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What is the issue volume of BAKE coins? One article to introduce the application scenarios of BAKE coins
BAKE tokens incentivize liquidity provision, enable governance voting, and generate rewards through staking and exchange fee payments within the BakerySwap ecosystem.
Oct 28, 2024 at 04:55 pm
Understanding BAKE Coin: Issue Volume and Application Scenarios
Issue Volume
BAKE tokens are the native utility tokens of the BakerySwap decentralized exchange (DEX). The initial issue volume of BAKE was 200 million, with 75% distributed to liquidity providers, 15% allocated to the treasury, 5% dedicated to exchange management, and 5% retained by the team.
Application Scenarios
BAKE coins provide various utility and governance functions within the BakerySwap ecosystem:
- Governance: BAKE holders participate in the BakerySwap decentralized autonomous organization (DAO) and have voting rights on platform decisions and protocol updates.
- Liquidity Incentives: Liquidity providers receive rewards in BAKE tokens for depositing their crypto assets into BakerySwap's liquidity pools. This incentivizes the provision of liquidity and supports stable token swaps.
- Exchange Fees: BAKE is used to pay transaction fees on the BakerySwap exchange. This revenue helps support the platform's operations and development.
- Staking Rewards: BAKE holders can stake their tokens in liquidity pools or in the BakerySwap Masterchef smart contract to earn additional BAKE rewards. Staking contributes to the security and stability of the ecosystem.
- BakerySwap Membership: BAKE holders are considered members of the BakerySwap community and receive exclusive access to airdrops, competitions, and other community benefits.
- NFT Marketplace Fees: BAKE is used to pay transaction fees on BakerySwap's NFT marketplace, NFT Bakery. This supports the growth and activity of the marketplace.
- Launchpad: BAKE was initially used as the governance token for BakerySwap's launchpad, which allowed users to participate in initial DEX offerings (IDOs). However, the launchpad is no longer active.
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