Exercise 4: Smart Contracts and Standards Assessment
⏰ Time Investment: 30-45 minutes 🎯 Goal: Understand smart contracts and token standards
📚 Required Reading Integration 📖 Primary: Lesson 4: Smart Contracts and Token Standards
🔍 Phase 1: Knowledge Check (15 minutes)
1. What is the vending machine analogy for smart contracts?
Your answer: _________________________________
2. What is the EVM?
Your answer: _________________________________
3. What is the difference between ERC-20 and ERC-721?
Your answer: _________________________________
4. What is composability?
Your answer: _________________________________
5. Why do transactions cost gas?
Your answer: _________________________________
📊 Phase 2: Use Case Analysis (15 minutes)
Identify which token standard (ERC-20 or ERC-721) would be used for:
Stablecoins
Governance tokens
Uniswap V3 LP positions
Art NFTs
DeFi protocol tokens
💡 Phase 3: Composability Exercise (15 minutes)
Design a DeFi workflow using composability:
Start with USDC
Show how it can flow through multiple protocols
Explain the benefits of composability
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