How to use BakerySwap: A step-by-step guide
BakerySwap is the first project on Binance Smart Chain to implement the combination of AMM and NFT. NFT has become a staggering phenomenon in the later half of 2021. The convenience and simplicity in using the NFT Marketplace on BakerySwap have made it the top 1 protocol in the sector.
This article will introduce you to BakerySwap and how to use BakerySwap with its features including swapping, liquidity providing, farming and NFT Marketplace along with many other newly added ones.
BakerySwap Overview
BakerySwap is an AMM following the model of Uniswap, with various additional features, such as:
- NFT Marketplace + Bakery Gallery.
- Launchpad.
- Gamification.
These are the key points that led to BakerySwap’s success.
Preparation for trading on BakerySwap
What are the prerequisites for trading on BakerySwap?
First, users need to download and create an account (optional) on Coin98 Wallet.
Coin98 Mobile Wallet version X is available for download.
Read the detailed instruction on how to use Coin98 Wallet.
Coin98 Extension: Follow these steps to install the Coin98 Extension Wallet on Chrome:
Step 1: Find and select Coin98 Extension Wallet on Chrome Web Store;
Step 2: Click Add to Chrome;
Step 3: A pop-up notification will be displayed on the screen, please read it carefully. To approve, click Add extension.
Step 4: To use the extension, click the extension icon to the right of the address bar. If the Coin98 Extension Wallet shows up in the drop-down menu, it has been installed and enabled successfully.
Create a Binance Smart Chain Wallet on Coin98 Wallet
Before using BakerySwap, users need to create a Binance Smart Chain (BNB) wallet. Users can create a new Binance Smart Chain wallet on Coin98 Wallet or import an existing Binance Smart Chain wallet from other wallets to Coin98 Wallet. Creating a Multi-chain wallet on Coin98 Wallet will also include a Binance Smart Chain sub-wallet.
Preparing BNB as gas fee
BakerySwap uses BNB for gas fee. Therefore, in order to trade on BakerySwap, users must have BNB in their wallets. Users can buy BNB on a centralized exchange such as Binance, FTX, Gate,... and send it to the Binance Smart Chain wallet address on Coin98 Wallet.
How to use BakerySwap with the Coin98 Extension Wallet
Connect the Coin98 Extension Wallet to BakerySwap
Step 1: Go to the BakerySwap website here: https://www.bakeryswap.org/#/home
Step 2: BakerySwap will automatically connect to the Coin98 Extension Wallet. Enter your Coin98 Extension Wallet password if needed.
Ensure that your wallet prioritizes Binance Smart Chain. Open the Coin98 Extension Wallet and change the Web3 Priority if needed.
Swap
Step 1: On the left side of the screen, click Trade and change to the Exchange tab. Select the trading pair and enter the amount you want to swap, then click “Approve”.
Step 2: Check the gas fee and confirm in your Coin98 Extension Wallet.
Step 3: Select “Swap”.
Step 4: Click “Confirm Swap”.
Step 5: Confirm one more time to complete the transaction.
You have successfully swapped on BakerySwap.
Add liquidity
Step 1: On the left side of the screen, change to the Liquidity tab. Click “Add Liquidity”.
Step 2: Select the token pair and choose “Approve”.
Step 3: Check the gas fee and confirm in your Coin98 Extension Wallet.
Step 4: Click “Supply”.
Step 5: Choose “Confirm Supply”.
Step 6: Confirm one more time to complete the transaction.
You have successfully added liquidity to BakerySwap.
Earn
You can stake to earn farming rewards in BakerySwap by following these steps:
Step 1: On the left side of the screen, change to the Earning tab. Find the desired pool and click “Select”. I’ll take the Bread pool as an example.
Step 2: Click “Approve”.
Step 3: Check the gas fee and confirm in your Coin98 Extension Wallet.
Step 4: Click the “+” icon.
Step 5: Enter the number of tokens that you want to deposit. Select “Confirm”.
Step 6: Confirm one more time to complete the transaction.
You have successfully staked to farm on BakerySwap.
NFT marketplace
Users can buy and sell NFTs on BakerySwap NFT Marketplace. You can choose either NFT Marketplace or Bakery Gallery while still maintaining the core functions. I’ll use the NFT Marketplace as an example.
Step 1: On the left side of the screen, change to the NFT Marketplace tab. Click “Approve NFT Marketplace”.
Step 2: Confirm in your Coin98 Extension Wallet.
Step 3: Here you can choose to either bid or buy directly. I’ll try to bid as an example. Click “Bidding”.
Step 4: Enter the amount that you want to bid. Click “Confirm”.
You can also mint your own artworks to put them on sale.
Step 1: Click “Mint Artworks”.
Step 2: Choose the type of artwork that you would like to upload. There are 4 types: Picture, GIF, Video, and Audio.
Step 3: Fill in all the information and then click “Mint”. Confirm in your Coin98 Extension Wallet.
You have successfully participated in the NFT Marketplace.
Launchpad
Currently, all the launchpad events on BakerySwap have ended. You can check them on the left side of the screen, in the Launchpad tab.
Gamification
You can join BakerySwap’s exclusive Gamification events in a limited period of time.
Step 1: On the left side of the screen, change to the Gamification tab. Choose the project that you want to participate in then click “Approve”.
Step 2: Confirm in your Coin98 Extension Wallet. Afterwards, enter the required number of tokens to register.
You have successfully joined a Gamification event.
How to use BakerySwap on the Coin98 Wallet dApp browser
NFT marketplace
At the moment, Coin98 Wallet only supports the NFT Marketplace feature of BakerySwap. More features will be added in the near future, and I will keep you updated about our products.
Step 1:Open the Coin98 Mobile Wallet. Select “Browser” and search “Bake”.
Step 2: Select “Bakery Gallery”.
Step 3: You can find the NFT artwork that you want to buy. Click on that image.
Step 4: Here you can choose to either bid or buy directly. I’ll try to bid as an example. Click “Bidding”.
Step 5: Enter the amount that you want to bid. Click “Bidding” and confirm.
You can also mint your own artworks to put them on sale.
Step 1: Click “Mint Artworks”.
Step 2: Choose the type of artwork that you would like to upload: Picture, GIF, Video, or Audio. Click “Upload Artwork”.
Step 3: Fill in all the information and then click “Mint”. Confirm the transaction.
You have successfully participated in the NFT Marketplace.
Conclusion
And that is all you need to know in order to use BakerySwap. Hopefully, this article can effectively support users in using BakerySwap with the Coin98 Mobile Wallet and the Coin98 Extension Wallet.
If there are any questions, please feel free to comment below or join Coin98 Community for further discussions about Crypto!