Bonfida (FIDA)

What is Bonfida (FIDA)?

Bonfida has been built on the Solana Network with the aim to showcase what can be done on one of the strongest performing blockchain available on the open markets. The Bonfida ecosystem is a collection of products encompassing all facets of the blockchain experience. Some functions provided through the network include a Name Service, Perpetuals, Buy & Burn, Staking, Jabber, Token Vesting and features allowing Bot Trading.

Unique domains through the Name Service permits simplifying transferring assets. This can be used to send funds to the domain instead of a long alphanumeric wallet address. The mission of implementing this feature within the platform is so they may provide a decentralised and affordable way to map domain names, such as .sol, to on-chain data. The platform holds features to explore and purchase their favourite domains through a bidding service. Those who already own domains will be able to monetise these and auction them off. Further to domains, Bonfida will provide services for user to convert their wallet address with their Twitter handle, making transferring funds even easier.

Buy and Burn is another feature provided by the network, all decentralised and permissionless. All fees associated with this are pooled that can only be used to either buy FIDA or Burn FIDA. Anyone can make a pool for the purchase of buying or burning FIDA, all occurring on the FIDA/USDC Serum Market.

Staking is also available through FIDA. Customers may stake FIDA to receive gFIDA, proportionally to the stake period and the number of tokens deposited. GFida is the Governance tokens to the Bonfida DAO. Staking rewards like many platforms, are derived from the staking contract, earning a portion of the daily network fees generated from all network protocols.

The protocol has been said to be the first SPL token investing contract to be audited. It has been stated on the site that any user of the network can create a vesting contract, all that is required is to mint the SPL token, use a token address that will deposit the tokens in the smart contract, the tokens address of the receiver, along with the vesting schedules.

Bonfida Partners

Bonfida has made many connections within the crypto space, creating a whole ecosystem of partners to begin creating usability to the network. Partners to the network includes A.K.G Venture, Alameda Research, Resident Pet, CMS, CMTdigital, Divergence, Evernew Capital, FBG Capital, Fisher8, Folkvang, Genesis Block, Kenetic, Koinbros, Mgnr, Nibbio, Serum Stakers, Sino Global Capital, Spartan and Three Arrows Capital.

Roadmap

Q4 – 2020 – Bonfida Perform IEO with FTX & BitMax & SERUM Platforms, $4.5m Raised in Seed Funding, First Initial SERUM Offering (ISO), Introduction to the Ecosystem Pool, 2nd Offering of VC Pools.

Q1 – 2021 – First Buy/Burn Completed, Introduction of FTX Leveraged and Volatility Tokens, New Markets RSR, COMP, 1Inch, GRT, PAXG and TRYB on Bonfida, FTX list Pool Tokens SECO and HOLY, Support Added for the Kin Ecosystem Wallet, Launch of MAPS.ME, JABBER to Integrate, FIDA integrates with LiveCoinWatch, PERPS Market Added, AMM Raydium joins the Ecosystem, Oxygen IDO on SERUM, Bonfida BOTS Launched, SERUM Dex V3 Upgrade.

Q2 – 2021 – MACD Trading on Bonfida Bots, Bonfida and SERUM Bot Trading Live, Compendium Finance Join the Ecosystem, Synthetify joins VC Pool.

Q3 – 2021– AMA on Telegram, Trading Competition, Community Call, Buyback and Token Burn, AMA on Discord, Listing on AEX, MAPS Pool Unlocked and Initialised, Listing on XT.Com, Listing on Bitrue, On-chain Perpetual Futures Launched, Partnership with 3Commas.io.

Q4 – 2021 – FIDA Listed on Binance, Solana Name Service, Serum Updates to On-Chain Staking, On-Chain Messaging added to Solana Name Service, Completion of Solrise Competition, Grape Integrates to the Network, First On-chain AMA completed, MathWallet Integrates to Solana Name Service, Coin98 Integrates to ecosystem.

Q1 – 2022 – Audaces v2.0 Launched, Partnership with DigitalEyes, Partnership with PIP, Sponsorship of Solana’s Riptide Hackathon.

Where to Store Bonfida (FIDA)?

Bonfida (FIDA) is built upon the Solana Network so coins may be held within a compatible Solana wallet. As a result and providing the wallet service supports Bonfida FIDA), you will be able to store and interact with these tokens. Check out our Wallet Guides to find a wallet suitable for you.

Where to Buy and Sell Bonfida (FIDA)?

You can Buy and Sell Bonfida (FIDA) over on our platform by navigating over to our ‘Buy Coins ’ page. Bonfida (FIDA) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying FIDA has never been easier, simply place your order and provide your wallet address. Once your payment arrives, FIDA will be sent directly to your wallet. If you choose to Sell Bonfida (FIDA), you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the Sell Coins page.

Bonfida (FIDA) Resources

Websites: https://bonfida.org/#/

Block Explorer: https://explorer.solana.com/address/EchesyfXePKdLtoiZSL8pBe8Myagyy8ZRqsACNCFGnvp

Twitter: https://twitter.com/bonfida

Medium: https://bonfida.medium.com/

Forum: https://forum.bonfida.org/

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.