TVL > 100K
What is BakerySwap (BAKE)?
BakerySwap is a decentralized finance (DeFi) protocol that is built on the Binance Smart Chain. It works as a decentralized exchange (DEX) which adopts what is known as the automated market maker (AMM) model. There is no order book to match buyers and sellers, and users trade against a liquidity pool instead. The assets within each pool are provided by the supporters and users of BakerySwap, and users that add liquidity to these pools receive liquidity provider (LP) tokens in exchange which is in accordance with their share of the pool. They can then convert the LP tokens back to the original tokens which they supplied.
Who are the founders of BakerySwap (BAKE)?
The team behind BakerySwap is fully anonymous. They share a genuine belief in the future of decentralized autonomous organizations (DAOs) and have developed BakerySwap with this in mind. The chances are high that they will remain anonymous for the foreseeable future, as this is all aligned with the goal and overall image BakerySwap is trying to convey within the cryptocurrency world.
What makes BakerySwap (BAKE) unique?
The native cryptocurrency token of BakerySwap is called BAKE, and you can get it by providing liquidity to one of the pools, and then staking your liquidity pool tokens (BLP). You can then stake the LP tokens you get in return to farm BAKE. Additionally, you can buy BAKE on the open market. There are numerous BEP-20 liquidity pools, all of which are named within the theme of a bakery, such as Bread, where you can stake BAKE to earn BAKE for example, or Doughnut where you can stake BAKE-BNB BLP to earn BAKE.
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