Baked Beans Miner is the main project of the BakeHouse ecosystem that aims to offer passive earning opportunities to crypto users. It claims to provide a well-structured tax and rewards balance. Currently, the project offers a daily return of up to 8%, 12% referral bonus, and 3% Dev fees on withdrawals and deposits. It is based on the BNB Chain network.
Access Baked Beans Miner
To use the Baked Beans Miner dApp, visit their website. The landing page looks like this. We will explain the different fields appearing on the landing page later. First, we need to connect our wallets.
To work with the platform, users need to connect their wallets.
In this case, we will connect using our Metamask wallet. Note that the application is in BNB Chain. Also, users must hold some BNB in their wallets to pay for the network transactions fee.
How To Bake Beans
Once you connect your wallet, the page starts displaying the following details:
- Contract- Total amount of BNB locked in the contract
- Wallet- Your wallet balance (BNB balance)
- Your Beans- Beans acquired by you (currently zero as we have not deposited anything now)
Enter the amount of BNB coin you wish to deposit into the contract and click on Bake Beans. Then, this will generate a Metamask transaction that you need to confirm. Once the transaction is done, you will get some Beans (see the below screenshot).
The average daily ROI is 5-6% and it can go up to 8%. Now, let’s see its main features:
- Your Beans- Generic term for Beans Smart contract miners. Shows the amount that users have acquired after depositing BNB into the protocol. These Beans do not have any fixed price. The Beans/BNB price fluctuates and it depends upon the TVL locked in the contract.
- Baked Beans- The process of depositing BNB. Users need to pay the gas charges and a 3% dev fee upon deposit and withdrawal.
- Re-bake- Process of reinvesting your accumulated rewards. The minimum re-bake is 0.01 BNB. If you wish to do more deposits (BNB), then the deposit amount along with the earned reward is reinvested, and your Beans value will increase.
- Eat Beans- Process of withdrawing BNB accumulated as a reward. BNB is withdrawn to your connected wallet.
- Your Reward- Amount of BNB earned as a reward over time from your Beans.
Referral System in Baked Beans
On the other hand, users can check their referral links from the bottom of the page. You can share it with other users and earn a referral bonus. When a user adds BNB by using your referral link, you will earn 12% of their Beans purchase. Therefore, this value will be deposited in the “My Rewards” section.
More About Baked Beans
- The Baked Beans miner is a locked reward pool. That means the initial BNB amount deposited by the users is locked in the smart contract forever. However, you may recover that amount (or even more) over time by harvesting your rewards.
- The average daily return is 5-6% (up to 8%), and it depends upon various factors like eating habits, TVL fluctuation, deposits, and your re-baking timing.
- The project has recommended following a 6:1 rule, i.e you re-bake for 6 days and eat 1 day in a week. Therefore, this method will compound your investment and will help in getting back your initial investment in 6-8 weeks.
- Users can re-bake as many times in a day as they wish. There are no restrictions. However, they need to pay the network fee every time they re-bake.
- The project uses an anti-whale mechanism.
- At last, Baked Beans Miner is a high-risk project. As a result, be cautious. Invest the amount that you can afford to lose.
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Hi rima, I have just joined the baked beans contract. I have my baked beans and no rewards as yet. It has been about 4 hours. Do I have to rebake to start the compounding rewards effect after initially buying my beans. Thanks