A series of upgrades to their suite of tools have helped propel the company to an established position on the blockchain.
Upgrades and Updates
After completing a full rebrand from BogTools to Bogged Finance, the developers behind Bogged Finance have delivered a set of updates to provide an even better Decentralized Finance (DeFi) experience.These updates will cater to millions of active platform users, strengthening its leading position as a premier Decentralized Exchange (DEX) Aggregator on Binance Smart Chain (BSC).
The most prominent among the updates are those rolled out for BogSwap, the tool which is used to exchange tokens in a decentralized manner.
BogSwap now includes an innovative Auto-Tax feature that enables trading at low price slippages while allowing the token to take its standard taxes. This absolutely new invention eliminates unfavorable price changes, or frontrunning, which is common in standard high-slippage DEX trading.
“Originally, slippage was a mechanism created to protect users from sudden price changes. However, it has now become common to use slippage to cover token fees or taxes. This addition to our protocol separates token taxes from price slippage, modernizing our trading platform to better support current token trends and standards,” the Bogged Finance development team stated.
Many DEX traders use 100% slippage to get into new token launches as early as possible. This creates a chance of the trade going through at a 99% tax, which is a common cause for anti-snipe measures.
Most often, these measures result in a complete loss of invested digital assets. Setting a BogSwap Auto-Tax limit will prevent it from happening and protect traders and their funds.
Bog Routing API
Improving the BogSwap trade routing has led to leaving 0x API in favor of in-house developed Bog Routing API which will provide everyone with better, faster, routing and set Bogged Finance up well for future developments.
Successful BOG Token Migration
The BOG Migration started on June 1st 2021 and finished on the 29th of August 2021. The remaining unclaimed BOG tokens are considered abandoned and were burned.
This event is followed by team efforts towards improving the brand image and updating info on major crypto rating platforms, including CoinMarketCap and Coingecko, as well as verification of the smart contract on BSCScan.
To learn more about Bogged Finance, visit the following links:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.