BakerySwap (BAKE)
BakerySwap, founded in 2020, is a decentralized protocol offering a decentralized exchange (DEX) and automated market-making (AMM) on the Binance Smart Chain. The platform's native token is BAKE, with a total supply of 144,606,918. BAKE tokens allow users to earn a share of trading fees and participate in governance through voting.
Overview of BakerySwap
BakerySwap is inspired by Uniswap, a well-known DeFi (Decentralized Finance) network, but it offers a more cost-effective and faster alternative. It was developed by an anonymous team committed to decentralized autonomous organizations (DAOs), allowing full community involvement in decision-making. Utilizing the Binance Smart Chain (BSC) due to its low gas fees and high scalability, BakerySwap achieves higher transaction speeds while maintaining low costs. The platform supports tokens that comply with BSC’s BEP20 and BEP2 standards, providing benefits such as arbitrage functionalities for tokens on both Binance DEX and Binance.com.
| Ticker | BAKE |
| Category | NFT |
| Website | https://www.bakeryswap.org |
| @bakery_swap | |
| Telegram | bakeryswap |
| Contract Addresses | |
|---|---|
| binance-smart-chain | 0xe0...c5 Copied! |
| harmony-shard-0 | 0x4d...2aCopied! |
BakerySwap's native currency (BAKE)
BAKE tokens fuel the BakerySwap ecosystem, enabling community voting and governance. Trades on the AMM DEX incur a 0.30 percent fee, with 0.25 percent going to liquidity providers and the remainder converted into BAKE for rewards. The Bakery protocol uses multipliers (1X, 3X, 10X) to determine pool rewards, based on the value provided to BAKE holders. BAKE has no pre-mine or pre-sale, and no special allocation to the development team, though they receive one percent of all BAKE farmed. BAKE tokens are distributed through liquidity pools, categorized into those with or without BAKE rewards.
BAKE and NFTs
BakerySwap integrates Non-Fungible Tokens (NFTs) with its ecosystem, pioneering the combination of AMM and NFT on BSC. BAKE holders can create "combo meals," which are collectible NFTs that can be used to farm BAKE coins. These meals have staking power, allowing for increased BAKE earnings when staked. Meals can be traded or dismantled back to BAKE, returning 90 percent of the BAKE used in their creation. Combo meals exist in four levels: primary, regular, luxury, and supreme, determined by the BAKE tokens used. BakerySwap plans to introduce these combos to the market through its "NFT Supermarket" platform.
BakerySwap launchpad
BakerySwap's launchpad supports unique upcoming projects, with Battle Pets being the first. Investments can be made using BUSD, BAKE, or BNB, with different options like kittens, puppies, or bunnies available for investors.
How to farm BAKE
Assets from liquidity providers are converted into Bakery's liquidity pool tokens, which can be staked to farm BAKE. These tokens represent a provider's pool share and entitle them to a portion of the fees charged.
How to bake
To participate, users must access the BakerySwap website and connect to BSC using MetaMask. After configuring MetaMask for Binance Smart Chain, they must obtain BNB and deposit it into their MetaMask wallet. Users can then swap tokens or provide liquidity, receiving Bakery liquidity pool tokens (BLP).
How to stake BLP to receive BAKE
Staking BLP is done via the "Earn BAKE" option, with various staking choices. Each option supports different tokens, allowing users to approve and stake their BLP for BAKE rewards.