BakerySwap is on my list of DeFi products even if I don't check it so often. I discovered this one in March 2021, when I made 2 NFTs for a competition and then sold them for 11.2 $BAKE. I decided to use it and stake the $BAKE because it has full Binance support and a full CertiK audit. The $BAKE token is the native token that has multiple usage, from rewards to staking and distribution to LP providers.
Rewards can be earned by staking BAKE or by creating LPs. The fee applied is 0.30% of all trades and swaps, from which 0.05% will be converted to BAKE reward for holders and 0.25% will be distributed to Liquidity Providers.
I staked the $BAKE since March and bought some more under $1 when I sold some UMFI I had from the Binance Launchpool. Was all staked in the Bread Pool for good weeks until the Aliens came to Earth and ordered some Trilium Cupcakes.
The Federation offered 170% APY and convinced me to $BAKE something else than the common bread! Moved the $BAKE stash into the Trilium Pool and left it there for over a month.
Meanwhile, the APY slowly dropped to 7.49% and the Trilium value dropped ... down to Earth! Also the constant issues with the Alien Worlds game made me feel pushed away and decided to bake bread again.
In 5 weeks I farmed 11.6 TLM, approximately $4, and this doesn't look to appealing. Farming $CAKE may be better as the value may grow bigger as the NFT Market keeps expanding and evolving.
Had to add Trilium ($TLM) as custom token on Metamask and sent it to Binance. Didn't dust it yet as I am still thinking about the PvP Battle Dome which is supposed to be implemented soon. Will Trilium surge again close the the value achieved after the Binance listing? Time will tell!
I moved the $BAKE back into the Bread Pool, at 5% APR, slowly growing the numbers while waiting for the token value to raise. I am a fan of numbers and the invested $13, which anyway were a gain from the Binance Launchpool, grew 6 times in 6 months. My stash of $BAKE is currently valued close to 78 dollars and will worth even more in few months.
BakerySwap is being upgraded and Farming 2.0 is coming. All pools will stop earning and all tokens and LPs must be manually unstaked from the old pools and added into the 2.0 equivalents.
BakerySwap Library
Using xDITTO and $BAKE at Bakery Swap - Is the bread still fresh?
Bakery Swap: From flipping pancakes to baking some bread!
Resources:
Join the CakeDeFi revolution and get $30 worth of DeFiChain (DFI)
Amazon author page: PV Mihalache
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I earn crypto for reading and writing on Publish0x and ReadCash, watching videos on Lbry.tv and surfing online on Brave Browser and Presearch.
This is damn cool. You are a multitasker. Kudos to you...