BakerySwap is a decentralised exchange (DEX) and automated market-making (AMM) protocol built on the Binance Smart Chain (BSC). It facilitates token swaps, liquidity provision, and NFT trading, offering a platform that combines DeFi and NFT elements.
BakerySwap operates using the AMM model, where users can trade cryptocurrencies through liquidity pools rather than traditional order books. By providing liquidity, users can earn BAKE tokens, which can be used within the platform for various purposes, such as transaction fee distributions, trading NFTs, and participating in launch events. Its AMM model utilises smart contracts on the Binance Smart Chain to automate trades and maintain liquidity.
BakerySwap has several applications:
BakerySwap launched in 2020, developed by an anonymous team under a DAO structure. It began as a fork of Uniswap but tailored for the Binance Smart Chain to offer lower transaction fees and quicker processing. Over time, it expanded its features to include unique NFT-related functionalities and developed strategic partnerships to enhance its platform within the DeFi and NFT sectors.