Introduction to DeFi stop-losses on Bogged
Bogged are proud to be DeFi’s first providers of stop-losses. Since launch, we have been continuously improving on features, aiming to give our users an experience that is as easy to understand and use as possible, without compromising on advanced functionality.
Bogged DeFi Stop Losses use an innovative contract and execution model which allows for Trustless Stop Losses. As with Bogged Limit Orders, stop-losses are completely automatic and cloud-based, meaning users do not need to keep their devices switched on or download any software.
Currently, Bogged stop-losses work on BNB Chain, Avalanche, Cronos and Fantom, with further expansion planned for the near future.
Stop-losses require traders to hold a certain amount of BOG token in their wallet to use. As with all our products that require BOG holdings, once the order is completed users can sell or hold their BOG as they please.
- Wallet must hold 100 BOG
- Each order costs $2.50 of BOG or $3.00 of native token (AVAX, BNB, FTM etc) to cover network costs
👉 See the next section for a quick introduction to the concept of a stop-loss order