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Token Launch Sniper - What is it and how to use it

Token Launch Sniper - What is it and how to use it

Our Token Launch Sniper automates the entire process of getting a buy in as early as possible.

August 10, 2021

Warning: The Token Launch Sniper is a pro tool which carries considerable risk. The outcome of a snipe is completely dependent on the contract being sniped and market conditions, both of which are completely out of the control of BogTools. Always do your own research and snipe at your own risk.

Note that this article covers the use of the Basic Token Sniper.

What is the Token Launch Sniper?

If you've participated in DeFi token launches before, you'll likely know that the profit potential for early buyers can be massive. Prices can soar to the tens or hundreds of percent above launch price within minutes thanks to the buy pressure that a well-publicised launch generates.

So obviously, the earlier you get in, the better chance of getting a great-value entry. However, waiting anxiously by your computer to place an order the moment trading begins can only get you so far. You end up getting held back by your own reaction time, internet speeds and mis-clicks.

Our Token Launch Sniper automates the entire process of getting a buy in as early as possible.

How does it work?

Typically, to allow token trading on a pair, the team will add liquidity to the pool at a predetermined time, typically called a “launch”

The Sniper waits for this transaction to be submitted to the blockchain, then submits a buy order in the second block after launch, typically before any manual buys have a chance to get in. It is then up to the user to sell at a time that suits their particular trading strategy.

Please note that a purchase within block 2 is not guaranteed. While the BogTools team does their utmost to stay ahead of anti-bot measures, sometimes these can prevent or heavily tax an early buy. BSC congestion can also impede buys, and “honeypot” contracts can prevent selling after the buy. It is up to the user to do their research into the contract that they’re sniping, but by following these ground rules they should be able to enjoy successful snipes.

How do I use it?

The sniper interface

The UI for the Token Launch Sniper is extremely simple. To use, simply input the contract address you wish to snipe, and the amount of BNB you wish to snipe with. If you’re only getting started, we suggest only using a small amount to get used to the features. Then you’ll need to connect your wallet, and pre-approve any tokens you’ll be swapping. Note that you will also need $12 USD worth of BNB to cover the sniper fee, which is used to pay for the high gas needed to place the early order.

Your input BNB is then sent to our Sniper Smart Contract, which listens for the liquidity addition event. If your snipe is successful, the contract will send back your expected tokens. If your snipe is cancelled by you, or cannot execute due to an issue with sending the buy TX, then your BNB (minus the fee) will be returned in full. This refund does not cover malicious contracts, honeypots, rugs or anti-bot measures.

Once you’ve received your tokens, it’ll be up to you to use an exit strategy, whether that be selling at the top of the launch pump, or holding your tokens long-term. You’ll need to use a swap Interface (such as bogged.finance/swap) or a limit sell (bogged.finance/trade)

If you’re planning on selling at the top of the launch pump, we suggest monitoring our real-time charts using the “Single Blocks” feature on charts.bogged.finance. This will show you the most accurate and up-to-date real time plot.

What is priority?

You might have noticed that the Token Launch Sniper mentions “priority”. Popular launches may have many BogTools snipers pointed at them, so we use priority to determine who gets to submit a buy first. Essentially, the more $BOG you hold, the further up the list you are. If you have over 7500 priority, you also get to avail of a lower $7.50.

So now you’re ready to snipe. Stay vigilant, do your research and you should reap the rewards. Good luck!