BakerySwap

What is BakerySwap?

BakerySwap operates as a decentralized automated market-making (AMM) protocol built on the Binance Smart Chain (BSC). The platform features the BAKE token, a native BEP-20 governance token.

Users can accumulate BAKE tokens by supplying liquidity on BakerySwap. Holders of BAKE have the option to employ their tokens for participating in governance votes and obtaining dividends from transaction fees. BAKE rewards are available across various liquidity pools, initially comprising pairs such as BTC, ETH, DOT, LINK, BUSD, and BAKE against BNB.

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Recent Video Interview

Main points of the interview:

• Bakery Swap is a leading DeFi platform on Binance Smart Chain, emphasizing AMM, NFT marketplace, gamification, and launchpad services.
• Difficulty in constant innovation and market recognition; navigating market volatility.
• Developing a metaverse integrating NFTs, VR exhibitions, and gamification to strengthen the Bakery Swap ecosystem.
• Collaborating with projects like Crypto Doggies to enhance ecosystem dynamics and increase transaction volumes.

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What Makes BakerySwap Unique?

BakerySwap stands out by aspiring to be an All-in-one Station catering to both DeFi and NFT enthusiasts. The platform boasts a plethora of features:

• Trade: Engage in trading activities and generate LP tokens to contribute liquidity.
• Earning: Provide liquidity to the AMM DEX, receiving rewards in return.
• NFT Marketplace: A dedicated space for trading and selling NFT products created by artists.
• Bakery Gallery: An integration of NFT Issuer & NFT Marketplace within BakerySwap.
• Launchpad: An IDO Platform designed for launching new projects.
• Gamification (Game Boxes): A unique NFT game project that combines elements from Alien Worlds, My Neighbor Alice, and Battle Pets, designed for SOCCER & POKER holders.
• ETH 2.0: A program for ETH staking aimed at promoting the launch of ETH 2.0 (PoS).

BAKE Token

The BAKE token serves a multifaceted role on BakerySwap, offering users several benefits. It enables active participation in proposing and voting on system changes. Additionally, BAKE facilitates the trading of Non-Fungible Tokens (NFTs) and provides opportunities for staking and farming, allowing users to earn rewards. The token seamlessly integrates with features like Gamification and Launchpad.

Notably, the BAKE-BNB pool stands out by offering rewards ten times greater than other pools. BakerySwap's approach of having designated pools with BAKE rewards and a reward multiplier based on contribution provides added value to BAKE holders. Moreover, users benefit from a portion of fees collected from swaps and trades, and liquidity providers can stake Bakery LP tokens to farm BAKE token rewards, creating a comprehensive and rewarding ecosystem around the BAKE token.

BakerySwap Team Background and Investors

The founder and developers behind BakerySwap remains anonymous.

BakerySwap stands as a pioneering project, being among the initial three endeavors to secure funding from Binance Smart Chain (BSC). This funding, totaling up to 100 million USD, encompasses various forms of support, including 10 million USD in liquidity backing. Additionally, BakerySwap benefits from smart contract audit support through its partnership with CertiK, a renowned audit unit in the blockchain and cryptocurrency space. This strategic collaboration ensures a thorough examination of smart contracts, enhancing the platform's security and reliability within the broader blockchain ecosystem.

BakerySwap Project Development

BakerySwap introduces its inaugural Free Launchpad Project, featuring OpenSky ($OSKY). The Free Launchpad initiative allows users to engage in project participation without any upfront cost. While the process mirrors traditional launchpad projects, involving tokens like $BAKE and $1CAT, participants receive a full 100% refund of these tokens post-participation. Qualified participants stand to obtain project tokens based on their contribution and whitelist status.

OpenSky Finance, the highlighted project, represents the pioneering hybrid NFT lending and borrowing protocol fueled by Aave. This innovative platform facilitates both peer-to-pool instant loans and peer-to-peer bespoke loans, allowing borrowers to seamlessly transition between these two loan types within a single transaction. The introduction of OpenSky Finance marks a significant step in advancing decentralized finance solutions within the BakerySwap ecosystem.

BakerySwap Price Analysis

As of November 24 2024 BakerySwap has a marketcap of $83M. This is {{percentagefromath}} from its all time high of $8.38. In terms of its tokenomics, there's a total supply of 290M with 100% currently outstanding. Keep in mind BakerySwap has a fully diluted value of $83M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.