Project Review: BakeryTools

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Overview

  • Name: BakeryTools
  • Token ticker: TBAKE
  • Website: https://bakerytools.io/
  • Hard Cap: 496,800 USD
  • Pre-Sale: CLOSED – 28th of April 2021. Hard Cap reached.
  • Whitelist: /
  • KYC: /
  • Jurisdiction: 
  • Token Type: Binance Smart Chain
  • Countries Excluded: /
  • Sale Date: CLOSED – 1st of May 2021. Hard Cap reached
  • Token Distribution: (35%) Public Sale (25%) Private Sale (20%) Liquidity (10%) Team and Advisors (10%) Marketing fund

Company purpose and problem solving ideas

Bakerytools is a central hub & trading tool for Binance chain pairs & pool explorer and a hotspot for Private and Pre-sale listings.

An integral part of the crypto space for projects in raising funds has been through private and presale funds. However many projects find it difficult to broadcast their private sale to a broad and devoted audience. BakeryTools’s fully owned Hotspot will provide exposure to verified projects listed on their platform. This exposure will come with the form of listings of vetted projects, as well as the advertising of curated projects (ADS) on their Hotspot platform. These subscription ADS will allow projects the opportunity to reach more elevated awareness.
 
The BakeryTool Hotspot is a place for people who are interested in the Private and Pre-Sale markets. It is a platform for projects to broadcast their own Private and Pre-Sale to a dedicated audience. Through BakeryTools, users can choose which projects they want to support, helping project owners raise funds.

Highlights

  • Both Private Sale and Public sale were oversubscribed, and sold out in a few hours. The project reached its Hard Cap in a very short time. A recent tweet by the official BakeryTools account indicated that there are currently 8000 holders of $TBAKE
  • The $TBAKE token is now listed on the FINEXBOX, ProBit and Bithumb exchanges.
    The project is also listed on coinmarket cap, and users can now monitor the performance of the $TBAKE Token.
  • Now that the Sale has been successfully completed, the team will work on reviewing projects that will be submitted to their hotspot. 

Token Usage

  • Analysis of Real-time data connected to Binance Smart Chain bakery and pancake swap. Support for Ethereum and Pokadot is planned by the team
  • BakeryTools allows you to save your favorite trading pairs at the top, and be notified of any significant changes to the pair or if your transaction was completed. 
  • The platform will provide its users with information on upcoming Private Sales and Pre-Sales. Projects will apply and only when they are verified will they be placed on the Upcoming Hotspot. This will help the user avoid investing in a Scam. 

Token Distribution

  • (35%) Public Sale – No vesting period
  • (25%) Private Sale – 50% initial unlock, followed by 50% after 1 month
  • (20%) Liquidity – Tokens are locked
  • (10%) Team – 10% Initial unlock then 10% unlock every three months. 
  • (10%) Marketing – 20% Initial unlock then 10% unlock every three months. 

Total supply of $TBAKE: 95M

Update: It is also important to note that the Team In anticipation of the listing of the $TBAKE token to the FINEXBOX, Bithumb and ProBit exchanges, the founding team also burned 5% of their tokens pool. Current Token supply is 95M $TBAKE

Notable partnerships

BakeryTools is a part of Binance Smart Chain (BSC) landscape. BSC is a blockchain network built for running smart contract-based applications. Binance’s native Binance Chain (BC) runs alongside BSC, allowing users to take advantage of the high transaction capacity of BC as well as the smart contract features of BSC.

The BSC platform is designed to facilitate developers’ creation of decentralized applications (DApps), allowing users to manage digital assets across chains with low latency, high capacity, and low fees. Despite Ethereum’s congestion and gas fee issues, Binance Smart Chain has seen considerable growth so far in early 2021. As a result, developers and staking investors have started looking for alternatives to Ethereum.

Advantages

  • Excellent Hype: The project has sold exceptionally well, reaching its hard cap in a very short time both in its Pre-Sale and its Public Sale phases. 
  • Early listings on crypto exchanges: Following its success during both sales, the $TBAKE token has been quickly listed to reputable crypto exchanges allowing users to carry on that momentum. This also demonstrates the excellent execution of the team, and a focus dedicated to rewards holders of the token.   
  • They are already reviewing and vetting first-time projects for listing on the Hotspot: Shortly after closing their sale and listing on the Hotspot, the team informed their Twitter followers they are currently reviewing and vetting the first-time projects for listing on their Hotspot.

Potential Drawbacks

  • Relatively few information on the founding team behind the project and the project itself: Few information is available on the Team. While one can argue that they are letting their results speak for themselves, more transparency on the project would go a long way to attract more users.
  • A cryptic project: Few communication materials are available on the project itself. For a complex venture such as BakeryTools, there are relatively few information accessible, neither on the website nor the whitepaper. A new website is promised soon, we can hope that it will fix this scarcity.
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