The Noob’s FAQ to the Bakery

Current as of November 12, 2020

Introductory Facts

What is Bakery Swap?

Bakery swap is an AMM (Automated Market Maker) which is a type of decentralized exchange (DEX) protocol running in Binance smart chain that relies on a mathematical formula to price assets, instead of using an order book like a traditional exchange.

Why is Bakery on Binance Smart Chain (BSC) ?

Binance Smart Chain allows for faster transactions using very low gas fees compared to Ethereum’s current gas fee.

What is Bakery’s vision?

Bakery wants to be the one-stop shop for NFTs on BSC. You can read more about the roadmap here: https://twitter.com/bakery_swap/status/1324368504322248704?s=21

What is the total volume of bake?

The initial total supply of BAKE is 731,745,000, out of which more than 75% are burned to get 144,606,918 tokens.

What is the market capitalization of the project?

As it stands today on CoinMarket Cap, the market cap is $1,029,717 USD

What are some of the deflationary mechanisms ?

Some of the deflationary measures including burning BAKE tokens, burning when purchasing items on the NFT supermarket, and other measures.

Why is deflation necessary?

To insure that there are is finite and limited amount of tokens available. In economics, if there is a scarcity of something, the value of that something increases over time. The price of BAKE is to elevate over time.

How does it impact my returns?

Good question. You will notice that returns or yields over time may decrease. There’s a few reasons for that – one is the number of Bakes per blocks lower over time, and the other is increased burn rates or any other deflationary measures.

But this is no good! It means I get less Bake tokens in the long run!

Having said that, what this also means is that each Bake token becomes more valuable. So yes even you get less tokens than before, each token appreciates in value because it is more scarce, and thus you end up better off than before.

What do all the tabs mean?

Great question! Here’s the following:

Home: where most of the basic facts are
The Swap : where you can swap tokens into Bake (or out)

The Earning tab: is where you earn Bake

NFT Supermarket: The supermarket is a secondary market where NFT can be bought using bake. 

Launchpad: Upcoming GameFi projects

Is this a rug pull?

Nope. The team has been working on this project for more than 50 days, and if they wanted to rug pull they would have done it earlier. See here for some of the things that have been accomplished in 50 days

Is this project audited?

Yes – this project is audited by the Certik, one of the leading code audit firms. You can read the audit report here. This project was one of the first to be audited on the BSC, to give credibility to the team.

Is this project listed?

Yes – this project is listed on Binance, one of the first BSC companies to accomplish this, and Hotbit.

Is there any other support?

Binance supports through the $100mn accelerator fund, and Bakery was one of the first to receive this.

Who is the team?

The developers of bakeryswap wants to be anonymous, but there is Big Baker and Tommy on Telegram.

What are the official resources?

Homepage: https://bakeryswap.org/

Medium: https:// https://medium.com/@BakerySwap

Twitter: https://twitter.com/bakery_swap

Telegram English Group: https://t.me/bakeryswap

GitHub: https://github.com/BakeryProject

Buying on Bakery Swap

Where do I start?

You can either do this on Trust Wallet, Math Wallet, or Metamask.

Metamask on desktop is through here. You have to set up Metamask on the Chrome browser, then go through the steps.

Trustwallet on mobile you can go through here

Math Wallet: no content now but upcoming!

And then? 

First, get some Bake tokens!

You can buy either on exchanges like Binance or Hotbit or swap on Bakeryswap.org. We recommend the latter as the fees are better and it’s more direct on the platform.

Where do I go next?

Second, it’s important to take your Bake and make some money on it! So first, get your Bake token and stake your Bake and make some money there.

Go to Earning > Bread > and then hit the Stake button!

If you’re a bit more advanced, go and join the other LP pools with BNB or BUSD. For more extensive guidance, we will draft other guidance later.

Ok – I can take the next step (ie. I want to make some money and get more!)

Then go to the NFT Supermarket! Your next task is to buy something because that’s what Bake is known for.

Ok – what can I buy?

You can buy either a few things right now, either digital artwork, battlepets eggs, or combos.

Digital Artworks:

Digital artworks specifics:

  • Title
    • This one is called Role Play – Peking Opera Masks
  • Artist
    • The studio that created this work
  • Edition
    • What number this piece is out of a limited set
  • Price:
    • The Bake price to buy

Pet Eggs:

  • At precisely at October 29, 08:00 UTC, Pet Eggs were allowed trading. This is for the game Battle Pets, and you can find more info here on them https://www.battlepets.finance/#/
  • Information here: https://twitter.com/bakery_swap/status/1321218493258305536?s=20
  • There is an official PET guidance on buying on BakerySwap here
  • As always NFT prices are set not by Bakery, but by sellers. Bakery or BattlePet holds no responsibility in the buying or selling of these products
  • You can check out Egg transactions here:

PET NFT Specifics:

  • Animal
    • There are three versions: kitten, rabbit, or puppy.
  • Price
    • The price of the Egg, in Bake
  • The unique ID of the Battle Pet
  • Battle Power
    • The power that was set up on purchase of the NFT at the IDO and how mouch power your pet has when playing the game. At IDO prices, 1 BUSD = 3 power, so to determine the cost of the NFT just divide its power by 3 to get the USD equivalent

Bakery Combos:

  • At this moment, you are unable to make any more combos, and can only buy Combos
  • All Combo prices are set not by Bakery, but by sellers. Bakery holds no responsibility in the buying or selling of these products
  • There are a few benefits of owning Combos, including all the following:
    • The ability to sell and resell on the market, and thus make profit
    • Stake the Combo to earn more BAKE
    • Get exclusive Bakery benefits, like free PET
  • You can check out the number of combos outstanding here: https://bscscan.com/token/0xa7463c3163962b12aeb623147c2043bb54834962

Combo Specifics:

  • Quality of the Combo
    • There are four options: Basic, Regular, Luxury, and Supreme. This simply means how many BAKE tokens it originally took to create the combo.
    • Basic was 10K-20K, Regular was 20K-50K, Luxury was 50K-100K, Supreme was more than 100K
  • Decompose to get:
    • This is the base price of the combo, of which if you choose not to keep your combo and wanted to decompose (which means to destroy it), the number of BAKEs you will hold
    • This also means the minimum guaranteed value of the Combo. You could possibly get better prices when re-selling on the supermarket.
  • Staking power:
    • This refers to the relative power this product has over other products. When selecting a combo, it is better to choose something with more staking power, because it means you are able to generate higher returns over lesser staking power products.
    • Staking power = a * b, where b is a random number and a is your true staking power
  • ROI
    • This is the return expected from your investment in this product, which is calculated as a percentage of the staking power 
    • ROI depends on strength in the NFT Combo pool.  The equation is (your staking power) / Total staking pool
  • Price: How much this Combo costs

Specific User Thoughts:

  • Stake Power
    • It’s important if you intend to keep that Combo for a long time for Staking. But if it is less than 1 month, it would be better if the Decompose is high. Because it can be destroy it to get back to Bake immediately.

Other NFTs:

  • Nothing here – so just wait!

Other sources  

Binance Academy’s Guide to the Bakery https://academy.binance.com/en/articles/your-guide-to-bakeryswap?ref=JLI1VBLA&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial

How to Use Bakery Swap to Trade Stake & Yield Farm Using Tokens & Non Fungible tokens 

All the NFTs on BSC scan

* All BSC NFTS: https://bscscan.com/tokens-nft

* Bake NFTs: https://bscscan.com/token/0xa7463c3163962b12aeb623147c2043bb54834962

* PET Egg NFTS: https://bscscan.com/token/0x8a3acae3cd954fede1b46a6cc79f9189a6c79c56

* PET Weapon NFT: https://bscscan.com/token/0x3664d30a612824617e3cf6935d6c762c8b476eda#balances

* BCAEX BAKE NFTs: https://bscscan.com/token/0xbc9535ceb418a27027f5cc560440f4a8823cb8bf?a=0x9e3e92a9ac309fc453042c31bf1aee98f7afb7c1

* BCAEX NFTs: https://cn.etherscan.com/token/0x383d66e7e66b388b754a24bc0325f1f6a168548e