Bonfida

Bonfida

FIDA
$0.29184417%-2.51

Key Metrics

Price$0.29184417
Real Volume (24H)$3,430,938.32
Marketcap$37,262,427.92
Fully Diluted Valuation$100,000,000
ATH$18.77
ATH Date11/3/2021, 11:34:33 PM
ATL$0.113165
ATL Date12/22/2020, 1:58:52 PM
Circulating Supply60M
Total Supply1B
Popularity Rank803
Chart
What is Bonfida?

The Bonfida platform aims to build a suite of products that bring users closer to the ecosystem of Solana, a blockchain network. At the core of its offerings is Serum GUI, which provides first-of-its-kind Solana data analytics to users. This emerging ecosystem involves every aspect of Solana's blockchain technology.

FIDA is the native token of the Bonfida platform, which aims to provide solutions for a decentralized name service and a platform for NFT exchange on Solana. It is also used to vote on the future of the protocol.

Bonfida offers a decentralized name service with unique domain names on Solana, which allows users to register, collect, and sell their domain names. Its on-chain messaging app, Jabber, is encrypted and created on Solana.

The platform also offers a permissionless and decentralized burn and purchase strategy. The burning process takes out tokens from the available supply, which reduces the quantity in circulation to increase the value of each token. Bonfida has built a backend infrastructure to store every transaction taking place on Serum.

FIDA is wholly incorporated into the Bonfida platform, with governance power lying with the FIDA token holders. 95% of transaction fees acquired on the platform are administered by FIDA, used for burning or repurchasing purposes. The staking of FIDA tokens enables token holders to access Solible markets and enhanced analytics. Solible is a marketplace for NFTs on the Solana blockchain, which allows users to build customizable NFTs. Solible's vision is to create an e-commerce store for people to purchase high-end redeemable products on-chain.

The Bonfida platform was created by the Bonfida Foundation, which comprises experts from the fields of engineering, analytics, and cryptocurrencies. The maximum total supply of FIDA tokens is one billion.

In conclusion, the Bonfida token (FIDA) plays a vital role in governing the Bonfida platform, which aims to provide users with a suite of products to interact with the Solana blockchain ecosystem. From a Solana data analytics tool to a decentralized name service and NFT exchange platform, Bonfida offers a range of features and functionalities for users to explore. With the FIDA token, users can vote on the future of the protocol, stake their tokens to access enhanced analytics, and benefit from the burn and repurchase strategy employed by the platform. As the cryptocurrency and DeFi industries continue to grow and evolve, the Bonfida platform and FIDA token have the potential to play an increasingly important role in this exciting new landscape.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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