BakeryToken Price

BakerySwap, a Uniswap clone running on the Binance Smart Chain (BSC), offers AMM services (orderbook-less Automated Market Maker) and NFT trading. With lower fees and faster confirmation times compared to the Ethereum blockchain, BakerySwap has gained popularity.

It is one of the first projects to leverage BSC for its AMM DEX platform. Additionally, BakerySwap is one of the few DeFi projects on the BNB Chain that offers altcoin liquidity pools.

BakerySwap is a fork of SushiSwap and PancakeSwap, and its tokenomics are similar to those of these platforms, heavily incentivizing liquidity providers to attract users to the platform. The platform charges a 0.3% liquidity fee per transaction, which is paid to the liquidity provider as a protocol incentive. These fees are subject to change by community governance.

BakeryToken (BAKE) is the native token of the BakerySwap DEX, and is used for trading fees and other services on the platform, and can be obtained as a reward for staking in BEP-20 liquidity pools or purchasing it. BAKE holders can participate in platform governance by voting on proposals for upgrades and changes, as well as earn rewards for providing liquidity to the platform.

BakeryToken (BAKE) runs on the Binance Smart Chain (BSC) - now BNB Chain, which is an Ethereum fork with a Proof of Stake Authority (PoSA) consensus mechanism and the ability to integrate with the Ethereum Virtual Machine (EVM).

BakerySwap is a Uniswap clone running on the Binance Smart Chain (BSC) that offers AMM services and NFT trading. Instead of order books, liquidity pools are used to perform swaps.

Similar to Uniswap, participants receive Liquidity Pool (LP) tokens, which they can redeem for the assets and fees provided during liquidation, according to their share in the pool. BakerySwap also offers features such as staking liquidity and earning new tokens, as well as combined NFTs.

For each activity on the BakerySwap platform, a fee of 0.30% is charged. Of this fee, 0.25% goes to the liquidity providers, and the remaining 0.05% is used to buy back BakeryToken (BAKE) from the market and distribute it to BAKE holders. This model provides an incentive for users to use BakerySwap and provide liquidity.

The history of BAKE begins with the launch of BakerySwap in 2020. BakerySwap is a decentralized trading platform that runs on the BNB Chain and allows users to trade cryptocurrencies, provide liquidity, and earn returns through staking and farming. BakerySwap was introduced in September 2020 and quickly gained popularity as one of the leading DEXs on the BSC.

In 2021, BakerySwap's native token, BakeryToken (BAKE), was introduced. BAKE serves as a governance token, allowing holders to vote on changes and improvements to the BakerySwap platform. BAKE can also be used to participate in liquidity pools, provide liquidity, and earn rewards in the form of BAKE and other cryptocurrencies.

Since its launch, BAKE has become a significant cryptocurrency in the Binance Smart Chain ecosystem and has been embraced by users and investors as an integral part of BakerySwap and other DeFi projects on the BSC. The history of BAKE is closely tied to the development of BakerySwap and reflects the growing popularity and acceptance of decentralized financial services (DeFi) on the Binance Smart Chain.

BakerySwap, founded in 2020, is a relatively new project that emerged as a fork of Uniswap, similar to SushiSwap. The project was developed by a team of anonymous developers who believe in the potential of the decentralized autonomous organization (DAO) model.

The founders of BakerySwap have chosen to remain anonymous, and the team is also known for its stance against Initial Coin Offerings (ICOs), token pre-sales, and token allocations for the development team. As a result, the team holds no stake in the existing total supply of BAKE.

Instead, the team receives 1% of all BAKE tokens that are farmed as part of the farming function. This means that for every 100 farmed BAKE tokens, the development team receives 1 BAKE token as a reward. This unique approach to team incentives sets BakerySwap apart from other crypto providers and reflects the team's commitment to fair distribution and a decentralized governance model.