Join us for a deep dive into the tools Bogged Finance provides on the Avalanche (AVAX) chain, and find out how they could benefit you as a DeFi trader.
What is Bogged Finance?
Bogged Finance is a suite of cross-chain trading tools aiming to make DeFi trading more accessible to traders coming from typical centralised exchanges. Tools such as DeFi limit orders and stop-losses can massively improve trading profitability, and give traders more control over their positions.
To date, Bogged Finance has processed over 100,000 limit orders, with hundreds of millions of dollars worth in transactions made every month.
What does Bogged Finance provide for Avalanche traders?
Bogged Finance provides a broad range of tools on Avalanche, including BogSwap, stop-losses, limit orders, a cross chain bridge and staking. Read on to find out more about how these tools work on Avalanche.
DeFi Limit Orders for Trader Joe, Pangolin, Lydia Finance and more
Limit orders are highly advantageous when trading, as they give traders fine control over their entry and exit prices. This is particularly beneficial when trading on decentralized exchanges, as traders are no longer subject to the prices offered by automated market makers.
Bogged Finance DeFi limit orders are completely automatic. Traders can just set and forget; no need to keep any devices switched on and the trade will fill up to a year after placing it.
Limit orders work for any Avalanche token on all our supported DEXes. This is thanks to the way Bogged Finance limit orders work; their implementation means no maker or taker is required to fill an order.
When an order is placed, the Bogged Finance smart contract is given access to that token only on a trader’s wallet. Our systems constantly monitor the price of the chosen token, then place the order when the target is reached. Tokens do not leave a trader’s wallet until this happens. Using a smart contract ensures fund security, as there is no way to maliciously change the way orders are fulfilled.
Limit orders cost $2.50 worth of $BOG (the Bogged Finance governance token), or $3.00 in AVAX. They are available for tokens with liquidity on Pangolin, Lydia Finance, Elk Finance and RUGenerous.
DeFi Stop-Losses for Avalanche — Protect your profits and prevent losses with Bogged Finance
Many DeFi traders will know how volatile trading in this space can be; tokens with low market capitalization can fluctuate in value wildly, and prices can crash overnight. Bogged Finance DeFi stop-losses take some of the stress out of DeFi trading, allowing traders to sleep easy knowing that their funds are protected.
DeFi stop-losses help secure funds by automatically selling when a target is reached. For example, a token is trading for $1, but crashes to $0.50 overnight. Thankfully, a smart trader had a stop-loss set to trigger at $0.90, turning a 50% loss into 10%.
Stop-losses are best used as part of a well-planned trading strategy, with realistic targets. When coupled with limit sell orders on Bogged Finance a trader can automate their DeFi trading, saving them time and hassle.
Stop-losses cost $2.50 worth of $BOG, or $3.00 in AVAX and work with tokens on Pangolin, Lydia Finance, Elk Finance and RUGenerous.
Avalanche DEX Aggregator — Cheaper, Faster DEX Swaps with powerful features.
With many Avalanche DEXes to choose from, it can be challenging for traders to find a suitable place to buy/sell specific tokens. For example, their preferred DEX might not have sufficient liquidity for a certain token, which can result in a very expensive trade. BogSwap DEX Aggregator makes trading a breeze, by automatically routing trades through the best and cheapest liquidity pools. This means trades are cheaper and more straightforward.
BogSwap has become renowned by Avalanche traders for its simplicity and reliability, and the numbers support this; in the past 30 days over $12M has been swapped by 14k users on Avalanche BogSwap.
BogSwap also includes many other advanced features such as;
- Friendly Errors
- Multi TX
- Avoid TX limits
- Token Pre-Approval
- Faster Swaps
- Pre-set gas
- Simple gas interface
BogSwap is completely free to use, and does not take any fees whatsoever. (Standard AVAX gas fees still apply)
For more information about how BogSwap works, and how to use its advanced features, see our other Publish0x article; What is BogSwap? Benefits of using a DEX aggregator to swap and trade tokens.
Avalanche cross-chain bridge — easily and affordably move tokens between Avalanche, Fantom and BNB Chain
At Bogged Finance we believe in unifying DeFi trading across chains, so users can avail of features, tokens and trading opportunities on as many chains as possible.
The Bogged Finance cross-chain bridge allows users to move funds from Avalanche. This is currently done using the $BOG token as an intermediary, so traders will need to purchase the desired value of $BOG that they wish to move. This solution is temporary; the Bogged Finance team plans on introducing seamless cross-chain swaps in the near future.
There is a simple fee structure for using the bridge- $2.50 in gas plus 0.25% of the transaction value.
Avalanche staking with a difference — earn a fair share of platform fees
The $BOG token is the core of the Bogged Finance DeFi ecosystem; it facilitates bridging and is used to pay for platform fees and pro features. This also allows the team to reward the platform’s users in a novel way, by offering platform revenue as staking rewards.
Every time an Avalanche limit order/stop-loss is placed, or funds are bridged to avalanche, 75% of the fees are distributed to stakers.
The future of Bogged Finance on Avalanche
Bogged Finance is an ever-growing trading platform, with more features being added regularly. In late 2021, we held a developer AMA where our co-founders Luke and John laid out the plans for the first portion of 2022. A recap of the AMA is laid out in our Medium post.
If you’d like to learn more about the Bogged Finance project, please visit bogged.finance If you’d like to get in touch with the team or community, you can do so on Reddit, Twitter, Discord and our Telegram Group.