Founded by a former workaholic media attorney, By the Way Bakery serves up gluten-free, dairy-free and kosher baked goods. CEO Helene Godin’s treats have earned her a devoted following.
The old-fashioned New York City bakery makes everything from scratch in small batches at its four locations across the city and Connecticut. Its famous Mo Mix is now shipped nationwide, while select baked goods are found in Whole Foods.
What is BakerySwap?
BakerySwap is a Decentralized Exchange (DEX) and Non-Fungible Token (NFT) supermarket platform. It offers fast, low fees, and tasty services on Binance Smart Chain starting from the Exchange of BEP-20 tokens to earning passive income, staking BAKE or creating NFT combos.
Bakeryswap’s platform is based on the PoSA protocol, which is a blockchain-based infrastructure for increased efficiency and faster execution of operations. Similar to Proof of Stake, PoSA enables users to stake their identity as a form of asset, rather than monetary value, resulting in higher usability and capacity.
The BAKE token is the native token of the BakerySwap protocol, which enables users to vote in governance-related decisions and provides access to a wide variety of functionalities such as yield farming, crypto launchpad and NFT investment opportunities. The token is also used to reward LPs who provide liquidity and BAKE holders for their participation in the network.
BakerySwap charges a 0.30% fee on all swaps and trades, of which 0.25% is paid to liquidity providers (LPs). Liquidity providers are then given liquidity pool tokens that represent their share of each pool, and can earn a portion of the fees collected in the pools when they remove liquidity from the system. LPs can then stake their tokens to farm BAKE rewards, with each LP’s’reward multiplier’ depending on its value to BAKE holders.
What is the BakeryToken Network?
The BakeryToken Network is a decentralized automated market-making protocol (AMM) based on the Binance Smart Chain. It uses a native BEP-20 governance token that rewards users with transaction fees and voting opportunities as part of the BakerySwap platform’s governance process.
The platform is built by an anonymous team who believes in the future of decentralized autonomous organizations (DAO). Its focus is on community-based governance and tokenization.
It runs on a liquidity pool and relies on constant product formulae to price between two assets, a feature that helps it achieve high transaction speeds while also avoiding the need for an intermediary. It also solves the problem of orders being left unmatched on exchanges by paying a reward to those who provide liquidity.
The platform is available with most major crypto exchanges, although it is not available with every broker. It is best to check the listings for a broker that offers it, and to make sure it has low trading fees.
How does BakerySwap work?
BakerySwap is a decentralized exchange (DEX) built on the automated market maker (AMM) model. As an AMM DEX, it does not use an order book to match buyers and sellers, but instead, users trade against reserves known as liquidity pools.
These pools contain specific assets that are provided by both BakerySwap’s users and supporters. Traders contribute their token balances to these pools in exchange for fees on transactions.
As an AMM DEX, BakerySwap does not have an order book and instead, traders trade against liquidity pools that are created by users. In return, they are awarded LP tokens that allow them to get back the original tokens they contributed to the pool.
In addition to trading, traders can also participate in non-fungible token (NFT) farming. These tokens are special and can only be mined on the platform. The tokens can be staked or traded for other cryptocurrencies. Furthermore, users can mint special meals called NFT combos, which require a high proportion of BAKE locked up. At any time, the user can break down these NFT combos to recover 90% of the BAKE tokens they staked.
What is the BakeryToken Network’s reward system?
The BakeryToken Network’s reward system is based on the Binance Smart Chain (BSC) and uses Proof of Staked Authority to protect the platform. The protocol enables users to exchange altcoins, BEP-20 tokens, BNB, and more through liquidity pools that are hosted on BSC smart contracts.
The protocol charges a 0.30% fee on swaps and trades, out of which 0.25% goes to liquidity providers. These providers are given liquidity pool tokens that represent their share of each pool.
These tokens are then staked to farm BAKE rewards. The reward multiplier for each type of pool will vary based on the value provided by that pool.
In addition to BAKE, the network also supports the native Bakery Liquidity Provider tokens (BLP). These are specifically used for rewarding liquidity providers and can be staked or traded for BAKE.