Similar to a number of DEXs that have appeared on the market, BakerySwap has also developed and launched a platform token named BAKE. This is also intended to serve trading and administrative activities as well as promote the development of the platform. BakerySwap offers the feature of Farming BAKE tokens to get additional rewards
When you participate in farming, you will receive BLP tokens to represent your contribution to the liquidity pool. When providing liquidity, in addition to rewards, you can also benefit from the fees users pay to use the liquidity pool. Some basic information about BAKE coin is summarized below including:
Symbol: BAKE
Blockchain: BSC
Token standard: BEP20
Total supply: 277,237,400 BAKE
Initial supply: 731,745,000 BAKE tokens
BAKE's initial supply has decreased by nearly 70% after multiple token burns. The total supply of BAKE tokens has the same mechanism as Bitcoin, that is, it gradually decreases over time, specifically here it is 24 years. As you may already know, this is to create scarcity for the token and preserve the value of the token over time.
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