Financial stalemateA decentralized finance project aimed at introducing traditional trading tools to decentralized cryptocurrency exchanges has recently expanded its trading suite to the Avalanche blockchain. Medium blog post..
This means that DeFi traders can use a set of familiar tools such as limit orders and stop losses when trading cryptocurrencies on the Avalanche DEX (Decentralized Exchange).
What is DeFi Trading and why do traders want a limit order for it?
Decentralized exchange trading has become popular in recent years as an alternative to traditional centralized exchange trading. Proponents of DEX claim that all transactions are more transparent and secure as they take place on the blockchain, a publicly verifiable way to prove ownership of an asset. This is different from centralized trading, where the user does not own the asset until it withdraws from the exchange.
However, decentralized trading is still in its infancy. In short, the features that were taken for granted on centralized exchanges have been missing in DeFi for some time. Bogged Finance aims to solve this problem and is very pleased with traders.
Decentralized transactions typically include “swapping” tokens. This is essentially a market order regardless of the price returned by the decentralized market maker.This may not be a problem for some traders, but many from traditional trading may prefer to use it. Limit order To have more control over their transactions.
How does DeFi limit Bogged Finance orders and stop losses?
A limit order allows a trader to buy or sell an asset at the expected price once the asset reaches its price. The main convenience of limit orders is that they are automatically filled by the trading platform without the need for regular monitoring on the part of the trader.
The decentralized solution provided by Bogged Finance works exactly this way, and this feature has been well received by traders on the BSC blockchain operated by Binance. According to a recent report, within two weeks of launch, a DeFi limit order of over $ 1 million was placed. EOY report from Bogged Finance.. To date, we have received more than 100,000 orders on BinanceSmartChain.
Stop-loss is another important tool that helps traders protect themselves from losses in the event of a market crash. According to Bogged Finance, these offer standard stop-loss and trailing stop-loss to help traders close their positions at higher prices.
Bogged Finance also offers a charting service called Bog Charts It can be used to track historical price data, as well as many centralized trading platforms.
These tools work on a number of decentralized exchanges, including: Pancake Swap When Trader Joe..
Payment Tokenization – The Future of Service Payments
An interesting aspect of Bogged Finance’s operations is how users pay for their use of the platform.Following the initiative of many other DeFi projects, Bogged Finance uses so-called governance tokens... BOG token Users can purchase through BogSwap and use it to pay for tools and participate in voting and staking programs offered by BogTools.
According to recently Press release Bogged Finance also uses this token to bridge funds between different blockchains. This means that users can easily trade on their favorite chains using Bogged Finance as a link.
With the surge in popularity of DeFi trading, there is a tremendous demand for user-friendly trading tools, and Bogged Finance definitely appears to be at the forefront of services that can offer this.
Looking for an ad? We will gladly help you disseminate information about your project, company, or service. CryptoMode creates high quality content for crypto companies. We’ve provided brand exposure to dozens of companies so far, and you can be one of them. All clients value our value / price ratio. If you have any questions, please contact us. [email protected]
