Bakery Swap is a product of DeFi on Binance Smart Chain with different services in today’s electronic market. DeFi protocols have undergone significant development over the years. Many of the newcomers want to try running newer blockchains.

BakerySwap’s various products have made it popular among those who are looking for a completely decentralized financial service for investing or trading.

What is BakerySwap?

BakerySwap is an NFT decentralized financial exchange built on top of the AMM (automatic market maker) model on the Binance Smart Chain (BSC) platform. This protocol constantly strives to create an easy-to-use platform by combining popular features like decentralized finance (DeFi) and non-fungible tokens (NFT).

Similar to other AMM protocols (without a buy and sell order book), investors will trade with liquidity pools to receive the exchange’s BAKE tokens. The more liquidity the pool provides, the more tokens users will receive from the project.

BakerySwap Highlights

Fairly distribute all BAKE tokens (neither pre-sold nor pre-mined).
The BakerySwap team only gets 1% of the total BAKE tokens invested (meaning for every 100 BAKE tokens, the Bakery team will receive 1 investment token).
The BAKE-BNB group has a reward index 10 times higher than the rest of the groups.
Binance Smart Chain is the first liquidity platform in the supply of altcoins (LPs) such as LINK, DOT, etc.
AMM DEX on BSC is one of the exchanges that build AMM DEX.
Take full advantage of the Binance community by creating arbitrage opportunities between BEP2 and BEP20 tokens hosted on Binance.

How does BakerySwap work?

BakerySwap is a decentralized automated market maker (AMM) protocol on the Binance Smart Chain, with the standout feature of NFT Marketplace, allowing users to create images, GIFs, videos, and audio in NFT format. BakerySwap is inspired by UniSwap. So, BakerySwap works relatively like Uniswap but is cheaper and faster.

What is a BAKE token?

The native token in the BakerySwap protocol is BAKE. It is the BEP-20 token that has many use cases on the platform. The BEP-20 protocol is the native protocol of the BSC blockchain, similar to WRC-20 on Ethereum. BAKE was originally the management token of the BakerySwap protocol.

BAKE holders can participate in the platform’s governing votes for a variety of reasons, from changing transaction fees to upgrading and even design changes. BAKE holders also receive shares from trading fees.

The transaction fee on this DEX is 0.3%, of which 0.25% will go to the liquidity providers. BAKE holders get the remaining 0.05 of each transaction in BAKE tokens.

BAKE monetization needs to provide liquidity to one of the supported groups on BakerySwap. However, it can be purchased on exchanges like Binance. In any case, the swap allows BAKE tokens to be offered to liquidity providers in pools such as BUSD, ETH, BTC, DOT, LINK, and BAKE against BNB. But supported pools are always added to the DEX.

What is Bake Coin used for?

It can be said that Bake coin has very high applicability. Owning Bake coin will help you participate in many activities, such as:

Use BAKE to buy NFT
Use BAKE to participate in proposals, vote on system changes and receive dividends on transaction fees.
Use BAKE to perform staking and farming to receive rewards.
Join features like Gamification and Launchpad.

Pros and Cons

Pros

BAKE does not have a pre-sale program, does not distribute tokens in advance to any units, and does not reserve tokens for the team.
The liquidity of BAKE token is very high; it is currently listed on many major exchanges such as Binance, Gate, PancakeSwap,…
Binance Smart Chain is a major sponsor of the project, with a total funding value of up to 100 million USD.
The BakerySwap development team is constantly tweaking tokenomics and updating products to best benefit users. Specifically, BakerSwap announced the introduction of Farming 2.0 and NFT Makertplace 2.0. BakerySwap accepts a community proposal to burn more than 75% of the newly issued BAKE tokens.

Cons

The anonymous development team is a weakness that makes many investors wonder about the sustainable development of the project.
The project does not publish the white paper (Whitepaper).

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