An introduction to $BOG, BogTools and the Bogged Ecosystem
The Bogged Token
The Bogged Token, $BOG, and associated contract are the key to the Bogged Ecosystem. All components of the Bogged ecosystem are unlocked through use of the $BOG Token.
Initial Supply of 2,500,000 BOG.
0.1% of all transactions are burnt, decreasing total supply.
4.4% is redistributed to LP Stakers, increasing TVL.
Initial liquidity has been locked for 6 Months minimum.
Once the BogTools begin shipping and the ecosystem is growing organically based on use of BogTools, the transaction fees mentioned above will be removed, and the staker rewards will be replaced with fees from the usage and deployment of BogTools.
While many tokens claim to be community run, Bogged has the rails built in to enable community governance. The BogTools Fees are modifiable and once enough holders are reached we will move to using a Governance Contract that will allow the token holders to vote on any changes.
BogTools are deployable individual contracts on BSC that connect to hooks built into the Bogged Transaction System, allowing for code to be executed as transactions are made with $BOG.
As BOG transaction volume increases the BogTools contracts will get closer and closer to running on the blockchain 24/7 – BOG is unique in that it is the first ever implementation of such a system.
BogTools can currently only be created by the team. However, there will be interfaces built to the BogTools Standard that allow deploying BogTools to perform tasks on the blockchain, similar to Uniswap/Pancakeswap pair factories.
The first such publicly deployable BogTool is On-Chain Historical Price Oracles.
On-Chain Historical Price Oracles
Oracles on Bogged allow you to get any information on the Binance Smart Chain, in an on-chain, decentralised and frequently updated manner.
This is achieved by deploying a BogTool contract which is able to record and store the price of any asset-pair whenever a $BOG transaction occurs.
They can then be used to access reliable current & historical data.
We have a simple implementation of this on our website in the form of a price tracker. This also leads us into our next formal product announcement, BogCharts.
As all our early adopters know, it is very hard to get a price chart early on in a tokens lifetime, despite it being potentially crucial for the confidence of the early investors. The main BSC charting websites are centralized, not always up to date, and very often require you to hold a substantial balance of their tokens to view the charts.
The first BogTool product we are announcing to make use of our On-Chain price oracles is BogCharts which will be targeted towards developers of brand new coins who are not able to use any centralised services for price charting.
This will take the form of a deployable On-Chain BogTool Oracle to monitor the price of their token, paired with a UI package for charting the oracle data that they are able to self-host on their token website.
These deployable oracles will cost an ongoing $BOG fee to use, depending on price accumulation period and other factors. This fee will be fed back into the BOG ecosystem.
Allowing contracts to effectively run constantly on the blockchain without any off-chain input allows for some interesting fully-decentralised possibilities.
One example of this would be limit orders and stop losses for Pancakeswap.
Another would be automatically tethering up when whales move large amounts into exchanges.
Our current focus will be expanding on the Oracles and allowing people to deploy their own, and we can’t wait to see what people will build upon these. After this we will visit some of the other possibilities.
In addition to the BogTools Ecosystem, we continue to build out the Entertainment portion of the Bogged ARG. With new upgrades, gamification, and more to keep users and holders engaged with the protocol.
Bogged Alternate Reality Game
Stage 2 for the Bogged ARG involves the release of the Sminem Token. Users will be able to claim Sminem by staking their Bogged LP for 24 hours, from the Sminem Pool.
The Sminem Release will take advantage of BogTools by removing the existing $NGMI BogTools contract to replace it with a new $NGMI contract which fits into the new rules of the Bogged ARG.
Sminem allows users to avoid receiving $NGMI when selling $BOG on pancakeswap, a useless curse-token that is untransferable. This is done at risk of losing the Sminem to death (burnt) or the pool, where he will be claimed by another user.
We feel the ARG is an exciting and innovative way of maintaining our userbase as we deploy our technology to the Binance Smart Chain. The Bogged ARG is an optional part of the Bogged ecosystem, that we are still very much committed to. The ARG incentivises users to make transactions in $BOG which is beneficial to the ecosystem as more transactions provide more computing power to the BogTools contracts.