What Is Bakeryswap? (BAKE) Complete Guide & Review About Bakeryswap

What Is Bakeryswap? (BAKE) Complete Guide & Review About Bakeryswap

What Is BakerySwap?

Launched in September 2020, BakeryToken (BAKE) is a part of the BakerySwap ecosystem. Liquidity providers are rewarded with BAKE tokens which can be used to earn a share of BakerySwap’s trading fees and to participate in voting as part of BakerySwap’s governance process. BakerySwap is a decentralized automated market-making (AMM) protocol that is based on the Binance Smart Chain (BSC).

The BAKE token is a native BEP-20 governance token on the platform. Users have the ability to earn BAKE tokens by providing liquidity on BakerySwap, and BAKE holders can use their tokens for governance voting and to receive transaction fee dividends. The BAKE rewards are offered in several liquidity pools, initially including BTC, ETH, DOT, LINK, BUSD and BAKE versus BNB.

BakerySwap Storage Key Points

Coin BasicInformation
Coin Name BakerySwap
Short Name BAKE
Circulating Supply188,717,930.45 BAKE
Total Supply277,237,400
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter Page Click Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project Website Click Here To Visit Project Website

Who Are the Founders of BakeryToken?

The team behind BakeryToken is an anonymous group of developers who believe in the future of decentralized autonomous organizations (DAOs).

Price

The live BakeryToken price today is $3.80 USD with a 24-hour trading volume of $260,372,953 USD. BakeryToken is down 21.66% in the last 24 hours. The current CoinMarketCap ranking is #99, with a live market cap of $716,955,350 USD. It has a circulating supply of 188,717,930 BAKE coins and a max. supply of 277,237,400 BAKE coins.

What Makes BakerySwap Unique?

BakerySwap runs on the Binance Smart Chain. The BAKE-BNB pool is expected to provide ten times the rewards compared to other pools.

BakerySwap, a Binance Smart Chain-based AMM, offers liquidity pools for altcoins such as LINK, DOT and others. It works through initial liquidity pools. BakerySwap has two types of liquidity pools: with BAKE rewards and without them. This is done in order to facilitate the creation of new liquidity pools by the community.

Only designated pools will have BAKE rewards. The reward multiplier for each will vary based on the value they provide to BAKE holders. BakerySwap charges a 0.30% fee on all swaps and trades, out of which 0.25% go to liquidity providers.

BakerySwap liquidity providers are then given liquidity pool tokens that represent their share of each pool. Through these tokens, they can earn a portion of the fees that are collected in the pools when removing the liquidity. Liquidity providers can then stake Bakery LP tokens to farm BAKE token rewards.

BakeryToken Wallet

BakeryToken produces its own wallet software that is available for download on its website, which allows you to store BakeryToken on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

How Is the BakeryToken Network Secured?

The BakerySwap network is secured through the use of real-time security monitors and intelligence systems. It has on-chain monitoring and passes many security checks.

Where Can You Buy BakeryToken (BAKE)?

BakeryToken (BAKE) can be purchased or sold on the following exchanges:

Binance

Gate.io

Pancake

Swap

Hotbit

Anyswap

Consult with the in-depth guide to find out more about how to buy Bitcoin and other cryptocurrencies.

Value Of BakeryToken

One BakeryToken (BAKE) is currently worth $3.59 on major cryptocurrency exchanges. You can also exchange one BakeryToken for 0.00009618 bitcoin(s) on major exchanges. The value (or market capitalization) of all available BakeryToken in U.S. dollars is $678.36 million.