BakeryToken to Participate in Hong Kong Web3 Festival 2024 in Hong Kong on April 6th

BakeryToken is set to make its first appearance at the esteemed Hong Kong Web3 Festival 2024 in Hong Kong on April 6th. The event is co-hosted with Bitcoin Cats.

Refer to the official tweet by BAKE:

BAKE Info

BakerySwap is a decentralized automated market-making (AMM) exchange protocol built on the Binance Smart Chain (BSC). As one of the pioneering projects on BSC, it differentiates itself by offering altcoin liquidity pools, eliminating the need for traditional order books and promoting direct trades against liquidity pools.

Unlike conventional exchanges, BakerySwap doesn’t rely on order books to match buyers and sellers. Instead, it utilizes liquidity pools where assets are supplied by its users and supporters. In return for providing liquidity, users receive liquidity provider (LP) tokens proportional to their contribution. These LP tokens can subsequently be converted back to the original assets based on the user’s share of the pool, with liquidity providers earning trading fees as compensation.

Central to the BakerySwap ecosystem is the native BEP-20 governance token, BAKE. Users can earn BAKE either by staking the token itself or by providing liquidity to the platform and then staking the resultant BLP tokens. Beyond being a reward mechanism, BAKE tokens allow holders to earn a portion of the platform’s trading fees and play a pivotal role in the governance processes of BakerySwap, ensuring community participation in decision-making.