Day 8
55 min

1 task
Agenda
1. Vedai
2. Challenge value
3. Challenges
4. Vocabulary of the day
Task 1
Find more about the project at CIL Notion:

CIL Home → Projects → Vedai
Vedai
Our work is a challenge and without challenging conventional ideas we won't achieve our aims. This means we challenge each other and we don't avoid conflict. We call out if we see that there is something wrong. The key is diplomacy; we try to deliver feedback and critics in the most optimal way, both diplomatic and straightforward.
Value of the day:
challenge
Сhallenges
Read about the latest challenges which took place in the company.

Stay up to date and participate in the forthcoming ones.
Vocabulary of the day
What happens when the price of assets drops significantly below?

— All further trades are stopped
— Traders are getting rewards
— The Liquidation Manager starts the auction to compensate for the losses
      Which protocols have their own tokens?

      — Layer-1
      — DEX
      — Layer-2
            What is used to ensure cross-chain interoperability within the DEIP network?

            — Dynamic Liquidity Protocol
            — DAO
            — Relay Chain
                  When you borrow, you lock in collateral (there is the price estimate for collateral); secondary market transactions affect the price of assets for this collateral (they can change): when the price drops below a certain threshold, the LM places the collateral up for auction to compensate for the losses (in portions). If the portion sold is enough to cover collateral, then the sale stops.

                  What happens when the price of assets drops significantly below?

                  — All further trades are stopped
                  — Traders are getting rewards
                  — The Liquidation Manager starts the auction to compensate for the losses
                    It's a security layer that anchors data transactions in a way that's immutable and cryptographically secured without a central authority. It's another name for a base blockchain. BNB Smart Chain (BNB), Bitcoin (BTC), Ethereum (ETH), and Solana are all layer 1 protocols. As a rule, such protocols have their native token that is used to pay for transaction fees.

                    Which protocols have their own tokens?


                    — Layer-1
                    — DEX
                    — Layer-2
                    Liquidation Manager
                    Layer 1
                    It's an interoperability chain, through which DEIP Chain is communicating to other blockchains connected to a specific Relay Chain. It's the heart of the network that ensures its security, consensus and cross-chain interoperability.

                    What is used to ensure cross-chain interoperability within the DEIP network?

                    — Dynamic Liquidity Protocol
                    — DAO
                    — Relay Chain
                    Relay Chain
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