BAKE SCAM OR LEGIT

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Blockchain247

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In Crypto space, There are a growing number of decentralized exchanges following the automated market maker (AMM) protocol made so famous by Uniswap, and one of the more interesting out there is Bakery Swap. BakerySwap ($ BAKE) works with Binance SmartChain (BSC) and combines the three hottest trends in cryptocurrency and blockchain space yield farming, non-fungible tokens (NFTs) and first DEX offers (IDOs). If you are ready to know all about this unique token then continue reading.

What is BAKE?​

Launched in September 2020, BakeryToken (BAKE) is a part of the BakerySwap ecosystem. Liquidity providers are rewarded with BAKE tokens which can be used to earn a share of BakerySwap’s trading fees and to participate in voting as part of BakerySwap’s governance process.

BakeryToken is a decentralized platform that operates on Binance Smart Chain. it provides a DEX (Decentralized Exchange) and AMM (automated market-making) in 2020. BakeryToken BAKE Tokens allow users to vote in BakeryToken polls and receive a portion of the trading fees. The protocol is the first protocol on the Binance Smart Chain to utilize both AMM and NFT services.

BakerySwap was created by an anonymous team of developers. Their intention for creating the protocol was to ensure a fair distribution of the token circulation.



The Features of BakerySwap
The BakerySwap protocol provides users the following accessibilities:​
  • Crypto Yield Farming.​
  • Non-fungible tokens trading market.​
  • Games or Gamification.​
  • The Launchpad.​

The native token in the BakerySwap protocol is BAKE. It is the BEP-20 token that has many use cases on the platform. The BEP-20 protocol is the native protocol of the BSC blockchain, similar to WRC-20 on Ethereum. BAKE was originally the management token of the BakerySwap protocol.

It can be said that Bake coin has very high applicability. Owning Bake coin will help you participate in many activities, such as:​
  • Use BAKE to buy NFT​
  • Use BAKE to participate in proposals, vote on system changes and receive dividends on transaction fees.​
  • Use BAKE to perform staking and farming to receive rewards.​
  • Join features like Gamification and Launchpad.​

The Team​


BakerySwap was created by a group of developers that want to remain unknown. All BAKE tokens produced or “farmed” to users go to these developers, who get 1% of the total.

The team is committed to making the project a decentralized independent entity (DAO). It started recruiting members of the BakerySwap community for different positions for the organization on March 21. Telegram Community Manager, Technical Support, and Content Creator are just a few examples of such jobs.​

BAKE pros and cons​


Pros
  • The project is still in its early stages, so there is plenty of potential for improvement.​
  • The staff is committed to assisting the community in governing the project.​
  • Many features and farming techniques are available.​
  • Bakery Combo is an agricultural tool as well as an NFT.​
Cons
  • Other Dapps that provide comparable services and features compete fiercely.​
  • Users may find the trading to be excessively high.​
  • The anonymous development team is a weakness that makes many investors wonder about the sustainable development of the project.​
  • Each investment has some risks​
Do you think that BAKE is a scam? We can’t confirm yet, but time will tell if it continues its rapid growth into the future. We are looking forward to hearing your opinion so please leave a comment in the comment section below.
 

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