BakerySwap is a decentralised exchange that combines DeFi and NFT. In addition to popular DeFi operations such as harvesting and stacking, it creates an innovative way to provide financial utility to NFTs, where users can lend and borrow fractionated NFTs across multiple chains. In this BakerySwap review, we will explain how the platform functions, what transactions can be done and how profitable it is to use the exchange.

What is BakerySwap?

BakerySwap Web3 is a decentralised cryptocurrency exchange that uses automated market maker (AMM) services, initial DEX offerings, non-fungible tokens (NFT) and the latest feature – gamification. The project can be singled out as one of the first to utilise AMM and NFT services in the Binance Smart Chain.

The creators of the project wished to remain anonymous. When launching the project, the development team sought to create fair conditions for the distribution of token circulation. As a basis they took the ratio of 100 to 1, that is, with 10,000 BAKE tokens the creators receive 100. The coin was launched in autumn 2020.

The underlying smart chain is compatible with the Ethereum Virtual Machine (EVM) and is equipped with Proof-of-Stake-Authority (PoSA). This allows the protocol to provide low fees and fast transactions based on decentralised Ethereum applications (dApps).

The BakerySwap portal takes Web3 advantage of cryptocurrency services. When exchanging coins on the platform, classic ‘order tables’ are not used. The entire exchange takes place by creating liquidity pools. This allows clients to receive additional income. Clients can form a liquidity pool from their own funds and receive tokens from the platform for this. The bigger the user’s contribution, the bigger the income from the exchange.

BakerySwap offers two types of pools:

  • With BAKE rewards;
  • Without BAKE rewards.

This makes it easy for the community to form new liquidity pools. Only designated pools have rewards, and the specific reward multiplier varies for each pool, depending on the value provided.

Features of BakerySwap

The protocol offers users several earning formats. BakerySwap exchange customers can choose from:

  • farming;
  • trading non-replaceable tokens;
  • placing new tokens for trading;
  • games and gamification.

NFT trading

The BakerySwap exchange was one of the first on the BSC to utilise NFT. The portal initially offered the ability to use the BAKE token to create NFTs. Now, customers of the platform can use the exchange to purchase NFTs as well as earn BAKE through stacking on BakerySwap.

Modern artists and programmers can create new works of art and translate them into NFT format. They can use BakerySwap as a platform to earn money from their skills. The portal has a separate section dedicated to the created NFTs. BakerySwap customers can visit the NFT Supermarket and buy the product they like the most for a BAKE token.

BakerySwap Launchpad

BakerySwap developers know how difficult it is for young projects to break into the market and become popular among customers. To facilitate their work and generate revenue, BakerySwap offers tokenisation (IDO) in a fully decentralised environment.

Even before the official launch of the coin, the creators of cryptocurrency projects can sell some tokens to investors. This allows them to receive funds that can be spent on development. It is important to remember that investments in tokensales are associated with financial risks, it is recommended to consult with a specialist before making a decision.

Among the projects that used IDO from the BakerySwap protocol we can highlight the BLINK gaming platform, the Battle Pets game, and the DEFI100 investment protocol.

BakerySwap gamification

BakerySwap gamification products include BSC Game Box, Poker BlindBox, Soccer and Combo food.

BSC Game Box involves a bundle of the best NFT Game tokens in the Binance Smart Chain. Participants can use the NFT Poker BlindBox to receive random NFT poker cards, which are then used to farm the BAKE token and trade on the NFT trading platform.

Football NFTs correspond to one of Bakery’s exclusive limited edition football balls, as these NFTs can later be traded for real football balls. NFT combo dinners improve your bet and increase your earnings when farming on BakerySwap. BAKE contributions are required to make a combo. The more BAKE you contribute, the higher level combo you get, resulting in higher betting power.

In the case of buying a variety of tokens, opportunities open up to:

  • play online financial games;
  • buy and sell branded NFTs;
  • farm tokens at an increased rate;
  • participate in offline activities promoted by developers.

Game products on the BakerySwap site are subject to change and update. This is due to increased customer interest in gamification.

Farming BAKE

The BakerySwap platform has its own token called BAKE. It is needed for internal calculations and for paying incentives to active users. Clients of the platform can farm the token by adding BAKE to BakerySwap staking or by contributing their assets to liquidity pools.

BakerySwap uses several options for BAKE farming. Users can directly deposit purchased BAKE tokens into a liquidity pool and receive a percentage for doing so. Other coins can also be used, but in this case the revenue is paid to BLP BAKE. These coins can then be used to farm BAKE.

BakerySwap uses themed culinary names for the liquidity pools – bread, donuts, buns and others. The terms and conditions for earning income are specified to each programme. Note that the potential ROI is different for each liquidity pool.

BakerySwap token (BAKE)

The platform launched its BEP-20 token BAKE in October 2020. It is used to reward investors, earn interest from commission fees, and vote in protocol management. As of 03.02.2025, the price per token is 0.13 USD, the total capitalisation of the coin is 289 million USD.

Main features of the token:

  • no pre-mining or presale has been done;
  • the developers retained only 1% of the total number of tokens;
  • token pool BAKE – BNB is rewarded tenfold compared to other pools;
  • commission on all transactions is 0.3%, liquidity providers share 0.25% of the commission among themselves.

These features make the token stand out and allow users to earn more income compared to other platforms.

What makes the BAKE token unique?

BakerySwap token stands out from the rest that decentralised projects offer. Among the features of the coin we can highlight

It is built on the Binance smartchain. When choosing the BAKE-BNB liquidity pool, users can receive increased income, compared to other chains.

BAKE rewards are only given to certain pools, and the rewards and terms may vary depending on the amount the user chooses.

Liquidity providers receive most of the commission that users pay into their account.

LP providers receive LP tokens according to their share in each pool. With these shared tokens, they can earn a percentage of the fees charged when liquidity is removed from the pools. LP providers may elect to place BAKE LP tokens to earn rewards for BAKE tokens.

How to get started with BakerySwap

BakerySwap uses all the advantages of Web3, so there is no classic registration on the portal. To start working with the protocol you just need to add your cryptocurrency wallet. We will show you how to do it on the example of Metamask, but you can use another one.

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There are five steps to the integration process:

  1. Open the BakerySwap website. Click Connect to a wallet in the upper right corner of the screen.
  2. Select MetaMask from the provided options.
  3. In the MetaMask Notification window that opens, specify the accounts to be connected and click Next.
  4. Provide the system with access to the addresses of the allowed accounts.
  5. As soon as your wallet is added to the protocol, the address of connection to BakerySwap will appear next to the settings button.

When you click on the wallet address, information about transactions will appear, including a link to view them in BscScan.

How to exchange cryptocurrency

The BakerySwap exchange allows customers to conduct financial transactions. Users can exchange tokens with minimal fees. You can take advantage of the cryptocurrency exchange only after adding a wallet.

To purchase tokens one needs to open the side menu, select Trade – Exchange. This will take the user to the exchange window. In it, it is necessary to select the asset you are giving and the one you want to receive in the drop-down list.

The conversion will be carried out automatically and the client will see the amount he will receive as a result of the exchange. The transaction window also contains additional information – the minimum possible amount of the final proceeds, the difference between the market and settlement price, the amount of commission and the most favourable intermediate exchange route.

To proceed to the transaction processing, you need to agree to the financial operation. This can be done using a code that the client will receive. Once the exchange is approved, the funds will be credited to the balance as soon as the transaction is processed on the blockchain.

In the settings of the personal account, the user can set the slippage threshold. This is the percentage by which the exchange price can grow as a result of transactions. The silence threshold is 0.5%. This means that if, as a result of transactions, the price will be changed by more than 0.5%, the transaction is cancelled and a new variant is searched for. Also in the settings you can specify the maximum time for the transaction, the default is 20 minutes.

How to add funds to the liquidity pool

To provide the platform with your own funds to earn on the commission, you need to select Trade, then Liquidity in the menu. Click Add Liquidity.

In the new window, enter the amounts and currencies that you will use for passive earnings. It is necessary to familiarise yourself with the conditions and prices offered by the platform based on your capabilities. If everything is satisfactory, then deposit money by confirming the transaction.

The service will credit tokens representing your position. They will automatically generate income in proportion to the share in the pool. You can sell them at any time. For each Swap transaction you will receive 0.25%.

Where to buy, sell or exchange BAKE token

You can buy the token directly on BakerySwap. This is the easiest and safest option. An alternative to the main platform is the Binance crypto exchange, which trades BAKE token.

To purchase the asset you need to:

  • open the site of the Binance exchange;
  • register if you do not have an account or authorise if you have one;
  • check your balance and top up if necessary;
  • find the BAKE token in the offers section and click on the ‘Trade’ button;
  • select a trading pair, one of the assets will be BAKE, the second one will be the cryptocurrency in which you will pay the bill;
  • create a buy order.

Purchased coins on the spot market will be immediately credited to the exchange account, after that they can be withdrawn or used in another way.

How to earn with BakerySwap?

The project offers BAKE token holders three main ways to earn income.

The first is to become a liquidity provider for BakerySwap. Users provide the platform with their own funds, which it uses to convert transfers in different chains. For providing assets, users receive a share in the pool in proportion to their contribution. Tokens are earned by the user at the time of transactions by other customers.

The second is to bet on the BLP tokens earned in the first option. The client can get even more tokens or convert them into a BAKE token. The format of earning depends on the type of pool chosen.

The third one is getting BAKE tokens through farming. The portal offers several rates, each of which is named in honour of confectionery or baked goods. Choose the right conditions, transfer your funds and take them with interest if all conditions are met.

General algorithm of how to use BakerySwap

Below is an instruction that will allow you to understand the basic transactions that are available on the platform. First, we will indicate the general steps that will allow you to add your wallet, and then the transaction options available to users.

General rules for using the BakerySwap platform:

  • Make sure your device is connected to the internet.
  • Check if the BakerySwap URL is correct.
  • On the homepage, find the ‘Connect Wallet’ icon and click on the button.
  • In the drop-down list, select the wallet you plan to add, e.g. MetaMask, Trust or other.
  • Confirm the addition of the wallet to the BakerySwap platform. This can be done by following the system prompts, just follow them.
  • Make sure that your wallet stores the funds that you plan to use for working with the platform.

This completes the binding of your wallet. Now we will show you what operations you can perform.

To exchange tokens you need to go to Swap. In the exchange form, specify the coins that you give and those that you want to receive. Enter the exchange amount and the system will automatically calculate the conversion rate. Confirm the operation.

To add liquidity, select the appropriate icon in the menu. Next, select a pair of coins in which you will invest. Enter the amount you want to bet and click ‘Confirm BAKE delivery’ and then ‘Confirm delivery’ to complete the process.

To bid BAKE tokens (LP), click ‘Earnings’ in the menu on the left. And click on the ‘Earn Bake’ icon. Select the pool that reflects BLP tokens and then click ‘Select’ button. Click ‘Confirm BAKE-BNB BLP’ to complete the stacking transaction process. To receive your reward visit the pool and withdraw your bid from liquidity.

Note that you will confirm any transactions that involve withdrawals in your cryptocurrency wallet. This will safeguard against unexpected spending, as no transaction will be completed without your consent.

Conclusion

BakerySwap is a comprehensive DeFi ecosystem based on BNB Smart Chain. The platform opens up many different opportunities for users: earning from buying or creating NFTs, passive income from contributions to the liquidity pool, favourable cryptocurrency exchange, participation in IDO.

Answers to Frequent Questions

What is BakerySwap?

BakerySwap is a decentralised token exchange and pharming platform based on the BNB Smart Chain blockchain.

What are the benefits of using your own BAKE token?

Owning a token allows you to earn additional income through farming, providing coins to the liquidity pool, and also gives you the opportunity to participate in the development of the platform.

Where can I buy BAKE token?

It is traded on Binance, Bitget, MEXC, Gate.io and other crypto exchanges (both centralised and DEX). Once purchased, coins can be stored on the balance of wallets that support the BNB Smart Chain blockchain, such as Trust Wallet, MetaMask, Binance Chain Wallet and others.

How safe is it to work with BakerySwap exchange?

BakerySwap is a decentralised platform, so users’ funds are stored on their own wallets, not on the exchange’s accounts. Thus, there is no chance of a hacker attack that would make all customers’ money disappear at once.