Bogged Finance Offers Limit Orders on PancakeSwap and More
Bogged Finance leverages an advanced trading interface and decentralized token to introduce some new features and a unique business model to the market. The developers behind the concept seek to bring DEX users to access to various tools usually allocated to centralized exchanges, such as limit orders. The platform integrates a smart contract deployment mechanism that enables the BOG token to run protocols in real-time to accomplish this task.
What Problems Does Bogged Finance Attempt to Fix?
Currently, PancakeSwap users are left with very little functionality in terms of order options. Bogged Finance seeks to eliminate these restrictions with the integration of their new decentralized ecosystem. Anyone can use the protocol to gain some extra order types. Specifically, the network enables limit orders for any token on PancakeSwap.
Limit orders allow you to set our buy price, and when the market reaches your parameters, the trade executes. This order is very common on large exchanges because it allows you to free up your time and ensure you hit your entry point exactly. Bogged Finance takes this concept further because their system allows you to place order limits on any token, Including custom tokens that are new to the market.
This strategy is ideal because it provides you with a way to research and place orders in an organized manner. The platform helps to eliminate buyer confusion. As part of their approach, Bogged Finance has released its first oracle protocols. Oracles are off-chain sensors that can communicate data to and from the blockchain. They can trigger smart contracts and a host of other helpful actions. In this scenario, the oracles allow decentralized price charting for any BSC coin available.
Another issue that plagues the market is unfair coin distribution. It’s common for developers and whales to take the lion’s share of tokens during the launch. This scenario leaves other investors at a disadvantage. To combat these issues, Bogged Finance launched with no presale. Also, the developers have set out a strict max 5% purchase limit to stop whaling and developers from cornering the market.
Bogged Finance’s team went a step above the competition when it agreed to keep all initial liquidity locked for a 6-month minimum. Liquidity locking mechanisms are a smart way for new firms to build investor confidence in their projects. These systems keep the project’s funds locked in a smart contract where the entire network can monitor it until its release date.
Onboarding New Tokens
New token developers will enjoy that Bogged Finance offers a bunch of features to simplify their deployment. The platform offers these users access to charting tools and other options to help new projects obtain new users.
Benefits of Bogged Finance
Bogged Finance‘s toolset introduces a plethora of advantages to PancakeSwap users. For one, it takes advantage of PancakeSwap’s liquidity to provide a more responsive trading experience for users. It also helps developers break into the market in a way that is conducive to future growth. Here are some of the other cool benefits gained from using Bogged Finance.
Bogged Finance was built from the ground up to meet the growing needs of the DEX community. The platform operates on the Binance Smart Chain (BSC). The BSC is a fourth-generation blockchain that provides faster transactions and far more scalability than Ethereum.
Lower Gas fees
The decision to launch on the BSC was wise as the network’s configuration provides much lower rates than Ethereum. Currently, Ethereum-based platforms suffer from record-high gas fees due to congestion. Notably, gas fees are the cost of executing smart contracts on a blockchain.
Networks such as Ethereum are designed to raise these fees as more users join. Sadly, this leaves both developers and traders paying more for simple transactions. The BSC was built to avoid these issues. Consequently, Bogged Finance users can execute complex smart contracts for a fraction of the Ethereum network cost.
How Does Bogged Finance Work
Bogged Finance is composed of many different components that work in tandem to provide users and developers with more opportunities. The network features a simplistic interface that allows you to place limit orders on any token on PancakeSwap. You can see all the relevant data for these investments, including market cap, liquidity, and more.
Users gain access to the Bog Tools set. This feature was originally called Bogdabots, but developers recently revamped the title to better fall in line with the network’s overall feel. Bog Tools are individual contracts deployed on BSC. They connect to hooks that were specially built into the Bogged Transaction System. This strategy enables real-time execution of smart contracts. According to company documents, the developers intend to move these functionalities over to full-time blockchain deployment.
This setup makes it easy for developers to expand on the network. Currently, there is one price monitoring oracle in operation. This system can record and store the price of any asset pair. Notably, developers pay for access to oracles using the platform’s native cryptocurrency, BOG.
Another cool Bog Tools feature that is sure to excite users is the staking pools. Users need to participate in the BOG-BNB liquidity pool on PancakeSwap. You will receive BOG-BNB Cake-LP tokens that can then be staked to earn a share of the 4.4% transaction fee distributed to stakers.
Bogged Alternate Reality Game
The Bogged ARG is an optional part of the Bogged ecosystem. It combines a gamified approach to the platform with incentives to further BOG usage. To participate, you need to stake Bogged LP tokens for 24 hours from the Sminem Pool.
This feature is seen as a milestone as normally you would receive NGMI. This token was not transferrable and, therefore, held little value to traders. Now, you can replace NGMI with BOG and see some ROIs.
In the coming weeks, developers intend to add more functionality to the interface. Specifically, they will add Limit Sells and Stop Losses to the interface.
BOG is the utility and governance token for the Bogged Finance ecosystem. These tokens are what you use to interact with all the features of the system. Users receive rewards in Bog. Also, you need BOG to buy and deploy Bog tools to the network. Uniquely, BOG runs code each time it is executed for various use-cases. There is an initial supply of 2,500,000 BOG available to the public.
Another important feature to look out for in the coming days is the community governance protocols. BOG holders will gain voting rights on network developments when this mechanism is launched. Community-based models are ideal for decentralized networks because they help keep the community cohesive.
Bogged Finance – Top PancakeSwap Features and More
Bogged Finance has some unique features that are sure to spur interest in the platform. The ability to make limit orders is a huge plus for anyone used to staring at liquidity pools on PancakeSwap. Plus, the open nature of the platform should provide developers with another reason to adopt the network.
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