In this article we’ll explore BogSwap, a DEX (Decentralised Exchange) Aggregator that’s available on the Cronos Chain. Read on to find out how it works, and how you can benefit from using it, whether you’re a DeFi Trader, Token Team member or DEX manager.
DeFi trading has exploded in popularity recently, with traders using Cronos DEXes such as MM Finance, CronaSwap, VVS Finance and CRODEX to trade tokenized cryptocurrencies. Trading on decentralised exchanges has some major advantages over traditional centralised trading. For example, traders retain full ownership of their tokens when trading on DEXes, and the decentralised nature of the blockchain means that traders will always have access to their funds, they cannot be frozen or withdrawn by exchanges.
Examples of well known DEXes on Cronos include:
- MM Finance
- VVS Finance
A demand for DEX aggregators has been created due to the vast amount of DEXes that are now available. Using a DEX aggregator such as BogSwap by Bogged Finance means users can avail of cheaper trades and a unified experience no matter what DEX they’re trading on. DEXes themselves also benefit from aggregators, as they receive trading volume from a variety of users outside their ecosystem.
What is BogSwap?
BogSwap aggregates all supported DEXes behind one simple UI. Traders can choose any input token in their wallet, and use it to purchase any token available on BogSwap’s DEXes. BogSwap then finds the best available liquidity pools for the trade and submits the order to the blockchain.
As well as being a portal for traders to access markets on major Cronos DEXes, BogSwap also intelligently routes trades through these to find the best available price.
But doesn’t a token always trade at the same price wherever you buy it? How does BogSwap get cheaper trades?
The same token on different DEXes almost always differs in price. One place you can see this is on coinmarketcap.com which lists trading prices on different exchanges.
Consider the fact that each DEX is an individual market. Purchases made on one DEX will affect only the liquidity pool(and therefore price) in that DEX. As a result there may be a temporary price difference between DEXes until arbitrage evens the price out.
Example; a token is trading with equal liquidity pools (meaning equal price) on DEXes A & B. Traders buy a large amount of tokens on exchange A. The price on A rises drastically as a result, but B will take some time to catch up until arbitrage trades can fill in the gap. BogSwap takes advantage of this difference, and automatically routes trades through the cheaper DEX.
It does this by scanning possible transaction routes through different liquidity pools. For example, a trade from CRO to wBTC.e may route as follows: CRO -> USDT.e -> wBTC.e. It only chooses the most affordable route, and traders are not charged for this, nor are any extra gas fees taken. BogSwap is completely free.
BogSwap currently supports 8 Cronos DEXes
- MM Finance
You can try BogSwap on Cronos by visiting app.bogged.finance/cro/swap
What else can BogSwap do?
BogSwap isn’t just an aggregator, it also has many other advanced features.
AutoTax “Slippage” is the term used to describe the allowable tolerance of price movement between submitting and executing a trade. However, token-specific trading fees can push the cost of the transaction above the selected slippage, causing hassle for traders. AutoTax automatically detects any token taxes and adds this to the trade’s specified slippage.
Friendly Errors In case there’s an issue prior to submitting a transaction, BogSwap will send user-readable errors to the wallet interface, meaning traders can quickly get to the bottom of any problems.
Multi Tx Submit more than one transaction when making a swap. Useful for certain trading strategies and avoiding TX limits.
Token Pre-Approval Approve a token before liquidity is added, perfect for getting early buys on a token.
Faster Swaps BogSwap has many under-the-hood features making it much faster than competing aggregators, in fact trades can be as quick as on a DEX’s interface.
Pre-set gas Lock in your required GWEI before making a trade, through an easy to understand interface which intelligently adjusts to current chain congestion.
10 chains and 50+ DEXes BogSwap also supports trading on many other major chains, including Binance Smart Chain, Polygon, Avalanche and more.
Trusted by users BogSwap has routed over $200M of trades monthly across all supported chains.
All in all, BogSwap offers many competitive advantages to simply using a DEX Swap. And with absolutely no fees or extra charges, why not give it a go right now?
Simply head on to app.bogged.finance/cro/swap and enter your desired DeFi tokens!
How does BogSwap benefit Cronos DEXes and token project teams?
To encourage growth across the ecosystem, BogSwap has been designed to benefit those who create token-based projects and support liquidity in DeFi trading.
Token Team Benefits:
- Simple to use interface to make buying as easy as possible for new users.
- BogSwap can be embedded directly into your website for free.
- Your users get the best price while all of your LP pools get utilised, ensuring your LP providers get rewarded equally.
- Linking to BogSwap + BogCharts pages will boost your tokens rankings in Trending Tokens, making it visible to almost 3 million monthly visitors
If you’re a token team leader and would like to find out more about how Bogged Finance and BogSwap can work for you, visit charts.bogged.finance/tools, or feel free to drop in to our dedicated token team Telegram on t.me/BOGforTokenTeams
BogSwap automatically routes our thousands of daily users and almost $300M monthly volume through the current cheapest DEX.
- Your volume could increase drastically after listing on BOGSwap
- New traders will be exposed to your DEX, increasing liquidity rewards for your users
If you’re a DEX operator and would like to get involved with BogSwap, then drop Bogged Finane a message on our dedicated telegram group: https://t.me/BOGforTokenTeams