Bakecoin is a decentralized finance experiment built upon the Binance Smart Chain, which is currently the largest cryptocurrency exchange. Bakecoin is soon to create their own Dapp (decentralized application) where they can release a Bakecoin Pandora’s Box NFT (non-fungible token) game.
Bakecoin will use the Smart Contract to create a Pandora Box Game that draws random NFTs from OpenSea, the Bakecoin collection, or Bakecoin tokens as rewards based on a provable fairness probability. OpenSea is a popular decentralized marketplace that allows users to purchase unique digital or physical items from a secure, tradeable marketplace utilizing the power of blockchain technology.
Bakecoin will use these resources for their upcoming Pandora’s Box game. Each draw will utilize 200,000 Bakecoin tokens (50% of which will be destroyed to reduce the circulating supply), and the remaining 50 percent of which will be sold to raise funds for acquiring more valuable NFTs for Bakecoin’s Pandora Box NFT Game.
Much of Bakecoin’s appeal lies in the fact that it’s a DeFi (decentralized finance) system. As such, through the Bakecoin currency and NFTs, they aim to give control and visibility over finances. They’re mostly owned and maintained by their users because their services allow anyone with an internet connection to access financial services.
The Bakecoin team will create its own Dapp for NFTs. So $BakeCoin can be used to draw random NFTs with a value of the goods acquired on OpenSea, BakeryGallery, or the Bakecoin collection. A website with all listed NFTs will display them, and they will be verifiable via blockchain. Bakecoin plans to create its own community Dapp for a community forum, support desk, wallet, and DEX aggregator.
The Bakecoin team’s aim is to create something that people would actually want to use, and they hope that it will be one of the most popular DeFi systems around.