

Answer: By initiating a new check in session and choosing the resurrection option

9. Question: How many times can you benefit from the resurrection option in the ice project?

Answer: once

10. Question: What make ice unique in the concept of crypto mining?

Answer: it allows users to mine without using their phones resources, data and battery

11. Question: During phase 1 of the ice project, how much can users increase their mining rate through pre-staking?

Answer: 250%

12. Question: What happens to the coins of users who become inactive in the ice project?

Answer: They are gradually lost through progressive slashing

13. Question: When are users notified about the availability of extra bonuses in the ice project?

Answer: Between 10:00 -20:00

14. Question: How is the pre stake bonus in the ice project rewarded to users?

Answer: By increasing their mining rate

15. Question: Does mining in the ice network requires keeping the app open all the time?

Answer: No mining doesn’t consume any phone resources

16. Question: How does ice project aim to demonstrate the value and reliability of its digital coin to gain wilder acceptance

Answer: By binding trust with owners and users

17. Question: How does the ice project encourage trust and social connection among its users?

Answer: By offering bonuses based on referrals and network activity

18. Question: What information can you find on the team screen in the ice project app?

Answer: The current check-in activity of your referrals

19. Question: What distinguishes the ice network from other mining method?

Answer: It reward those who actively build micro communities

20. Question: What happens after you use all the accumulated days off in the ice project?

Answer: You automatically enter the slashing mode

21. Question: What factor determines the total supply of ice coins?

Answer: Multiple factors including total registered users, online miners, halving events, and bonuses

22. Question: How long is the staking period for users who close to pre stake their ice in preparation for the main net releases?

Answer: Up to 5 years

23. Question: How often will BNB smart chain distribution occur in the ice network?

Answer: Monthly

Ice Network KYC Step 3 Quiz Answers