Don’t let the childish name of this DeFi protocol fool you
In recent weeks BabySwap has become a revelation in the DeFi landscape on Binance Smart Chain, putting its native BABY token on the map. The user base of the DeFi protocol has increased 324% over the past 30 days, highlighting that useful DeFi products can attract an audience despite a slightly silly name.
BabySwap describes itself as a community-focused, supportive Baby Metaverse that combines DeFi and NFT elements. The platform houses an automated market maker (AMM), but also an NFT collection and GameFi elements. At the center of all BabySwap products we find the native BABY token.
Opening BabySwap Finance might initially give you the idea that this is just another DeFi protocol with a baby theme. However, the truth is much more complex. The platform aims to serve as a launchpad for new projects, hence the name. Traders get access to new token projects, allowing them to trade, stake and farm. While projects themselves can use BabySwap as a growth fund with arbitrage support.
Users earn BABY tokens by trading or staking Liquidity Pool tokens. They can then use their BABY earnings, stake those in the Snack Pools and earn a share of a prize pool. There are various tokens users can earn through these pools.
Put your Baby NFTs to use
The above is pretty traditional for any DeFi protocol, but BabySwap also adds a variety of gamified experiences to the mix. For starters, there’s a big Non-Fungible Babies NFT collection that users can buy and collect, and then stake for passive income in BABY tokens.
In addition, BabySwap is starting to add games to the mix. The Crypto You is the first game in the Baby Metaverse. It allows gamers to use Baby NFTs and earn MILK tokens. Every baby character has a certain role, which makes them suitable for certain tasks in the game. What’s more, Ina Non-Fungible Baby can only join a certain number of battles per day. Of course, users will need BABY to participate in this ecosystem.