What is the issuance and circulation of BAKE coins?

BAKE coins, initially issued through an ICO in 2020, serve as governance tokens for the BakerySwap decentralized exchange, enabling holders to participate in decision-making and earning rewards.

Oct 27, 2024 at 09:48 am

Issuance and Circulation of BAKE Coins1. Initial Coin Offering (ICO)

BAKE coins were first issued through an ICO held in June 2020.
The ICO raised approximately $16.3 million.
1 billion BAKE coins were created at the time of the ICO, with 75% being distributed to ICO participants.

2. Tokenomics

The total supply of BAKE coins is capped at 1 billion.
The distribution of BAKE coins is as follows:
- ICO: 75% (750 million)
- Team and advisors: 10% (100 million)
- Reserve: 15% (150 million)

3. Circulation

As of October 2023, approximately 270 million BAKE coins (27%) are in circulation.
The remaining 73% of BAKE coins are held by the team, advisors, and the reserve fund.

4. Use Cases

BAKE coins are the governance tokens of the BakerySwap decentralized exchange (DEX).
BAKE holders can use their tokens to propose and vote on changes to the DEX's protocol.
BAKE coins can also be used to pay for transaction fees on BakerySwap.
BAKE coins can be staked to earn rewards in the form of fees collected by the DEX.

5. Market Performance

The price of BAKE has fluctuated significantly since its launch.
The all-time high price of BAKE was $23.02, reached in April 2021.
The current price of BAKE is $1.74 (as of October 2023).
BAKE is ranked as the 151st largest cryptocurrency by market capitalization.

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