What Is Baby Cake (BABY CAKE)?
Baby Cake is a $CAKE reflection token launched on the Binance Smart Chain (BSC). Baby Cake aims to bring DeFi to the masses with its 3-click app. Decentralized finance is a complicated system to enter as it utilizes technologies to remove intermediaries and banks from financial markets. According to the whitepaper, Baby Cake aims to benefit people to start earning passive income for even those who do not know DeFi space.
Being a reflection token, Baby Cake pays dividends in a previously existing token instead of its own. The dividends are paid out in the form of $CAKE. $CAKE is a premier BSC Swap on the market.
There is a 10% tax, and an additional 1% fee is applied to all sales to encourage holding and lessen whale manipulation. The tokenomics may change as per market conditions.
A static reward system is also implied wherein the 10% tax is split as follows:
3% is redistributed to holders.
3% is used to fuel the liquidity pool. (A liquidity pool is a pool of currencies locked in a smart contract that enables trade between the tokens on a decentralized exchange (DEX)).
4% is allocated to the Marketing wallet.
To seek to earn dividends from the transactions, holders need to hold the Baby Cake in their wallet and earn passive income in $CAKE. The auto-claim feature allows the CAKE rewards to be automatically sent to the holder's wallet. This dividend depends on the volume and the proportion the Baby Cake holders hold in their wallets.
Baby Cake's contract is certified by Certik, a famous blockchain security firm that is considered a standard of contract security.
As per the whitepaper, the BabyCake contract seeks to include the following details:
All $Cake tokens which the contract gains are split proportionally between the token holders.
A minimum of 200,000 BabyCake token balance is required to be held to receive dividends.
Baby Cake contract keeps the trace of all dividends because of every holder in the list.
Every transaction operates a certain number of users from the list.
The number of holders handled by each transaction is variable and determined by transaction size.
The dividends that the holder receives from the queue is based on their position in the list.
It is a fully automated and fair system.
The liquidity pool of BabyCake has been locked with DxLock for more than one year. DxLock is a cross-chain decentralized token & LP locker available for ETH & BSC.
History of BabyCake (BABYCAKE)
Baby Cake was launched on PancakeSwap Exchange on July 17, 2021. There was no presale and no ICO; thus, everyone could purchase Baby Cake from the launch.
"Monk" is the founder of Baby Cake who doxed himself by the video when BabyCake hit a 50 million market cap. He further doxed in October 2021 on the declaration of BabyCake being a platinum sponsor at the Dubai Crypto Expo Conference and Global DeFi Investment Summit.
Frank is the newly appointed CEO who is also fully doxed.
