BAKED token utility & value proposition

Nikos reBaked
reBaked
Published in
2 min readDec 26, 2023

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The BAKED token stands at the heart of RBKD DAO, a decentralized autonomous organization focused on cultivating the CrowdSourcing, OSS & AI industries. With an ecosystem already four products, and more developments in the pipeline, BAKED is poised to redefine the landscape of decentralized governance and utility.

🔗 Governance: As the native governance and utility token, BAKED plays a pivotal role in RBKD DAO’s decision-making processes and ecosystem transactions. The DAO will leverage OpenSoul for governance proposals, utilizing BAKED to shape the future of its projects.

🚀 Ecosystem Products: RBKD DAO currently oversees four products, including CrowdHack, Buidl Finance, OpenSoul, and DataSource. The ecosystem’s growth is evident, with an additional projects in the works. Each product contributes to the continuous development of the DAO, solidifying BAKED’s utility and value proposition.

💡 Value Proposition: BAKED token holders enjoy long-term benefits through consistent airdrops. These airdrops are fueled by the collection of a 5% protocol fee from all four products. The fees, collected on top of Successfully Distributed Funds (SDF), enhance the rewards for committed token holders.

💰 Airdrops and Token Burning: The collected fees are redistributed to token holders through quarterly airdrops. To qualify, users must participate in an on-chain governance proposal via OpenSoul (more details will be released in a separate article), promoting active engagement and community involvement. Alternatively, the protocol treasury can be swapped with BAKED fees, collected, and subsequently burned, reducing the token supply and enhancing scarcity of BAKED token.

📊 Transparency and Analytics: To uphold transparency, RBKD DAO plans to commission Dune Analytics wizards for visualizing fee collection across its protocols within 2024. This move aims to provide stakeholders with a comprehensive and easily digestible overview, fostering trust and better engagement.

🔒 Token Issuance and Team Commitment: With a total supply of 100 million BAKED tokens, the team has taken a proactive stance. A proposal has been voted on, pausing any new token minting activities until the token attains its initial offered value. This demonstrates the team’s commitment to fair and sustainable growth, ensuring that new tokens are unlocked only when justified.

🌐 Blockchain Presence: BAKED token is multi-chain, with official contracts available on Polygon, Ethereum, and Aurora. This cross-chain compatibility expands accessibility and ensures seamless integration across various blockchain ecosystems.

📈 Market Presence: BAKED has presence on various markets, as reflected on CoinGecko & CoinMarketCap.

🔗 Explore BAKED:

BAKED represents a community-driven initiative.

Join the journey, be part of the governance, and embrace the ever-expanding BAKED ecosystem. 🌐

Stay tuned for further product updates, crowdsourcing, and contribution opportunities in Web 3! Follow the official reBaked social channels -

🪢 Community | 🐦 Twitter|🎥 Youtube | 📰 Medium |📢Announcements|

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Nikos reBaked
reBaked

Building reBaked- Exploring DEFI & researching incentive mechanisms to grow #DAOs | I help #BUIDL startups & grow organizations | ✍️ about #Crypto & Blockchain