Bogtools: Deployable Smart Contracting Oracles with contract execution functionality, powered by the Binance Smart Chain.

What is Bogtools?

Bogtools is a BEP-20 smart contract which provides on-chain oracles for quick observation of events on the BSC blockchain, coupled with code execution potential on every transaction of our governance token, BOG.  Bogtools are external contracts which hook into BOG transactions, and can perform various actions based on the information they observe.

Examples of different Bogtools?

Right now, and in the coming days and weeks, the team will begin deploying several different Bogtools as proof-of-concepts.  Different tools are able to interact with each other as well as transactions of the BOG token.  Some of the tools that are planned for upcoming release include:

BogCharts: using oracles to provide live price updates for any BEP-20 token, the feeds and charts of which can be presented on any website.  Current charting solutions on BSC lag behind the true price, and many require purchase of tokens to view.  With BogCharts, chart deployers will pay a fee in order to establish the Bogtool for their coin, shifting the price off of retail investors and allowing quicker and more widespread access to price updates.

BogLimit: The on-chain oracles will, for a small fee, allow users to place limit orders on Pancakeswap and other BEP-20 DEXes.  These orders execute in the same transaction as the oracle price updates, so limit orders can be fulfilled as soon as the token price reaches the designated amount unlike other solutions which may miss out on orders if the transaction cannot be submitted & mined in time.

ARG: Bogtools allows gamification of any token by executing code on the blockchain.  BEP-20 token creators will be able to add interesting and exciting game elements to their transactions.  Bogged, their proof-of-concept ARG, has already had its first and second phases deployed, which involve an ancillary token (NGMI) that is sent to sellers of BOG, as well as Sminem, a tradeable, customizable NFT which prevents accumulation of NGMI tokens.  Further phases of the ARG will involve both of these tokens and more game elements.

NFT Marketplace: providing a space for NFTs—optionally customizable—to be produced and traded.  These NFTs not only have speculative value, but can use Bogtools to interact with other tokens and NFTs.  Our first NFT set, Sminem, has already been distributed, and further sets are in the works.  These NFTs use Bogtools to execute contracts for potential gamification and other features which produce use value.  For example, certain NFTs could give discounts on a product, give access to exclusive areas of a website, or allow owners to purchase other, rarer NFTs or tokens.

BogRNG: Verifiable random number generation using a cryptographically secure off-chain function, which will be sent to the oracle when a user requests randomness.  The off-chain oracle will callback the requester with the random number, wherein it can be hashed and compared with the number already stored on-chain to ensure the random number has not been manipulated in response to the users request.  This can be used for many scenarios: ARGs, casino games, lotteries, and more.

Tokenomics:

Initial supply 2,500,000 BOG.  Current supply is about 2,400,000 BOG, with 2,000 current holders.

Currently the tokenomic model includes a 4.5% fee on all transactions, 4.4% of which is distributed proportionally to liquidity providers, and the other 0.1% of which is burned.  As Bogtools are deployed, transaction fees will be reduced and the liquidity staking rewards will instead come from our fees to Bogtools deployers.  In order to ensure long-term survival of the coin, the 0.1% burn will be further reduced, eventually to 0.

In order to prevent blockchain lag and large transaction fees, the team will be deploying a load balancer to ensure that Bogtool executions are spread across transactions and the gas prices do not rise to untenable amounts.