Good evening Base Community!

We're thrilled to introduce our fantastic project today - BakerySwap, promising to bring exciting developments and innovations to the Base blockchain.

Introducing BakerySwap:

BakerySwap is an all-in-one DeFi platform that provides both AMM and NFT Marketplace solutions in one place. It is built on the Binance Smart Chain (BSC) and is one of the most popular DEXes on the chain.

Website

Twitter

Are you ready to engage with industry leaders as we unravel the exciting possibilities that lie ahead. Let’s rock!

Host:

During this engaging "Base Builder Talk" session, Bakery Swap's experts will take the virtual stage to discuss their journey, innovative solutions, and insights into the multi-chain future of DeFi and NFTs. As the pioneers behind an all-in-one DeFi platform with AMM and NFT marketplace solutions, they'll shed light on their strategy, vision, and the broader implications for the industry.

And our expert today, welcome Mr. Baker to our session. Can you introduce a little bit about yourself to the community?

BakerySwap:

I am Mr. Baker, head chef at bakeryswap and a product manager

Host:

Glad to have you today, Mr. Baker. During this session, I will ask you fews questions. Let’s start with the first one. Can you introduce BakerySwap?

BakerySwap:

- Bakery swap is an all-in-one DeFi platform.

- It provides AMM and NFT marketplace solutions.

Base fits:

Host:

Thanks Mr Head for the introduction! I'm genuinely impressed by the all-in-one DeFi platform you've put together, especially with the AMM and NFT marketplace solutions. It's an exciting combination that could truly revolutionize the space.

I would love to learn more about how your project fits into the Base Ecosystem and its vision?

BakerySwap:

We believe that the future will be multi-chain and the base ecosystem is our first step in this strategy.

Base is a secure, low-cost, builder-friendly Ethereum L2, incubated by Coinbase and built to bring the next billion users onchain.

Embracing Base Chain allows us to widen the scope of our services and invite a new wave of participants into our community. Our initial move started with the launch of an AMM exchange, a Launchpad, and our NFTSwap on Base Chain. We believe this integration opens up new possibilities for BakerySwap.

Launch on Base

Host:

Thank you for sharing such an insightful perspective on Bakery Swap's strategic approach. It's evident that you're paving the way for the future of decentralized finance by embracing the multi-chain concept. The Base foundation truly highlights your commitment to scalability and accessibility. So why did you decide to launch first on the Base chain?

BakerySwap:

Coinbase has a dominant position in the crypto retail market. Therefore, we believe that Basechain will be a good place for new audiences to approach and experiment with Defi.

We think there may be a similar effect to what happened at the end of 2020 with the launch of BNB Chain, where we were also from day one.

We could not miss this opportunity with base chain, and help provide it with innovative Defi and NFT services Although now it is still an emerging network, it has already reached 200 million Total Value Bridget and we want to grow together.

Market state

Host:

So, what are your thoughts on the current state of the DeFi and NFT market?

BakerySwap:

• NFTs have not been fully integrated into the DeFi system

• Poor trading systems have kept traditional DeFi users away from NFT markets

• NFTs have struggled to implement key functionalities of the DeFI world such as: staking, lending, easy trading, consistent liquidity etc

• NFTs have always needed more functional use cases to incentivise DeFi users and mass adoption

• Liquidity issues have been most prominent in these NFT adoption prevention

Upgrade plan

Host:

Absolutely, you've hit on some critical points regarding the current state of the DeFi and NFT markets. The challenges you've highlighted, such as the lack of seamless trading systems and the absence of key functionalities like staking and lending, have indeed hindered the full integration of NFTs with DeFi.

And I totally agree with you about the need for functional use cases that can incentivize DeFi users to dive into the NFT world. Mass adoption hinges on creating real value and utility, which is something both industries are keen on achieving.

Your insights shed light on the areas that need attention and development for a more integrated and flourishing DeFi-NFT ecosystem. Back with Bakery Swap, we've heard about Bakery's upgrade recently, could you please outline Bakery's overall strategic upgrade plan?

BakerySwap:

Bakery's upgrade plan is a four part plan

1 - Multichain support - The swap, exchange and launchpad have recently added support for Base Chain and launched the first project (punk X) on Base, with great performance (3x increase) - Bakery already supports BSC and Base-chain and will be working to support other chains and networks: Eth, Aribitrum, and others. Different projects may support different chains and tokens

2 - NFTSwap - A key product in the Bakery upgrade plan - Innovative NFT -> token swap, streamlining the user experience and creating a solution for NFT liquidity issues that plague other NFT marketplaces - An AMM solution for NFTs

3 - Creator platform - Leveraging AIGC tech for creators, users and nft projects to create easier, faster and better than ever before - Community building tools, and supports for original and derivative artworks creation - Artist and developer tools

4 - Bakery incubator - A support system for artists, developers, and quality teams and projects - Marketing, fundraising, promotion, liquidity solutions and much more - Empowering strong creating teams

NFTSwap

Host:

So you have a four part plan, including multichain support, NFTSwap, Creator Platform and Bakery Incubator, right? We're interested in knowing more about the NFTSwap, could you provide more details about it?

BakerySwap:

- The key functionality of the new NFTSwap is mapping NFTs to tokens, so that users can trade them with far greater ease

- The end result is a system that allows for immediate trading of NFTs. Allowing them to be bought, sold and traded in the same way the tokens can be traded using AMMs

Trading Process

Host:

Could you walk us through the trading process for a user?

Baker Swap:

- The user experience is that the user simply buys an nft with the required token and immediately receives the NFT that has been mapped to the token of that projects choosing

- The technical process that allows for this goes as follows

• The 'common' token is provided from the user for purchase of the nft

• This 'common' token is paired with the bToken (the project token) in LP pairings, so that the trading is readily available

• The conversion protocol then exchanges the “common' token for the bToken, using traditional AMM methods and the LPs

• The bTokens are then locked using the conversion contract and the NFT is transferred to the user (in a ratio of bToken : NFT that is pre-set by the project)

• To exchange back to the 'common' token, the process is the same, just in reverse

bToken work

Host:

So, how does the bToken work within the system?

BakerySwap:

- The bToken is converted to an NFT at a fixed ratio

- Within the conversion protocol and conversion contract there is a ability to add a royalty mechanism or a burn mechanism (to create a deflationary model)

- The bTokens can be paired with any other Common tokens in various liquidity pools, allowing for easy purchase of the projects NFTs

- This allows for many different DeFi mechanisms to be used on the NFTs, bTokens, and bToken LPs, creating opportunities for lending, staking, trading, and listing on various exchanges

Royalty Fee

Host:

Can you explain how the royalty fee is structured and operates?

BakerySwap:

- Projects have the option to add a royalty fee or deflationary model into the conversion protocol and conversion contract.

- This will automatically transfer a percentage of bTokens from each transaction to a predetermined project wallet for royalty, or burn a percentage of bToken from each transaction for a deflationary mechanism

Launch on Bakery

Host:

How could I launch my project on Bakery NFTSwap?

BakerySwap:

- Projects interested in launching on bakery swap can reach out to the bakery team via telegram, twitter DMs or through the project submission form on the bakery site (coming soon)

- Fully formed projects can collaborate with bakery swap for launching on the platform and projects that need help with creative development, community building, marketing, and other areas can enquire about bakery's incubator program

Community

Host:

Cant’t wait to on board on Bakery NFTSwap. How do you involve and encourage community members to actively participate and contribute to your project's growth?

BakerySwap:

- We can aid in the promotional and marketing aspects of a project launch, but we encourage projects to build their own communities and markets.

- We can provide tools to aid in community building, such as helping to create airdrop promotions, social media activities, and cross-promotional arrangements with the bakery site, socials, and other partners

Partnership

Host:

Last question, partnerships can drive growth, too. Are there any notable partnerships or collaborations your project has already established or is planning to establish within the Base Ecosystem?

BakerySwap:

We have established tons of partnerships with major players in the industry, such as major exchanges, many web3/NFT/game projects, influencers, funds, etc.

Ending

Host:

Thanks for your answer. We are all looking for more achievements from you and hope that we can have more collaboration in the future.

Do you have anything to say, Mr. Baker?

BakerySwap:

- We are very excited to be developing, collaborating, and innovating on Base Chain and see that the opportunities for growth within this ecosystem are limitless

- We hope to once again be an innovator and leader, providing new tech advances, unparalleled user and project support, and strong and resilient community growth now and into the future

Base Daily

As we wrap up this insightful "Base Builder Talk" session with Bakery Swap, we want to extend our heartfelt gratitude to the entire community for joining us today. Your enthusiasm and engagement have truly made this session an enriching experience. A big shoutout to our expert - Mr.Baker from Bakery Swap for sharing his valuable insights, vision, and expertise with us. Your dedication to shaping the future of DeFi and NFTs and advancing the Base Blockchain Ecosystem is inspiring.

Remember, the conversation doesn't end here. Continue to explore the exciting realms of blockchain, and feel free to keep the discussion going on our platform and social channels.

Thank you once again for being a part of this session. Keep building, innovating, and embracing the possibilities that lie ahead. Here's to a future of boundless opportunities and collaboration!

🎉 Stay tuned for more exciting events and discussions coming your way.