DEXs’ significance stems from their seamless and smooth exchange process between users’ wallets and the available liquidity. However, the inability to place a LIMIT or STOP LOSS order on DEX platforms still is a crucial advantage for CEX platforms which has not yet been solved by DeFi, until now.
What is BogTools?
BogTools is a suite of tools that solves the problem of setting LIMIT and STOPLOSS orders on DEX platforms. Built on the Binance Smart Chain network, it aims to bring in some Centralized Exchange (CEX) features that serve a great utility to DEX platform users.
The project brings in CEX Features, including Stop Orders and Charts, to help traders make better-informed decisions. Along with many other smaller, yet still notable, features for DeFi developers and users.
Stop Loss and Limit Orders
Some of the platform features are already live, including the Limit Order, Oracles, and the Chart tools. The project has committed to further releases in the coming weeks and months, ultimately culminating with the creation of a seamless exchange experience in a dApp format.
Limit Orders: BogTools allows users to research and place orders for any token on the Binance Smart Chain (BSC) network. The limit order platform takes advantage of PancakeSwap liquidity, intending to take advantage of other DEXes liquidity in the future. As PancakeSwap is the largest AMM on BSC, Bogged.Finance’s utilisation of their liquidity allows your order to fill at the best possible price.
Users can immediately connect their wallet to the BoggedFinance platform and place either a sell or buy limit order. Users just need to set a target price, amount, and the slippage. On one screen, the limit order tool shows you the Order Book and Active Orders so you can see all of these in real-time seamlessly.
Chart Tools: The BoggedFinance chart tool allows traders to chart BSC tokens and utilize the available liquidity on PancakeSwap DEX.
This tool shows you how your favorite token is currently fairing in the market, it is particularly useful for traders who need real-time data. You have access to the TradingView tools to chart your tokens and make better decisions. Switch between USD and BNB, toggling the feature at the top right corner of the page. Charting your favorite coin is easy, simply input the smart contract and click on “GO.”
The tool also shows you the available liquidity on the available pairs and the market cap. For example, the EXF coin currently has a total MCAP of $1,642,196 at press time. Take note that the chart takes data only from PancakeSwap for now.
Oracles: Get real randomness on-chain in an easy-to-use and verifiably random manner. This feature empowers next-generation dApps that can leverage and rely on true on-chain randomness.
Getting Random Numbers
BogRNG allows applications to get Randomness On-Chain in a verifiably secure fashion. A hash is stored in the Oracle contract of the next random number to be provided. The number is checked by the contract receiving the random number against the hash to ensure the number provided has not been changed based on the nature of the request.
Learn how to use the Random Oracle Tool HERE
This is a simple but secure method of providing random numbers on-chain, allowing developers to easily integrate it into their project instead of rolling their own solution. BogTools plans to launch Version 2 within the next month, including features such as custom callback gas, returning data to caller, more secure with higher load, and lower fees.
Staking: The platform currently runs a single LP stake.
Provide BNB liquidity with your BOG on PancakeSwap to receive BOG-BNB Cake-LP tokens. You can stake these tokens within the stake platform to earn a share of the platform fees. Your stake rewards will immediately appear as part of your balance in your wallet.
Additionally, BOG solo staking will be launching in May, allowing users to stake BOG to earn BNB which is generated from Ad Sales.
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.