In the previous part of this series, we explained how you can swap your BEP-20 tokens and add liquidity into the BakerySwap pools. In this article, we will explore how you can stake your LP tokens and earn more rewards.
Besides detailing BakerySwap farming, this article will also provide details on the platform’s NFT features and launchpad.
If you go to the Earning section, you will find many tabs, each with a different token offering as a reward and different values to stake.
From the Earn BAKE tab, you can see the pools where you can stake your different BakerySwap liquidity pool tokens and earn BAKE as a reward.
The steps to participate in any pool are quite simple:
- First, choose the pool where you wish to participate.
- Generate a liquidity pool token by adding liquidity of the token pair (see Add Liquidity section to know how to add liquidity into a pool).
- Go to the Earn BAKE tab again and select the pool. Next, approve the LP token and stake the amount of LP token into the pool.
The token earned as a reward will be displayed in the BAKE Earned section that you can harvest.
You can unstake your BLP tokens at any time from the pool and withdraw all the staked amounts along with the rewards earned.
From the BAKE Staking tab, you will find a pool where you can stake BAKE and earn different tokens as a reward.
At the time of writing this article, three different pools are available where you can stake your BAKE tokens and earn some different tokens with a max APY of 7.57%.
The staking process is similar to the EARN BAKE step. Select your pool first and approve the token spending. Once you approve, the staking option will become available, and you will be able to stake any amount of the desired token/pool token that you want.
Earned rewards will be displayed in the Token Earned field. If you do not withdraw/harvest your reward periodically, it will be withdrawn completely when you choose to unstake your tokens.
This section is pretty interesting and unique. Here, users can stake their tokens and earn their respective NFTs. However, there is no NFT pool currently active in this section.
Different NFT pools have different terms and conditions. The NFT pool has categorized the items into a different design with a fixed supply in each section. The utility of the NFT will be decided by platform users through a voting system.
At NFT Staking, you can stake the NFT that you have earned from the EARN NFT section and receive the platform token or the BAKE token as a reward.
BakerySwap offers one of the most innovative NFT marketplaces on the Binance Smart Chain. The page lists the artwork from various talented NFT artists that belong to different NFT markets and categories.
Users can vote for their favorite artwork. The more votes an artwork gets, the higher it will rank. Thus, pushing and promoting the work to the homepage. The total amount of BAKE voted is divided equally between the NFT owner and the BakerySwap platform.
However, the voting function applies to only those NFT markets where minting is possible. BSC Artists, LoveNFT, SafeNFT, Musk & Doge, 1inch & BAKE, and BAKE & Banana fall in that category.
How to Mint Artwork
BakerySwap allows the artist to tokenize the original artwork that they can sell and earn an income.
Users can mint NFTs in the NFT market that supports minting (BSC Artists, LoveNFT, SafeNFT, Musk & Doge, 1inch & BAKE, and BAKE & Banana). You will find the Mint Artworks option is visible to only these markets.
The minting process is quite simple.
Select the NFT Market and then click on Mint Artworks.
A page will pop up where you need to fill in some mandatory details about your artwork:
- Artwork type (picture, gif, audio, video)
- Artwork name
- Artist name
- Portfolio link (personal website, Twitter, Telegram link)
- Brief introduction about the artwork
- Upload your original artwork (size <10Megabytes)
Once you fill in all the above details, you can click on the Mint button. BakerySwap charges 0.01 BNB to mint an NFT.
The Bakery Gallery is a curated platform that helps talented NFT artists to showcase their exclusive artwork. Bakery Gallery is the section for verified artists, offering users and fans access to artwork.
Click on Bakery Gallery, and it will redirect you to this page.
To use the platform, users are required to connect their MetaMask wallets.
Once your wallet is connected, you can drill down a little and find the Bakery Gallery full of artworks from various artists. The cost (mentioned in the BAKE token) of each artwork is also mentioned below each NFT.
Explore the gallery. You can sort the NFTs based on price or voting. You can filter items depending upon the type of the NFT (picture, gif, video, and audio) or artist name.
Select the NFT that you wish to buy.
Now click on Approve NFT Marketplace button. A MetaMask transaction is generated that you need to confirm.
Once confirmed, you will find a buy and a bidding button will appear on the NFT.
If you are happy with the cost of the NFT, you can directly go and buy it.
Otherwise, hit the Bidding button and propose an amount at which you wish to buy the NFT. The bid offers will go to the seller, who will decide whether he/she is ready to sell the product for the bid amount or not.
BakerySwap has a launchpad platform that hosts IDOs. You can find new projects launching their tokens and raising funds through them. The launchpad gives you early access to the crypto projects and the ability to participate in their presale round. Currently, no IDOs are in an active state.
The Gamification section includes different gaming applications on BakerySwap like Poker BlindBox, Barking Shop, Crypto Doggy Shop, Rare Car Collection, Game Box, Soccer, and Combo Meals.
You can participate and acquire limited edition NFTs. Like for Poker BlindBox, you can play and get a random Pet Poker Card as an NFT. You can use this NFT to farm BAKE or even trade it on the marketplace. When you choose to burn the Pet Poker Card, you can get an exclusive limited edition of the standard 52-card deck.
BakerySwap allows the users to participate in ETH 2.0 by staking liquidity pool tokens in the supported pools.
BETH – new wrapped token issued by Binance which is 1:1 pegged to ETH.
BUSD (Binance USD) – USD-backed stablecoin by Binance.
BakerySwap has also collaborated with Ankr Staking to use its synthetic derivative asset aETH in a farming pool (AETH-BETH and AETH-ETH) that will support ETH2.0 staking and will offer ANKR and ONX tokens as a reward.
Below are the pools currently available that offer the ETH 2.0 staking:
You can stake your $ETH at Binance to get the BETH token which is easily tradable on BakerySwap.
To get the BLP tokens, go to the Add Liquidity section and provide liquidity into any of the above-mentioned pools. You will get the BLP token once the process is successful.
Now, go to the ETH 2.0 and stake your BLP here. There is no minimum token amount required for participating in any pool.
BakerySwap is one of the advanced AMM DEXes built on the Binance Smart Chain. The platform allows the users to exchange tokens, provide liquidity, farm, mint NFTs, use an NFT marketplace, stake NFTs, IDOs, gaming, and enjoy ETH 2.0 staking all in a single interface with the faster speed and low transaction cost supported by the underlying Binance Smart Chain network. A launchpad for NFTs and tokens, along with minting NFTs at such a low cost, are what makes the platform popular among rising and talented NFT artists. All these features make the BakerySwap platform desirable among users.
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