BakerySwap or BAKE (Trade BAKE with MEXC Global) is the first Automated Market Maker (AMM) and NFT marketplace with a decentralized structure built on Binance Smart Chain (BSC). This allows users to easily and quickly exchange tokens using a combination of her NFT capabilities on the platform and her other DeFi tools. This article covers everything you need to know about BakerySwap and a guide on how to buy BAKE tokens.
BakerySwap does not integrate the orderbook into its system like other decentralized exchanges (DEX). Instead of taking place between sellers and buyers, the trading and exchanging activities are supported by liquidity pools. For users to transact with non-fungible tokens, BakerySwap functions as a decentralized application with utilities, a launchpad, and an NFT marketplace. Here, I'll go into greater detail regarding its main characteristics:
Launchpad
The BakerySwap Launchpad gives users access to recently released projects on BSC, similar to the MEXC Launchpad. However, BakerySwap Launchpad publishes his NFTs and not other crypto projects. Since the Bakery Swap is a DEX, issuing his NFT using this mechanism is known as an Initial DEX Offering (IDO).
NFT Marketplace
A NFT market is currently available on BakerySwap, which also serves as a DEX and a staking system. Users have access to this market through protocol version two (V2), where they can buy NFTs or mint their own. With the use of a bidding feature built into BakerySwap, NFT producers can modify the terms of the sale to make the procedure more fair.
How to Buy BAKE?
You can buy BAKE on MEXC by the following the steps:
BakerySwap does not integrate the orderbook into its system like other decentralized exchanges (DEX). Instead of taking place between sellers and buyers, the trading and exchanging activities are supported by liquidity pools. For users to transact with non-fungible tokens, BakerySwap functions as a decentralized application with utilities, a launchpad, and an NFT marketplace. Here, I'll go into greater detail regarding its main characteristics:
Launchpad
The BakerySwap Launchpad gives users access to recently released projects on BSC, similar to the MEXC Launchpad. However, BakerySwap Launchpad publishes his NFTs and not other crypto projects. Since the Bakery Swap is a DEX, issuing his NFT using this mechanism is known as an Initial DEX Offering (IDO).
NFT Marketplace
A NFT market is currently available on BakerySwap, which also serves as a DEX and a staking system. Users have access to this market through protocol version two (V2), where they can buy NFTs or mint their own. With the use of a bidding feature built into BakerySwap, NFT producers can modify the terms of the sale to make the procedure more fair.
How to Buy BAKE?
You can buy BAKE on MEXC by the following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “DIE” using the search bar to see the available trading pairs. Take DIE/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of DIE you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy DIE] to confirm your order. You will find the purchased DIE in your Spot Wallet.
