BakerySwap (BAKE)BUY BAKE
BAKERYSWAP History / Information / Buying / Staking
BakerySwap is developed by an anonymous team. The team claims to have the interest of the decentralized autonomous organizations (DAOs) at heart. As such, it allows for full community involvement in decision-making. The DeFi project chose to harness the power of the Binance blockchain due to its low gas fees. Apart from fees, BSC has higher scalability than Ethereum. Therefore, BakerySwap can achieve a higher transaction speed while keeping the costs down.
HOW BAKERYSWAP WORKS
BakerySwap is a DeFi protocol that allows transactions to occur without the need for an order book. It is a decentralized crypto exchange (DEX) that makes use of the Automatic Market Maker (AMM). It operates on the Binance Smart Chain, making it of great functionality to Binance. The Exchange facilitates transactions through the BEP2 and BEP20 tokens.
BENEFITS OF USING BAKERYSWAP
Some of the benefits of using Bakeryswap are:
ETH 2.0 LIQUIDITY FARMING
BakerySwap and Binance launched an ETH 2.0 cross-chain bridge called ‘BETH.’ The project began to offer this service shortly after Phase 0 of ETH 2.0 began on December 1, 2020, for users who are unable to obtain the necessary 32 ETH required to become a Validator. ‘BETH’ is an anchor token of ETH2.0 issued by Binance on BSC for those users who’d like to participate in being ETH 2.0 Block Producer and this staking period is about 18 months. $BETH is the only token that can redeem $ETH at a rate of 1:1 after ETH 2.0 is upgraded.
BakerySwap was one of the first dApps to provide an NFT marketplace on the Binance Smart Chain. As the name suggests, amateur and professional artists can hop on over to the project’s NFT marketplace to put up their NFTs for sale.
BakerySwap launched their Bakery Gallery, where users and artists can demonstrate their talent by exhibiting their best NFT art for everyone to a few. They do not just seek to provide a place to sell NFTs,but also where some of the greatest emerging NFT artists can show their latest work, demonstrating to everyone that BakerySwap seeks to be a place for great talent to come together.
Gamification is another hot feature on BakerSwap. It is a place where NFTs are put to work for competition, games, and other events.
CAN YOU STAKE BAKERYSWAP
BakerySwap platform is on BSC and so secured by Proof of Staked Authority. Both BAKE and BLP can be staked on BakerySwap in order to earn rewards in BAKE. Binance offerS the highest rate with 14,23 % and a locked period of 90 days.
COINS SIMILAR TO BAKERYSWAP
Direct competition to Bakeryswap which are considered similar coins are: