Blockchain Developer Token Standards and NFTs 5

Question 1

What does the ERC-4626 standard define?

Accepted Answer

A tokenized vault standard for yield-bearing tokens

Answer

NFT royalties

Answer

Gasless approvals

Answer

Multi-token batching

Question 2

In ERC-4626, what does the convertToShares function estimate?

Accepted Answer

How many vault shares a given amount of underlying assets is worth

Answer

Gas cost

Answer

The royalty fee

Answer

The token's decimals

Question 3

What is a 'soulbound' token?

Accepted Answer

A non-transferable token bound to a single address

Answer

A token with high gas fees

Answer

A fungible stablecoin

Answer

A token without metadata

Question 4

What does ERC-4907 add to the ERC-721 NFT standard?

Accepted Answer

A rental role with a user and expiry separate from the owner

Answer

Batch minting

Answer

Royalty enforcement

Answer

Gasless permit

Question 5

Why is wrapping (e.g., WETH) used in token ecosystems?

Accepted Answer

To make native ETH conform to the ERC-20 interface

Answer

To burn ETH

Answer

To add royalties

Answer

To reduce supply

Question 6

What distinguishes a semi-fungible token, well-suited to ERC-1155?

Accepted Answer

It is fungible until an event, then becomes non-fungible (e.g., a redeemable ticket)

Answer

It is always unique

Answer

It has no supply

Answer

It cannot be transferred

Question 7

What does the ERC-20 totalSupply function return?

Accepted Answer

The total amount of tokens in existence

Answer

The number of holders

Answer

The contract balance in ETH

Answer

The number of decimals