# Ice Network KYC Step 3 Quiz Answers

By [CryptoSamka](https://paragraph.com/@cryptosamka) · 2024-01-29

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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.

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*Originally published on [CryptoSamka](https://paragraph.com/@cryptosamka/ice-network-kyc-step-3-quiz-answers)*