In the world of cryptocurrency exchange, there lies a food-based blockchain programme where investors invest and dispense liquidity to gain tokens. This scheme follows a considerably uncomplicated or simple theme and bestows numerous unique services.
What is BakerySwap?
As a Unique Decentralised Exchange (DEX) and formed on the Binance Smart Chain (BNC), BakerySwap is governed by the Automated Market Maker (AMM) model. This one-stop DeFi platform has graciously sustained its quick transaction speeds and substantially reduced the fees associated with gas.
How was BakerySwap formed?
Founded in 2020, BakerySwap showcased a whole new perspective on the crypto aspect. It was designed by a network of anonymous developers who predict a vision of success in the decentralised autonomous organisation model.
Being against the token pre-sales, initial coin offerings and others for the dev team, BakerySwap also relishes the advantage of being anonymous. This is one of the reasons why the team doesn’t hold a stake in the total supply of BAKE tokens.
Based on the notion that the BakerySwap team gains 1% of all BAKE coins that are produced inside the BAKE farming feature, the dev team for every one hundred BAKE tokens generated gets only one BAKE token.
How does BakerySwap work?
To construct AMM DEX, BakerySwap is considered one of the first DeFi projects. The food-based blockchain scheme operates to form liquidity pools to make immaculate transactions on the Decentralised Finance (DeFi) platform and in exchange for issuing liquidities, the investors or users are gifted BAKE coin or token. Not only this, but these investors also get a portion of the trading fees, which can be utilised for participating in the voting process regarding the integral aspects of the BakerySwap.
BakerySwap is the initial AMM which provides liquidity pools inclusive of altcoins, enveloping the integral user base and market shares.
Why is BakerySwap an ideal choice for investment?
The future of BakerySwap can be promising due to its certain characteristics such as:
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Combo pools
To lock up BAKE tokens, NFT Combos are used. These NFT Combos give staking power to the users if they keep retaining the BAKE coins.
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Launchpad
BakerySwap Launchpad issues Initial Dex Offerings (IDOs) a decentralised crowdfunding platform which doesn’t need any authorisations).
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Bakery Gallery
BakerySwap created an NFT programme for displaying the art of the famous upcoming artists known as Bakery Gallery.
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NFT Marketplace
Having its NFT marketplace, the BakerySwap blockchain technology possesses one of the most popular marketplaces in the crypto world. The process to publish your artistic creations here is quite straightforward. For this, you have to provide the information of your art such as name, social media link, and format. After this step, you can link your electronic wallet for payment.
How to buy a BAKE token?
BAKE token as the native token of the food-based blockchain scheme BakerySwap, can only be bought when the investor supplies liquidity to one of the several pools and then stakes the share of their liquidity pool tokens. Furthermore, as they are available on the open market, instead of doing the above step, one can directly purchase BAKE tokens from it.
With its distinctive features and concept, BakerySwap has constructed an overall decentralised exchange platform and also offers a myriad of ways to obtain money through NFTs, liquidity pools and so on. For instance, by producing notable NFT Combos or exchanging BEP-20 tokens, a user has numerous options for earning income through the BakerySwap platform.
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