Bakery Upgrades: Farming 2.0 and NFT Marketplace 3.0
A year of achievements…
When we ask our users what BakerySwap is, we get amazing replies like innovation, fun, reliability, etc. This means we have built a solid brand during this incredible year, and we have been recognized beyond our core services like the DEX, the NFT Marketplace, the Launchpad or the Gamification area.
This recognition has resulted in the best token performance in 2021, with over 10,000% price growth. The popularity and activeness of our social media brought us into the top 10 of Lunar Crush Social Rankings, directly competing with the most popular tokens. Our 350,000 Twitter followers is an indication of a solid position.
We started as a DEX, but we rapidly became the first player to launch NFT, Financial NFT and even the NFT Marketplace on Binance Smart Chain. We were also the first to launch innovative features like earning NFT by staking a token and NFT staking. Our Marketplace has seen a quick growth with over 1,400,000 transactions and 500,000 mintings so far, and seeing top sales like the $400K NFT Combo transaction back in June.
Our product has attracted cool collectibles like the Maye Musk collection, and more recently the ONEPIECE or Marvel collectible NFTs which has helped to make our brand more solid and attractive to partners. Another strong indication of success is the kind of partnerships we have delivered to our Bakers, with strong players like Binance, TokoCrypto and 1inch.
But, what we have achieved is far from enough…
BakerySwap entered the key DeFi & NFT markets ahead of the Q2 Boom. This has given us a position of advantage in terms of product and team experience, to keep improving and delivering better services to our users. Leading innovation on Binance Smart Chain pays off, and our strategy in the coming months will be based upon this.
Ahead of the market means also ahead of competitors. But we don’t want to forget either about the services that gave us current success. They are our present but also will keep playing a key role in our strategy of attracting new users to the platform: the DEX and the NFT Marketplace.
In this medium we are going to put a little light on the things we are going to improve, so keep reading below if you want to discover how we are going to strengthen our position.
First of all we are going to launch the Farming 2.0 upgrade. Since the initial release of $BAKE will finish soon, we will upgrade the contract to start farming from the reserved pool. This upgrade won’t affect the total supply, but will allow us to keep delivering $BAKE rewards to our pools.
This change will have a neutral outcome for our users, but will require them to unstake from the old pools and then re-stake in the new 2.0 pools.
This structural change is not the only change you can expect. We will introduce more features to make our Farms more competitive like the one-click harvest and with improved UX such as viewing only staked pools.
Farming 2.0 will start on Aug 18 11:00AM UTC
NFT Marketplace 3.0
The NFT Marketplace is one of the jewels of the crown, and will have the changes needed, not only to make us the strongest BSC player, but to compete with our Ethereum peers.
We believe that we are in a better position to achieve a leadership position thanks to our ability to mix DeFi features with NFTs. Something that pure NFT platforms can’t provide. An example of this is NFT staking, and how you can manage it comfortably from a one single platform.
The marketplace will have a new UX experience and restyling that will improve the discoverability of the thousands of unique NFTs that are currently exhibited in our platform.
We expect our marketplace to be a top choice for the best NFT projects and partners, as we will allow multi-coin payment, advanced filtering and searching, especially valuable for NFT collections with complex multi attributes. We will also allow users to create their own collections.
To increase the activity of the Marketplace, we will deliver useful tools for collectors like Top Lists such as top sellers/collectors, popular NFTs or hot auctions.
The above futures will position our product among the best marketplaces, but this isn’t enough. As we stated, we are going to build an edge taking advantage of our battle-tested DeFi skills. So you can expect that we keep progressing in mixing DeFi and NFT: NFT staking and earning from commission fees while listing on the marketplace will be a clear example.
The NFT Marketplace 3.0 will take a few months to fully complete.
From the long run, we are going to deliver a more open and flexible platform for users, partners, and influencers to create, sell, trade, earn, and play in various ways to grow their own community on Bakery.
We will keep developing our vision and make BakerySwap one of the most exciting and vibrant NFT+DeFi platforms.