Born in September 2020, like Pancakeswap, Bakeryswap is one of the most reliable and consistent Binance Smart Chain platforms yet. Something forgotten by the community, since it cannot boast of presenting very high returns, but in the long term it has many advantages over other DeFi projects.
Bakeryswap is linked to the Bake token, its currency of exchange and governance. It has a limited supply, that is, the Bake tokens are finite and this allows it to be sustained in price and maintenance in the future. Many other platforms need to burn hundreds of tokens every so often for price and distribution to balance, but long-term unlimited supplies are less consistent.
Bakeryswap has many cards up its sleeve and one of the things that stands out the most about this project is its Exchange, fully decentralized and with support for many tokens. Second is your attention and response time to important events like the recent rise of the Doge. With all the FOMO that arose around this, Bakeryswap got down to business and opened a Doge and Bake liquidity pool to farm the Bake token. Pretty fast.
Ultimately, it is the only one within the BSC that has a market for NFTs and you can also farm them. An interesting point that gives it more stability in the long term. All NFTs have to be paid with Bake. Only currency of exchange. Bakeryswap's diversification also reaches Ethereum 2.0. In their menu we can see that they support the Top 2 cryptocurrency in the world within the BSC. The so-called BETH. This token can be obtained from your Exchange and used to add liquidity to the platform. They will pay us both BETH and BAKE.
Currently, as I say, it does not stand out for its APY. Right now I am participating in the wSOTE pool staking my Bakes and I do not receive more than 39%. Compared to Pancakeswap or Acryptos it is very little. However, I am confident that the token will appreciate in a few months and we can increase the capital.
The application runs perfectly on Metamask and Trustwallet.
I communicated yesterday that there are many projects within the BSC that are pure garbage. Cheap and crappy Pancakeswap copycats that just aim to charm users with unsustainable returns. Bakeryswap, Pancakeswap, Beefy, Acryptos, JetFuel.finance are the ones that currently have the most security, for the remainder of the year. You already know that in less than 48 hours everything can disappear unexpectedly.
As always, do your research and work with a profit that you don't need. In this way, if there is a loss, it will not be so painful. Change your psychological relationship with money before entering the DeFi world.