Ice Network KYC Step 3 Quiz Answers

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Ice Network KYC Step 3 Quiz Answers

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.

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