BogTools AMA Transcript

BSCNews hosts Bogtools, an ecosystem of developer-friendly dApps powered by the BOG token.

By
CryptoShrimp
on
April 6, 2021
Category:
AMA

Crypto Shrimp (AMA Host): Ladies and Gentlemen, let's welcome BogTools team today for an exciting round of AMA at BSC news, really looking forward to learning more about the project! How are both of you doing today? @LukeBogTools @JohnBogTools

Luke [Verify you are talking to the real me]: We're doing well today! Hope you and everyone else at BSC News is too

John BogTools.io: Yea pretty good, glad to be here

Crypto Shrimp (AMA Host): That's awesome!


Q1 Tell us more about you and your team members, what are their roles and what past experiences do you guys have before?


Luke [Verify you are talking to the real me]: Happy to! I've been involved in crypto since 2011, way back when I was only a teenager, mining some bitcoin — back when that was still a practical thing to do on a normal PC. 😅  I was involved in the Peercoin community — back when Proof of Stake was actually just a concept created by Sunny King — an anonymous developer just like Satoshi Nakamoto. I built an offline wallet generator and a few other tools back when crypto was in its infancy. I've since studied Marketing and built my own marketing business from scratch over the past 8 or so years. Helping grow businesses including some who have gone on to be acquired by multinational corporations. You can find me on LinkedIn for more info about that. Now, I'm co-founder here at BogTools, leading business development and marketing! long answer, haha

Crypto Shrimp (AMA Host): oh not at all thats an impressive background you have since 2011! 

John BogTools.io: I'm the lead developer, been programming about 6/7 years now with crypto development a more recent part of that but as I'm sure you can see we are putting out some pretty impressive stuff already. We also have a few other contracted team members working on site design, charts, and other things as we need them to.

Luke [Verify you are talking to the real me]: Yeah we have some really talented people working for us already.

Crypto Shrimp (AMA Host): yes you guys are developing stuff that are really exciting too, great job there!! did you use BTC to pay for your pizza?

Luke [Verify you are talking to the real me]: Haha thankfully not but I did sell all my BTC for a few thousand dollars, eek.

Crypto Shrimp (AMA Host): like i was talking to a community today, whatever you do as long as it profits, you did well! so how many team members do you guy have in bogtools ?

Luke [Verify you are talking to the real me]: We have four team members including ourselves, and then we have a few people doing contracted work. We are growing fast though!

Crypto Shrimp (AMA Host): thats a decent size team !


Q2 So how did it inspired you guys to create Bogtools and why BSC?


Luke [Verify you are talking to the real me]: So we started Bogtools because we saw that BSC was missing many of the rails that make other Blockchains function well, and we saw that we could have a first mover advantage in the space as well as get the opportunity to try new things that are only possible thanks to BSC’s low fees — like smart oracles. Bogged.Finance is just the beginning of that vision. BogTools and the $BOG token is our overarching brand which we'll use for the whole ecosystem we're building.
Crypto Shrimp (AMA Host): thats really interesting and you pointed that out rite, smart oracles!for some of our readers here, maybe you can explain what an oracle does?
Luke [Verify you are talking to the real me]: Oracles are tools for developers which let them access data on the blockchain that would otherwise be impossible or difficult to access. We've only built out our price oracles so far, which you can view on the BogTools website: https://bogtools.io/feeds/ Our main focus at the moment is completing the Bogged.Finance Trading Platform, after that, we'll be expanding on our oracle vision. Developers can use these oracles to get trustless current and historical information about token prices anytime.

Crypto Shrimp (AMA Host):Im sure alot of project will want that cause most of the public will want to see a live feed on price and also the historical chart too

Luke [Verify you are talking to the real me]: Yeah, so we've actually got an entirely new product just for that purpose, the bogged charts on charts.bogged.finance

You can enter any contract address and it provides you accurate price data, charts, and info on any token on BSC.

Crypto Shrimp (AMA Host): Thats quite an impressive opening you gave us about BogTools, is there anything else that you wanna include in the overview of what Bogtools does?

Luke [Verify you are talking to the real me]: Our flagship product right now is bogged.finance

The trading platform allows you to place limit buys to automatically "buy the dip" on any token on pancakeswap. It's live and ready to use today. You just select a token (or enter the contract address), set a buy price, the amount you wish to buy, and send the order. And the platform will automatically buy the  token as soon as it dips to your price.

Crypto Shrimp (AMA Host): yes i read about limit buy and its really what we are missing, did it launch on the 2nd april ?

Luke [Verify you are talking to the real me]: Yes it did and it all works with Pancakeswap Liquidity, meaning that it works on ANY token that you can trade on Pancakeswap.

Crypto Shrimp (AMA Host): thats literally almost all the projects in BSC

Luke [Verify you are talking to the real me]: We'll be launching Take Profits, and Stop Losses down the line too.

Crypto Shrimp (AMA Host): when are we expecting the take profit and losses to roll out as well?

Luke [Verify you are talking to the real me]: Take Profits will be launching in approximately one week, and the stop losses should come about 2 weeks after that. I'm eager to set exit prices on tokens and have it automatically fill. Personally, it'll stop me checking my phone a million times a day haha.

Crypto Shrimp (AMA Host): yes definitely takes the mind off, now we gonna be able to "buy the dip" like a pro even while we are asleep, oh wait, is there time limiit to the orders being set

Luke [Verify you are talking to the real me]: Currently the orders expire after 7 days, but we're hoping to be able to extend that soon.

Crypto Shrimp (AMA Host): I think we will need a notification saying the order is fill, will that be available?

Luke [Verify you are talking to the real me]: Because it's a dApp, it's not an easy thing to achieve. But I think it's something we'll need to look at soon.

Crypto Shrimp (AMA Host): yes understand about that but its a normal instinct when we hear about stop loss, profit taking and limit order, being notified the orders are filled will be the next best thing!

Luke [Verify you are talking to the real me]: You'll always be able to check your order statuses on https://bogged.finance/history

Crypto Shrimp (AMA Host): thats great too!


Q3 You mention about the bogcharts being able to check token prices, does the project need to be in collaboration with bogtools to be able to generate a chart?


Luke [Verify you are talking to the real me]: Not at all, just like Bogged.Finance it's available for every single token on BSC. It's really important to us to make our tools open and accessible to all projects from day 1.

https://charts.bogged.finance/?token=0xD7B729ef857Aa773f47D37088A1181bB3fbF0099

Just replace the token address, and you'll see a chart for any token on Pancakeswap.

Crypto Shrimp (AMA Host): yes i tried it when you mentioned price is really on live feed

Luke [Verify you are talking to the real me]: Yeah our team has worked really hard to both make it super accurate and fast, and make it work for every token.

For those who like to moon safely: https://charts.bogged.finance/?token=0x8076c74c5e3f5852037f31ff0093eeb8c8add8d3 ;)


Q4 you mentioned bogged.finance with the limit orders and soon profit taking and stop losses, what are the fees like for all these services?


Luke [Verify you are talking to the real me]: Currently there's a flat fee of $2.50 worth of $BOG for a Limit Order. The pancakeswap fee of 0.2% also applies. It'll be the same fee for the other order types too. The majority of these fees are returned to holders of the $BOG-BNB LP Pair who stake it on our website.

Crypto Shrimp (AMA Host): thats a reasonable fee for all the users i will love to use it


Q5 so will this (limit order and others) be limited to jus PCS or it will be able to use across other AMM as well?


Luke [Verify you are talking to the real me]: Currently the platform can only route through pancakeswap, however we plan to support any AMM's that have a good userbase.  When this feature launches, we'll automatically route your order through the platform that has the best price. I am thinking that we'll add Bakeryswap support next, but this is definitely a few months away.

Crypto Shrimp (AMA Host): I'm sure that will be great for bogtools as well, whichever the AMM im sure the user baser will increase

Luke [Verify you are talking to the real me]: Yeah, we're excited to support more AMM's in the future because it means that our users get the benefits of new more innovative platforms without having to worry about whether trading on there will actually cost more.


Q6 during my research on Bogtools, I also came across BogRNG, I understand its used for lotteries or casino games, how is the randomness being assured?


Luke [Verify you are talking to the real me]: I'll let John, our lead developer & co-founder answer this one.

Crypto Shrimp (AMA Host): ya sure he will be the best person to let us in on some great explanation

John BogTools.io: So for Bog RNG we pre-generate the randomness and send a hash of that randomness to the contract. When a smart contract asks for randomness it instantly gets a hash of that randomness from the contract, then a few seconds later our server sends the number to the smart contract that requested the randomness. The smart contract then checks the number against the hash to ensure the randomness was not manipulated by us - by doing it this way the developers can guarantee that we have not modified the random number based on the nature of their request. There is a fairly extensive list of security considerations on our documentation that we would advice all developers to have a read through as well to ensure their contracts are safe for people to use.

Crypto Shrimp (AMA Host): wow thats really random and alot of background work for something we wont be able to tell from an end user point of view sorry my comp knowledge is just ctrl-alt-del, so how long does it take to generate this randomness?

John BogTools.io: The contract will be called back with the randomness within a few seconds, depending on how long BSC takes to validate the blocks. Yes it's definitely something that is more for developers but will eventually bring benefits to the BSC ecosystem as a whole as other developers start using our infrastructure for interesting projects such as casinos, lotteries, etc

Luke [Verify you are talking to the real me]: We've already seen a few projects start work on dApps that take advantage of the Randomness service.

Crypto Shrimp (AMA Host): ya sounds like the project im with might be interested in that too! randomnes can really be spin into loads of games and fun activities. besides bogcharts, bogRND and Bog finance we talked about, do you guys have any other products that you would like to share with us ?

John BogTools.io: We will be launching a lottery toolkit very soon that utilizes our oracles to provide the basis for a full functioning lottery. Our hope is that this will kickstart some developers into making some more interesting projects on BSC. With the fees from this providing benefit to BOG as a whole, as well as our stakers.

Crypto Shrimp (AMA Host): nice im sure the projects will be contacting you about that really soon.


Q7 I would like to find out about the security aspect of Bogtools, is the codes being audited? or is there a bounty for bugs etc?


John BogTools.io: We are very focused on ensuring that our users are secure. There are hundreds of thousands of dollars worth of orders already placed and processed with Bogged.Finance in the Beta and full version, and we take this seriously. The manner in which the smart contract governing the orders is coded, ensures that one an order is placed, the only things that are able to happen with that BNB is to either use it to fill the order and send the tokens to the user, or to cancel it and return the BNB to the user. There is simply no way for anyone, including us, to steal funds from the contract. We will be getting our contracts audited in the future for peace of mind of our users, and we always welcome community feedback and bug reports from people

Crypto Shrimp (AMA Host): taking care of the community is always important, as the project also depend on the community to support it


Q8 We covered quite a bit on the upcoming development like, bog.finance, profit taking and stop losses, lottery toolkits, how about future development for BogTools?


Luke [Verify you are talking to the real me]: We're excited for whats on our short term roadmap but we want to remain flexible when thinking Long Term for BogTools. Ultimately we want to provide value for our $BOG token holders and stakers and we'll build the kinds of infrastructure that BSC needs, right now it's bogged.finance but after that is feature complete it could really be anything — we are leaning towards building our smart oracles and developer tools out further to help developers build dApps and Projects better and faster on BSC. We've got a lot of work on Bogged.Finance though before we consider it even being close to complete :)

Crypto Shrimp (AMA Host): i think you guys will have a bright and great path! Keep on the hard work too


Q9 In that context, do share with us all the links on BogTools so that the readers can find out more and also follow the development of the project.


Luke [Verify you are talking to the real me]: You can join us @bogtools on Telegram and on https://twitter.com/bogtools

You can view charts for any token on https://charts.bogged.finance/ 

And of course, you can trade any token on https://bogged.finance/

Oh, and our main website is: https://bogtools.io/

Crypto Shrimp (AMA Host): how about any medium or doc that we can read on ?

Luke [Verify you are talking to the real me]: At the moment our developer docs are available on docs.bogtools.io, and you can read our lightpaper on bogtools.io

EN:  https://bogtools.io/lightpaper.pdf

CN: https://bogtools.io/lightpaper-cn.pdf

Crypto Shrimp (AMA Host): https://www.bsc.news/post/bogtools-deployable-smart-contracting-oracles-with-contract-execution-functionality

this will also be a good article to read too 🙂


Q10 Lastly our famous question in BSC News, do you have any alpha or juicy news for us today?


Luke [Verify you are talking to the real me]: Yes we do! A few little things.

Crypto Shrimp (AMA Host): juicy!

Luke [Verify you are talking to the real me]: We have partnered with UniRocket and WaterfallBot to be their chart provider for all tokens on BSC. Shortly on every UniRocket post you'll see a link to Bogged.Finance's Charts, and I believe the WaterfallBot links have just gone live too! Secondly, We will in the next few days be releasing an update to the Bogged.Finance charts which will add TradingView functionality. Allowing all your Technical Analysis to be done on the Bogged.Finance Charts! I think that's it for now, a few other things are in the works, but we can't talk about them until they're ready! :)

Crypto Shrimp (AMA Host): those are huge news to me already! more functionality and also great partnerships!

Luke [Verify you are talking to the real me]: I think everyone who uses Telegram and trades new tokens on BSC uses those bots, so it's going to be great to be in front of more people than ever!

Crypto Shrimp (AMA Host): That will be all the questions I have for you guys today, thank you for being such good speakers and also letting us be educated about bogtools as well! All the best to you guys and I'm sure you will achieve alot more in the future! Cheers!

Luke [Verify you are talking to the real me]: Thanks so much, we're excited for the future

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