Providing Advanced Cross-chain Trading Tools, Limit Orders and Stop-losses: Bogged Finance

Place/Date: - March 18th, 2022 at 12:55 pm UTC · 4 min read
Source: Bogged Finance

Providing Advanced Cross-chain Trading Tools, Limit Orders and Stop-losses: Bogged Finance

The Bogged Finance Ecosystem

Since their launch almost a year ago, Bogged Finance has been creating and nurturing an advanced DeFi platform. Their vision is simple; empower DeFi traders with powerful tools similar to what traditional centralized exchanges offer.

They set out on this journey by launching DeFi charts and Limit Orders. And now, they offer many more tools, such as an advanced DEX aggregator, trailing stop-losses and a cross-chain bridge. These tools are available on ten blockchains, including BNB Chain, Cronos, Avalanche and Fantom. So let’s take a look at their most popular offerings, and find out what’s making Bogged Finance a market leader in DeFi trading.

DeFi Limit Orders on PancakeSwap, Trader Joe and More

Limit orders have been offered by Bogged Finance since its early days, and they’ve been popular, with 100k orders placed on BNB Chain alone since launch.

What is a DeFi Limit Order?

In layman’s terms, a limit order is a buy/sell order which one can submit to a market, with a specified price. The order will only fill if the price is reached, meaning traders only pay what they want. This is very powerful in DeFi, where prices are dictated by automated market makers.

DeFi Limit orders on Bogged Finance work exactly like they do on large centralised exchanges, which is an incredible achievement considering the mechanics of trading on DEXes. Bogged Finance goes into detail about how these orders work in a recent article. Their offering is more reliable than competing solutions, as their system is guaranteed to fill (in suitable market conditions), and traders don’t need to keep their devices switched on for the order to be made.

Bogged Finance limit orders are available on BNB Chain, Avalanche and Fantom, with multiple DEXes supported including Trader Joe, PancakeSwap, Pangolin and SpookySwap.

For more information about DeFi limit orders, you can refer to this instructional video:

DeFi Stop-Losses – Protecting Traders on BNB Chain, Avalanche, and Fantom

Bogged Finance DeFi Stop-Losses are an incredibly powerful tool in any pro trader’s arsenal.

What is a DeFi Stop-Loss?

As their name suggests, stop-losses help prevent losses during strong downward trends. If the price of a token crashes below a specified threshold, Bogged Finance will automatically exit the trader’s position, saving them from further losses.

Stop-losses on Bogged Finance work completely automatically, meaning traders can sleep easy knowing that their funds are safe.

Bogged Finance also offers DeFi trailing stop-losses on BNB Chain, with planned Fantom and Avalanche support. This advanced type of stop-loss can lock in even more profit when used correctly.

How does a DeFi trailing stop-loss work?

Just like with a standard stop-loss, traders can set a trigger threshold at which the tokens should sell. However, this threshold moves up if the price increases. This could result in traders being able to exit their positions with more profit.  Traders can also use trailing stop-losses to lock in profits while benefiting from possible price action.

DEX Aggregator for BNB Chain, Fantom, Cronos, Polygon and More

BogSwap is a DEX Aggregator that works over ten chains and utilises 50+ DEXes. It processes 100’s of millions of dollars worth of transactions every month, and is gaining massive traction on emerging chains due to its simple and powerful interface.

What is a DEX Aggregator?

When trading cryptocurrency tokens on DeFi markets, one does so on DEXes (Decentralised Exchanges). The primary advantage of a DEX Aggregator is cheaper swaps. This is possible due to the price difference between different DEXes, and BogSwap’s intelligent routing capabilities. Using a DEX aggregator also means traders don’t need to familiarise themselves with multiple interfaces, or approve wallet access to these DEXes.

BogSwap also boasts many other features, like advanced gas settings and TX limit bypassing.

For more information about how BogSwap works, see their Publish0x article.

Conclusion, and What’s Next for Bogged Finance?

The Bogged Finance ecosystem is being constantly updated, and there’s many more developments planned, as shown on their roadmap. Notably, they plan on increasing cross-chain presence, with trading tools being released on even more blockchains.

They also plan on bringing more advanced order types over from centralized exchanges into DeFi. The future certainly looks promising for this upstart decentralized trading project, and it’ll be exciting to see what Bogged Finance manage to introduce next.