Is bakeryswap a decentralized exchange?

There are a growing number of decentralized exchanges following the automated market maker (AMM) protocol made so famous by Uniswap, and one of the more interesting out there is BakerySwap. This particular AMM doesn’t just support yield farming and swaps, it also has its own NFTs and NFT marketplace.

Why is bakeryswap so popular?

Currently BakerySwap is one of the top DEXs on the Binance Smart Chain, although it is facing increasing competition as more AMMs are choosing the BSC for its lower costs and faster transactions. One of the contributing factors to the popularity of BakerySwap is the fact that it is the very first NFT DeFi platform created on the BSC.

How much does bakeryswap cost?

With BakerySwap, the trading fees are 0.3%. Because there are no order books there are no deposit or withdrawal fees required. However, you will need to pay transaction fees (in BNB) for interacting with the Binance Smart Chain. Mind you, these fees are minimal, especially compared to the likes of the gas fees on the Ethereum network.

Is bakeryswap a validator?

Another exciting addition at BakerySwap is the ability to participate in Ethereum staking. While there’s huge excitement around Ethereum 2.0 and staking ETH, the issue many face is the requirement for a minimum of 32 ETH in order to become a validator. Most people simply can’t afford this large investment.