BakeryToken

BakeryToken (BAKE) is a native BEP-20 governance token that plays a crucial role in the BakerySwap ecosystem. Introduced in September 2020, it operates on the Binance Smart Chain (BSC), a decentralized automated market-making (AMM) protocol. BAKE tokens are given to liquidity providers, and these tokens may be used to receive a portion of BakerySwap's transaction fees and to participate in the platform's governance process. BAKE holders may use their tokens for governance voting and to receive transaction fee compensations.

BakeryToken functions within the BakerySwap ecosystem, which is a decentralized automated market-making protocol. Users may receive BAKE tokens by providing liquidity on BakerySwap. BakerySwap applies a 0.30% fee on all swaps and trades, with 0.25% going to liquidity providers. These providers are then given liquidity pool tokens that represent their share of each pool. Through these tokens, they may receive a portion of the fees collected in the pools when removing liquidity. Liquidity providers may stake Bakery LP tokens to receive BAKE token compensation.

The primary use case for BakeryToken is as a reward for liquidity providers on the BakerySwap platform. These tokens may be used to receive a portion of BakerySwap's transaction fees and to participate in the platform's governance process. BAKE tokens also enable holders to participate in governance voting and to receive transaction fee compensations. The BAKE compensations are available in several liquidity pools, which initially include BTC, ETH, DOT, LINK, BUSD, and BAKE versus BNB.

BakeryToken was introduced in September 2020 as part of the BakerySwap ecosystem. The team behind BakeryToken is an anonymous group of developers who believe in the future of decentralized autonomous organizations (DAOs). BakerySwap, which operates on the Binance Smart Chain, provides liquidity pools for altcoins such as LINK, DOT, and others. It functions through initial liquidity pools and has two types of liquidity pools: with BAKE compensations and without them. This is done to facilitate the creation of new liquidity pools by the community.