KEYTAKEAWAYS
- BakerySwap combines DeFi, NFTs, and AI-powered creations, offering fast, low-cost transactions on the Binance Smart Chain (BSC).
- Users can earn BAKE tokens through staking, liquidity provision, or purchasing them on major exchanges like Binance.
- The platform features a dual NFT marketplace and a Launchpad for NFT projects, providing diverse opportunities for creators and investors.
CONTENT
Learn BakerySwap, a leading DEX on Binance Smart Chain (BSC), offering DeFi services, NFT marketplaces, and staking opportunities powered by its native token, BAKE.
BakerySwap is a multifunctional platform that seamlessly combines decentralized finance (DeFi) and non-fungible tokens (NFTs), making it one of the most notable decentralized exchanges (DEX) operating on the Binance Smart Chain (BSC).
Launched in September 2020, it serves as both an automated market maker (AMM) and a decentralized exchange, offering users a smooth trading experience without the need for order books, while ensuring complete control over their funds.
>>> More to read: What is Binance Smart Chain(BSC)?
WHAT IS BAKERYSWAP?
The native token of BakerySwap is BakeryToken (BAKE), built on the BSC-20 standard. Unlike Ethereum-based Uniswap, BakerySwap relies on the Binance Smart Chain (BSC), a blockchain network launched in 2018 to support Binance’s high-speed data transfers and 24/7 trading volume.
In September 2020, BSC introduced smart contract functionality, providing an interoperable alternative to Ethereum with faster transactions and lower fees.
📌 Key Features of BakerySwap
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Multi-Chain Ecosystem Expansion
BakerySwap aims to expand its ecosystem through multi-chain integration. It currently supports popular networks such as Arbitrum, Polygon, BASE, and others, enhancing cross-chain interoperability and platform scalability.
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Comprehensive NFT Marketplace
As a thoughtfully designed NFT marketplace, BakerySwap offers an all-in-one solution for NFT minting, issuance, token mapping, and trading. This makes it a convenient platform for creators and collectors to manage and trade their digital assets effortlessly.
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AI-Powered Creation Platform
Notably, BakerySwap integrates Artificial Intelligence Generated Content (AIGC) technology. The platform supports a wide range of AI-driven creations, including digital art, PFP (Profile Picture) generation, and various IP-based content, further expanding the potential applications of NFTs.
📌 Why Choose BakerySwap?
Unlike other decentralized exchanges, BakerySwap is more than just a trading platform—it represents an innovative ecosystem that merges DeFi, NFTs, and AI-powered creation.
Designed to provide users with a fast, low-cost, and highly interoperable blockchain experience, BakerySwap stands out as a significant player within the BSC ecosystem.
In summary, BakerySwap is setting a new benchmark in the decentralized ecosystem with its multi-chain support, innovative NFT features, and AI technology integration.
>>> More to read: What is SUSHI? Sushiswap Token
WHAT IS BAKERYTOKEN (BAKE)?
BakeryToken (BAKE) is the native BEP-20 governance token of BakerySwap, enabling holders to participate in protocol decision-making through voting.
Just as ERC-20 tokens are native to the Ethereum blockchain, BEP-20 tokens are exclusive to the Binance Smart Chain (BSC).
Users can earn BAKE not only by providing liquidity but also through staking in various BEP-20 liquidity pools.
Additionally, BAKE tokens can be purchased on platforms like BakerySwap, PancakeSwap, or Binance.
Holding BAKE also grants users the right to participate in governance votes that influence the platform’s future development.
📌 How to Mine BAKE Tokens?
Mining BAKE involves two key steps:
✅ Provide Liquidity:
Contribute liquidity to one of the pools on BakerySwap to receive BakerySwap Liquidity Pool (BLP) tokens.
- For example, if you provide liquidity to the ETH-BNB pool, you will receive ETH-BNB BLP tokens.
✅ Stake BLP Tokens:
Stake the earned BLP tokens on BakerySwap to start receiving BAKE rewards.
📌 BAKE Staking Pools
BakerySwap offers a variety of themed liquidity pools, where staking specific token pairs rewards users with BAKE tokens. As of 2021, users can mine BAKE in the following pools:
- Bread: Stake BAKE to earn more BAKE
- Doughnut: Stake BAKE-BNB BLP to earn BAKE
- Waffle: Stake BAKE-BUSD BLP to earn BAKE
- Croissant: Stake BAKE-DOT BLP to earn BAKE
- Latte: Stake USDT-BUSD BLP to earn BAKE
- Toast: Stake ETH-BNB BLP to earn BAKE
- Cake: Stake BTC-BNB BLP to earn BAKE
- Pet Food: Stake PET-BAKE BLP to earn BAKE
📌 Beyond Bakery-Themed Pools
In addition to these bakery-themed pools, BakerySwap also supports non-bakery specific staking options.
For example, users can stake BAKE tokens to earn alternative BEP-20 tokens such as TLM, TSA, TKO, and xDitto.
💡 Why BAKE Matters
BAKE plays a crucial role in the BakerySwap ecosystem by:
- Empowering users to influence governance decisions
- Rewarding liquidity providers and stakers with passive income opportunities
- Supporting a versatile platform that integrates DeFi, NFTs, and AI-driven content creation
With its combination of user-friendly features and robust tokenomics, BakerySwap and its native token BAKE continue to be key players in the BSC ecosystem.
>>> More to read: What is AMM & How Does It Work?
HOW DOES BAKERYSWAP (BAKE) WORK?
BakerySwap operates using an automated market maker (AMM) model, similar to Uniswap. Users deposit their assets into liquidity pools and, in return, earn token rewards.
When liquidity is added to a pool’s smart contract, users receive an equivalent amount of Liquidity Provider (LP) tokens based on their contribution.
For instance, depositing BNB-BAKE token pairs into a liquidity pool yields BNB-BAKE LP tokens of equal value.
Liquidity providers earn a portion of trading fees and can redeem their original assets by converting LP tokens back into the underlying tokens.
Additionally, BAKE tokens give holders governance rights, enabling them to submit proposals and vote on key protocol decisions.
📌 Transaction Fees and Rewards
For every transaction on BakerySwap, a 0.30% fee is applied:
- 0.25% goes directly to liquidity providers.
- 0.05% is converted into BAKE tokens and distributed as rewards to existing BAKE holders.
This fee structure incentivizes both liquidity providers and long-term BAKE token holders, ensuring active community participation and sustainable growth.
>>> More to read: What is AMM & How Does It Work?
BAKERYSWAP NFT MARKETPLACE
BakerySwap offers two distinct NFT marketplaces—BakerySwap NFT and Bakery Gallery—alongside an exclusive Launchpad for NFT releases.
This multi-faceted ecosystem makes BakerySwap a comprehensive hub for both DeFi and NFTs on the Binance Smart Chain (BSC).
1. BakerySwap NFT Marketplace
Beyond functioning as a DEX and staking protocol, BakerySwap expanded its services by launching an NFT marketplace, making it the first AMM and NFT exchange on BSC.
Users can access this marketplace through BakerySwap V2, where they can:
- Buy NFTs: Explore a wide range of digital collectibles available for purchase.
- Mint NFTs: Creators can mint their own NFTs, providing a seamless entry point into the digital art space.
To promote fairness, BakerySwap integrates a bidding feature, allowing NFT creators to customize sales parameters, thus enabling more dynamic and competitive NFT auctions.
2. Bakery Gallery
Launched in April 2021, Bakery Gallery offers a more exclusive and curated NFT experience compared to the open BakerySwap NFT marketplace.
The main distinction lies in its closed nature, designed to attract experienced collectors and investors by showcasing high-quality, premium projects that can compete with top Ethereum-based platforms.
The Bakery Gallery consists of three main sections:
- Upcoming Drops: Information on upcoming NFT releases, allowing collectors to plan their acquisitions.
- Featured Artists: Profiles of curated artists, giving exposure to talented creators within the ecosystem.
- Artworks: A display of NFT collections, similar to a digital supermarket, where collectors can browse and purchase unique pieces.
This platform aims to increase visibility for artists and attract top-tier talent to the BSC ecosystem through well-organized NFT launch events.
3. BakerySwap Launchpad
Similar to Binance Launchpad, the BakerySwap Launchpad offers users early access to new projects on BSC.
However, unlike Binance’s focus on utility tokens, BakerySwap Launchpad specializes in launching NFT projects.
Since BakerySwap operates as a DEX, these NFT releases are classified as Initial DEX Offerings (IDOs).
The first IDO hosted on the platform was Battle Pets, a blockchain-based game where players can breed, trade, and battle NFT pets on BSC.
💡 Why BakerySwap’s NFT Ecosystem Stands Out
- Comprehensive Access: Users can trade, mint, and stake NFTs all within the BakerySwap ecosystem.
- Curated Experiences: The Bakery Gallery provides a premium experience by focusing on quality artists and exclusive drops.
- Innovative Launchpad: The Launchpad allows users to invest in the next big NFT projects, ensuring early access to potential hits.
By offering these integrated NFT services, BakerySwap continues to position itself as a leading platform within both the DeFi and NFT sectors on BSC.
>>> More to read: What is $CAKE | Introduction to PancakeSwap
The BSC ecosystem has experienced remarkable growth in a short period, driving the rapid rise of compatible platforms like BakerySwap.
As more users enter the BSC ecosystem, BakerySwap is poised to become even more prominent.
Whether users are looking to swap BEP-20 tokens, earn passive income through staking, farm BAKE tokens, or buy and sell NFTs, BakerySwap offers comprehensive solutions for all.
