What Is Bogged Finance (BOG)?
Bogged Finance is a DeFi platform powered by the BOG token, the native token of the Bogged Finance platform. Bogged Finance aims to recreate tools of centralized exchanges for decentralized exchanges, i.e., creating advanced DeFi tools that enable users to trade efficiently.
Current trading platforms offer limited trading tools and analysis. To tackle this problem Bogged Finance has developed trading tools within analysis products, aiming to create a single place where users fulfill all their DeFi needs. Bogged Finance seeks to provide the following features:
Portfolio Tracking:This feature allows users to view and track their DeFi token portfolio over time. The system manages this data to create an accurate visual representation of the user's portfolio.
Limit Orders:Limit orders allow traders to trade an asset at a predetermined price. The limit order is monitored until the asset's price allows for that trade, and once it does, only then is the transaction executed.
Stop Losses and Trailing Stop Losses:A stop loss is an order that is implemented to decrease losses for traders when the market moves in an unfavorable direction. Bogged.Finance's Stop Loss Contract spends the tokens, i.e., the servers monitor the market for specific positions and sell the token when the prerequisites of the order get fulfilled. A trailing stop loss enables traders to exit positions based on the movements of the traded token.
Verifiable Randomness Oracles for Other Projects:Bogged Finance Randomness oracles are used for returning verified untampered random numbers.
Governance of BOG Token:BOG is the native governance token of Bogged Finance that has several utilities. As a governance token, BOG allows holders to propose changes to the platform and vote for those changes within the community. The weight of the vote will depend upon the number of tokens held by the user. The token is also used to place orders on the platform and access advanced features like portfolio tracking and stop loss. The token can also be staked in three ways:
LP Staking:LP Staking enables holders to stake their liquidity tokens and seek to earn a portion of transaction fees to incentivize liquidity and ensure the smooth running of the project.
Compensation Staking: Compensation Staking enables pre-migration holders to stake their BOG to seek to earn the LP (liquidity provider) tokens generated by the token contract's auto-liquidity function.
History of Bogged Finance
The maximum total supply of BOG tokens is 15,000,000 coins.