Bogged Finance - Advanced Tools for Traders

The Binance Smart Chain-based protocol allows traders to research and exchange a variety of tokens with complementary tools.

By
BSCNews
on
June 23, 2021
Category:
BSC News

Introducing Bogged Finance

Bogged Finance is a suite of advanced trading tools for Decentralized Finance (DeFi) on Binance Smart Chain (BSC). The Bogged Finance ecosystem has several headline features, including a trading tool that allows users to exceed transaction limits on tokens that otherwise limit maximum transaction sizes, as well as revolutionary trailing stop-losses, the first of its kind.


BogTools logo

Key Features

  • Research and place orders for any token on Binance Smart Chain
  • Token launch sniper so users can be the first to purchase newly listed tokens on PancakeSwap
  • Advanced trading functions including limit orders, trailing stop-losses, and token transaction limit bypass

What is Bogged Finance?

Bogged Finance is a platform for researching and placing orders for any token on Binance Smart Chain. It is packed with advanced trading functionality and tools so that users can get the very best out of BSC. Unlike some DeFi platforms, which simply imitate the tools and features of other platforms, Bogged Finance aims to create unique tools with a genuine utility, such as their Token Launch Sniper. This feature is designed so that Bogged Finance users can capitalize on the action of any newly listed token on PancakeSwap.

The chart view of Bogged Finance

The token swap of Bogged Finance, BOGSwap, is similarly advanced. It automatically routes trades through ApeSwap, PancakeSwap v1, and v2 to find the best possible DEX for any transaction. It will go the extra mile and route the transaction through several different exchanges to get the best possible outcome. 

For example, when trading BANANA to SAFEMOON:
BANANA-ApeSwap —> BUSD-PancakeSwap v2 —> BNB-PancakeSwap v1 —> SafeMoon.
All this is achieved seamlessly in a single trade. The complex routing takes place behind the scenes. Users can simply initiate the exchange, and the platform does the rest.

The basic token swap screen

Bogged Finance also provides more advanced functionality such as limit orders, allowing users to buy or sell an asset only when it reaches the price set by the user. 

More Advanced Features

Bogged Finance has recently launched BOGSwap Advanced, a tool specifically designed for the realities of trading DeFi tokens, which often limit the upper number of tokens that can be exchanged in a single swap. BOGSwap can automatically detect the upper trading limit for a token, or the user can select the limit themselves. The mid-tier premium service allows users to limit their trades to the token’s limit, while the high-tier premium enables the transaction limit bypass.

To ensure these features are unlocked, users must hold a certain number of $BOG tokens, the native token of the Bogged Finance ecosystem. The tiers and the features they unlock are as follows:

Tier 1: 100 BOG/No fee per use

Set Gas Price - users can preselect the gas price to get buys through without hassles in MetaMask.

Duplicate Your Transactions - submit the same transaction multiple times.

Disable Wait for TX Confirmation - continue trading while your trade is pending for faster trading.

Tier 2: 2,000 BOG/No fee per use

Set & Detect Token Transaction Limits - automatically detects the transaction limit for a token, ensuring you don’t exceed them.

Limit Buy to Transaction Limit - automatically downscales your trade if it exceeds the contract's transaction limit. Great for buying during launches. Any unspent BNB will be returned.

Tier 3: 5,000 BOG/No fee per use

Bypass Transaction Limit - allows trading with no transaction limits, subject to gas limits.

Trailing Stop Loss

Bogged Finance may already have a comprehensive suite of tools, but the team behind it isn’t content to rest on their laurels. The company is now launching a more intelligent version of the stop-loss — the trailing stop-loss. Bogged Finance explained the feature on their Medium page:

For this example, we’ll look at three traders, A, B, and C. All three bought $HYPECOIN at $1.00

  • Trader A reckons nothing can ever go wrong and just leaves his trade open.
  • Trader B is a bit smarter and knows that DeFi trading can be pretty volatile, so he sets a standard stop-loss to trigger if the price drops 25% below his entry.
  • Trader C also sets his stop-loss at 25% below entry; however, he’s even more thoughtful and knows that BogTools Trailing Stop-Losses is the best tool available for peace of mind when making these kinds of trades. He sets a Trailing Stop-Loss to trail 25% behind the price of the token.

Later that night, $HYPECOIN pumps 200% but then quickly dumps to 50% below our three trader’s entry price. All three traders are asleep and miss the price action.

  • Trader A wakes up, and panic sells, losing 50% of his investment.
  • Trader B wakes up and has only lost 25%, thanks to his BogTools stop-loss. However...
  • Trader C wakes up to a tasty 125% profit.

This is because the trailing stop-loss followed the token price upwards, constantly resetting the 25% stop loss on the token. When the token price dropped, the trailing stop-loss was triggered at 125% above Trader C’s entry price.

The company also has more improvements lined up, including improved chart views and governance through the $BOG token.


$BOG Tokenomics

BOG is the native token of the Bogged Finance ecosystem, unlocking better trading functionality and conferring governance rights to token holders. The token can also be used for staking.  A transaction fee of 5% applies to trading only. Transfers are free. The token basics are:

  • Max Supply: 15,000,000
  • Circulating Supply: 13,300,000
  • Initial Launch Price: 145 BOG per BNB

Bogged Finance will also be conducting regular burns of the $BOG token, with further details announced to the community as these occur.


Roadmap

May-June

  • Limit Orders version 2
  • Bogged.Finance Stop Losses
  • Incorporation of the BogTools company
  • BogCharts LP Calculator
  • Application for Major CEX listing
  • BogCharts Pro Mode
  • Embeddable BogCharts
  • BogScheduler, Scheduler Oracle for Smart Contracts

July

  • $BOG solo token staking begins earning BNB / BOG.
  • Bogged.Finance Pro Mode with charts
  • New Roadmap Announced

Q3 2021

*Subject to revisions and announcements*

  • Off-chain Oracles
  • Further Roadmap announcements in June 2021

Q4 2021

*Subject to revisions and announcements*

  • $BOG Governance Protocol Launch
  • Further Roadmap announcements in June 2021

2022+

Building Cross-chain Solutions, expanding off-chain oracles & continuing to grow the BogTools ecosystem.

Concluding Thoughts

While a significant number of DeFi projects only pay lip service to creating new and exciting tools, Bogged Finance is putting in the hard work to create a powerful DeFi trading platform with great utility and function. With many exciting developments scheduled for the coming year and a strong track record of delivering on their promises, there are many things to look forward to for Bogged Finance users.

For more information, visit Bogged Finance’s website and social media handles.

Tags:
No items found.
BSCNews

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.