This week, a new project from Bakery Swap with the crypto asset name BAKE will be listed on Indodax. Open deposit will start on 12 August 2021 at 14:00 WIB and open trading will start on 13 August 2021 also at 14:00 WIB.
Don’t be fooled by its very unique name. Launched in September 2020, Bakery Token (BAKE) is part of the BakerySwap ecosystem. So not a bakery huh! A liquidity provider with BAKE tokens which can be used to obtain a share of BakerySwap trading fees and to participate in voting as part of the BakerySwap governance process.
Still confused? Don’t worry, because before buying, it is important for you to find the background of a project so that you can have the most suitable crypto asset. And this time, Indodax Academy will share and you can read this article to know more about BAKE.
What is BAKE?
BakerySwap a decentralized Automated Market Making (AMM) protocol based on the Binance Smart Chain (BSC). The BAKE token is a BEP-20 governance token.
Users have the ability to earn BAKE tokens by providing liquidity on BakerySwap and BAKE holders can use their tokens for governance voting and to receive transaction fee dividends. BAKE rewards or imbalances are offered in several liquidity pools, initially including BTC, ETH, DOT, LINK, BUSD and BAKE versus BNB.
On April 27, 2021, BakerySwap, launches Bakery Gallery, a new curation platform that complements NFT’s product offerings, and aims to compete with the best quality Ethereum platforms. Attracting gifted and sophisticated collectors and investors is the main goal of Bakery Gallery.
Who is the Founder?
The team behind BakeryToken is a group of anonymous developers who believe in the future of decentralized autonomous organizations (DAOs).
What Makes BakeryToken Unique?
BakerySwap works through the initial liquidity pool. BakerySwap has two types of liquidity pools: with BAKE rewards and without. This is done in order to facilitate the creation of a new liquidity pool by the public.
Only the designated pool will get the BAKE prize. The prize multipliers for each will vary based on the value they provide to BAKE holders.
BakerySwap charges a 0.30% fee for all swaps and trades, of which 0.25% goes to liquidity providers.
The liquidity provider is then awarded a liquidity pool token that represents a share of each pool. Through this token, they can earn a portion of the fees collected in the pool when issuing liquidity. The liquidity provider can then stake Bakery LP tokens to earn BAKE token rewards.
BAKE Crypto Assets
The trading volume of BAKE in the last 24 hours was $153,171,153 USD, prior to listing on Indodax. on CoinMarketCap it is currently #126, with a live market rating of $400,742,860 USD.
BAKE has a stock of 171,334,711 tokens in circulation and max. supply is not available alias unlimited.
How to Buy BAKE Crypto Assets on Indodax
For those of you who want to buy BAKE crypto assets, you can use them on Indodax starting August 13, 2021 at 14:00 WIB. Here’s how to buy the BAKE crypto asset:
- For those of you who are not yet a member, you can click the link here
- After that, make a deposit. For those of you who are confused about how to deposit, click on this link
- After your deposit and balance come in, you can go back to the market
- Look for BAKE in the Rupiah market then click
- After entering, you just have to buy by filling in the balance and at what price you want to buy BAKE. You can also instantly or directly at the current price
- After that, you need to patiently wait for the price to increase for some time
- After the price increases, you can sell at a higher price with the instant method
- If you sell with the limit method, you can place an order after buying. Make sure you enter a higher number when selling.