BakerySwap is a decentralized finance (DeFi) protocol built on the Binance Smart Chain (BSC).
It’s similar to other decentralized exchanges (DEX) like Uniswap, but it also provides other unique features such as:
- NFT Marketplace: In addition to token swaps, BakerySwap features a marketplace for non-fungible tokens (NFTs). Users can buy, sell, and trade digital art and other types of NFTs directly on the platform.
- Bake Tokens: The platform’s native token, BAKE, is used for governance and to pay for transactions. Users can earn BAKE by providing liquidity to the platform’s liquidity pools, and they can stake BAKE to earn rewards.
- Low fees: Because it’s built on the Binance Smart Chain, BakerySwap offers significantly lower transaction fees compared to Ethereum-based DEXs. This has made it a popular choice among users who are put off by Ethereum’s high gas fees.
- Yield Farming and Liquidity Pools: Users can stake LP (Liquidity Provider) tokens in various yield farming pools to earn rewards, and they can contribute their tokens to liquidity pools to earn a share of the transaction fees.