Bogged Finance launch DeFi Limit Orders, Stop-Losses for the Avalanche Chain

DeFi traders on Avalanche can now place stop-losses and limit orders on DEXes such as Trader Joe, Pangolin and Lydia Finance

• Bogged Finance DeFi Limit Orders and Stop-Losses are now live on the Avalanche (AVAX) chain.
• This comes half a year after limit orders were launched on Binance Smart Chain (BSC), where over 100,000 orders have been placed to date.

Read on to find out more about DeFi trading on Bogged Finance.

How do DeFi Limit Orders and Stop-Losses work on Bogged Finance?

Traders can set limit orders and stop-losses on Avalanche DEXes such as Trader Joe using an interface similar to those found on centralised exchanges.

Limit Orders

In DeFi, a limit order is different to a standard “”Swap”(Market Order). When a trader places a limit order, they are placing an order that only fills when the target price is met. This can be an extremely valuable trading tool, allowing traders to enter and exit trades during periods of volatility, or simply automating certain aspects of their trading strategy.

When setting a limit order on Bogged Finance, simply enter your target buy/sell price and desired slippage. Our systems will take care of the rest and automatically fill your order.

Stop-Losses

Stop-Losses are an important part of any trading strategy, even more so in DeFi trading, where fluctuations can be common. Bogged Finance DeFi stop-losses allow traders to set a percentage decline. When this target is reached, the stop-loss triggers and sells the trader’s tokens, protecting them from further losses.

To place a stop-loss, select a token in your wallet and how much of it you would like to sell when the stop-loss triggers. Then enter the “trigger amount”; this is the value of the tokens you’d like the stop-loss to sell at. You can verify that the percentage decline is correct in the preview box.

Paying for orders on Bogged Finance

Limit Orders can be paid for in $BOG, our governance token, or the native token of the chain being traded on.

Orders cost $2.50 worth of $BOG, or $3.00 worth of native token (BNB, AVAX etc).

Stop-Losses are paid for by holding $BOG, you will need to hold 100 $BOG on the chain you wish to use a stop-loss on. Once the order is filled you are free to do what you wish with the $BOG.

Bogged Finance allows you to place a stop-loss or limit order on the following Avalanche DEXes:

• Trader Joe
• Pangolin
• Lydia Finance

What makes Bogged Finance DeFi orders stand out from other platforms?

Limit Orders and Stop-Losses on Bogged Finance stand out as there is no taker needed to fill an order — it will go through every time, and it will work for any token*. When an order is placed, our systems closely monitor the price of your token, and when your target price is reached, a trade is placed by our smart contract.

*That has sufficient liquidity and isn’t a rug/honeypot. Edge cases such as tokens with unusual sell mechanisms may not function.

You do not need to keep your device switched on, the trade will be filled automatically for up to a year after placing, assuming you still have the required balance of tokens in your wallet. Simply set and forget, we’ll take care of the rest.

Our platform only has access to the tokens you wish to trade, which can be verified through the approval requests we send to your wallet. These tokens are not moved until the trade is executed. In the unlikely event that the trade cannot go through, your tokens will safely remain in your wallet, and a detailed error report will be shown on the “your orders” page.

What else has changed in this update?

Existing BSC users may have noticed a few changes to our platform:

• Our new limit orders and stop-losses have been moved on a single page for a more unified trading experience. Any existing BSC orders will have to be managed on the “OLD” order page, they can be viewed there until they are filled, cancelled or expire.
• Orders can now be paid for in native token (BNB, AVAX etc). This is swapped directly into $BOG, which is distributed to stakers.
• Users can now choose a custom expiry time, from 1 day to 1 year.
• More information about the status of an order, including more detailed cancellation reasons.
• The infrastructure supporting the order platform has been upgraded, meaning that more BSC DEXes are now supported.

To place an order, or see how it all works, visit https://app.bogged.finance/avax/trade

What’s next for Bogged Finance?

This release has been part of our Avalanche Expansion. So far, we have:

• Launched Avalanche $BOG Token to facilitate trading tools and bridge.
• Launched an Avalanche-BSC Bridge allowing for fast and affordable movement of funds.
• Launched stop-losses and limit orders on Avalanche
• Avalanche Chain staking

We have almost completed this expansion, with only the below tasks remaining:

• Avalanche Trailing Stop-Losses
• Avalanche Token Launch Sniper

We also have some exciting developments being made on our trading platform, with some highly-requested tools and order types being added to BSC and Avalanche, more news will be published about these shortly.

These updates, along with upcoming improvements to our charting platform will ensure Bogged Finance remains ahead of the curve in terms of DeFi trading tools.

We will also be launching a referral system, which will reward users for helping the platform grow.

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