CoinMarketCap takes a deep dive into BABYCAKE, a unique memecoin project that offers rewards to its holders.
Baby Cake is a project that enables its holders to earn CAKE regularly as a source of passive income through reflection. Reflection is a popular earning mechanism among memecoins, like SafeMoon and Shiba Inu. It takes a portion of the fees from every transaction and redistributes the tokens from the fees back to holders. The Baby Cake website advertises that the token holders will earn passive income in the form of CAKE, every hour.
Baby Cake is a part of a growing DeFi ecosystem that enables crypto holders to earn interest on their tokens in more ways. The project is focused on following a roadmap to create more value for its users. Its current strategy for growth includes the site launch, influencer marketing push, listing on CoinMarketCap, a $100 million market cap, and huge social media community growth. Baby Cake stands somewhere between being a meme token and an earnings token. Its holders will be able to take advantage of their earnings in the valuable CAKE token (now nearly $15) while also enjoying a rise in the price of the BABYCAKE token (now at $0.0002692).
Who Created Baby Cake?
Baby Cake has just launched in 2021 where only one of its co-founders has been doxxed, named Monk. It is just beginning the process of growing its user base and building out the platform to include more benefits. $BABYCAKE is the token symbol of this project.
When Will BABYCAKE Hit 1 Cent?
As of late July 2021, BABYCAKE’s price is hovering around $0.0002355. The total supply of this token is lower than other meme currencies, like Shiba Inu, as memecoins usually have a supply in the trillions or quadrillions. This means that Baby Cake doesn’t have to travel as far as other coins belonging to its category to hit the 1 cent marker. Since Baby Cake will offer tangible value in the form of CAKE yields, it should become a popular project, especially among those who are already using the PancakeSwap platform.
It is not possible to know where the project will go in terms of value, but the community will do its best to provide exponential growth and returns. Like many other protocols and projects, Baby Cake has learned from the past and implemented anti-pump-and-dump schemes. That includes a rejection of any transaction selling more than 0.2% of the total Baby Cake supply.
Baby Cake Price
There is a growing number of “baby” coins, but the BABYCAKE token is not to be confused with BabySwap (BABY) or the cake-themed CheesecakeSwap Token (CCAKE). The BABYCAKE token is now worth $0.0002355. This followed an all-time-high (ATH) of the digital currency earlier in July 2021 of around $0.00099.
How Does Baby Cake Work?
The project has been designed to reward BABYCAKE holders with the CAKE token every 60 minutes, automatically. The project took SafeMoon’s strategy as inspiration to set up a system that rewards users and grows the platform. Baby Cake bills itself as the next evolution in cryptos.
Baby Cake uses a yield generating contract on the Binance Smart Chain where holders are rewarded with CAKE instead of the native BABYCAKE. From every transaction on the Baby Cake network, 15% of CAKE is taken as fees to reward users. 7% of tokens are redistributed among holders as rewards, 3% is given to fund the liquidity pool exchange growth, and 5% is allocated to coin buyback and marketing purposes.
Simply, Baby Cake has a unique mechanism that rewards users every hour with CAKE proportional to the amount of BABYCAKE tokens they hold.
The end goal of the Baby Cake roadmap is to become a permanent part of the already robust PancakeSwap ecosystem by offering attractive CAKE rewards. The more users the platform accrues, the more the BABYCAKE tokens will be worth to both the founding team and token hodlers.
What Makes Baby Cake Unique?
Baby Cake provides a first-of-its-kind token that takes token reflection and yields rewards a step further in both the DeFi and meme token landscape. It is the first token to reflect CAKE rewards back to users, so this could be a very popular investment for the increasingly popular PancakeSwap platform’s users.
The Baby Cake project itself is built on the Binance Smart Chain, therefore, it can offer the benefits of its low fees and high throughput values. The BSC is becoming a very popular choice for projects that need to maximize transaction capability and speed.
In the future, the BABYCAKE developers want to add more functionality in terms of features. The platform plans on adding a better user dashboard, an augmented reality gaming app, a BabyCakeSwap exchange, and an NFT platform.
How Does Baby Cake Stack Up?
Baby Cake is carving out a relatively unique space for itself in the DeFi ecosystem. With so many crypto investors and enthusiasts looking for new ways to earn on their holdings, the project is promising in terms of value. In the upcoming months, we will see if Baby Cake can make strong headway on its roadmap and attract even more users to earn CAKE rewards.
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