BakeryToken

• BakeryToken (BAKE) is a BEP-20 governance and utility token within BakerySwap on Binance Smart Chain (BSC).

• BAKE holders earn rewards through liquidity provision, governance voting, and transaction fee dividends.

• BakeryToken's tokenomics are tailored to bolster its role within the BakerySwap ecosystem, a decentralised exchange (DEX) and automated market maker (AMM) on the Binance Smart Chain (BSC).

• Total supply is capped at 1 billion BAKE tokens, ensuring scarcity and long-term value retention.

• Distribution mechanisms include yield farming, liquidity mining, and token sales, which are integral to incentivising participation and ensuring liquidity.

• Yield farming and liquidity mining enables users to earn BAKE rewards for providing liquidity to trading pairs, enhancing liquidity and fostering decentralised ownership.

• This economic model aims to create a self-sustaining platform, aligning incentives for participation with BakerySwap's growth and success.

• Based on broader trends in decentralised finance (DeFi), tokenomics play is crucial in encouraging active participation and investment in the platform.

• Overall, BakeryToken's tokenomics support its utility, incentivise participation, and ensure liquidity and growth within the BakerySwap ecosystem.

As of today 21 November 2024, the price of BakeryToken is ₹22.33 INR, with a 24-hour trading volume of 16875382.78 USD. The market capitalisation for BakeryToken is 73884168.62USD. The circulating supply is 289770511.79 BakeryToken, with the total supply also being 289770511.79 BakeryToken.

Pros:

• BAKE rewards incentivise liquidity provision and governance participation.

• Binance Smart Chain operation offers lower transaction fees.

Cons:

• Risk of volatility and potential loss.

• The lack of a maximum supply cap may lead to inflationary pressures.

• Attractive for DeFi believers, BakerySwap supporters, and those interested in liquidity provision and governance.

• Individual risk tolerance and research should guide investment decisions.

• BAKE's integration in BakerySwap combines AMM functionalities with a decentralised NFT marketplace, providing a comprehensive DeFi experience on BSC.

• Addresses high fees and slow speeds on Ethereum-based AMMs by operating on Binance Smart Chain, which is known for lower fees and faster transactions.

• BakerySwap, launched in 2020, is a Uniswap fork committed to the DAO model, avoiding ICOs and pre-sales.

• The team, opting for anonymity, earns 1% from farming without owning BAKE supply.

• Involves risks such as market volatility, regulatory changes, and technological issues within BakerySwap.

• Thorough research and risk assessment are crucial for investors.

BakeryToken (BAKE) is the native cryptocurrency of BakerySwap, a decentralised finance (DeFi) platform operating on the Binance Smart Chain (BSC), featuring automated market-making (AMM) functionality. BAKE serves multiple purposes within the BakerySwap ecosystem, including rewarding liquidity providers, granting governance rights, and facilitating transactions and exchanges. Unlike Bitcoin, BAKE does not have a predetermined maximum supply, enhancing its economic dynamics.

The BakerySwap team's decision to maintain anonymity aligns with the ethos of early cryptocurrency projects. BAKE's primary appeal lies in its utility within and beyond the BakerySwap ecosystem, offering a comprehensive DeFi experience on BSC.

While the BakerySwap whitepaper outlines the project's vision, technical framework, and economic model, specific details are not readily available. However, BakerySwap integrates AMM functionality with a decentralised NFT marketplace, aiming to address high transaction fees and slow speeds prevalent in Ethereum-based AMMs by leveraging the capabilities of BSC. Future developments include Farming 2.0 and NFT Marketplace 3.0, demonstrating BakerySwap's commitment to innovation and improvement.

Additionally, the BakerySwap team remains proactive in updating tokenomics and products for the benefit of users, as evidenced by community proposals such as burning over 75% of newly released BAKE tokens.