Yesterday, we launched our first cross-chain bridge, as promised in our Q1/Q2 roadmap update.This marks the start of our plans to unify DeFi trading across blockchains, all powered by our governance token, $BOG.
Currently, users can swap $BOG on BSC to $BOG on AVAX, and vice versa. The average transaction time is less than one minute, and the cost of bridging is $2.50 plus 0.25% of the transaction value.
The Avalanche to BSC bridge is part of the Bogged Finance AVAX expansion, and it’s being launched along with the $BOG token on AVAX. This token is closely pegged to the value of the existing BSC $BOG token, which is the backbone of the Bogged Finance DApps.
Benefits for BOG holders
Holding $BOG allows users to pay for pro DeFi trading tools such as limit orders and stop-losses, or they may stake it for a share of bridge and platform revenue.
Future cross-chain bridge plans
This current iteration of BSC-AVAX bridge is only the beginning, soon we will integrate seamless swaps between chains. This means if you’d like to swap a BSC token to an AVAX one, you will be able to do so without needing to manually swap to $BOG first. The bridge is also to be expanded to many more chains, giving DeFi traders more choice and scope when it comes to managing their assets.
To stay tuned to our upcoming news and releases, make sure to follow us here,on Twitter, and on our Telegram Announcement Channel. If you have any questions, our supportive and knowledgeable staff are happy to answer them in our Telegram Group. Remember, our staff will never DM you first.
-The Bogged Finance Team