What Is Bonfida (FIDA)?

What Is Bonfida (FIDA)? Complete Guide Review About Bonfida.

What Is Bonfida (FIDA)?

Bonfida is the full product suite that bridges the gap between Serum, Solana and the user. They are the flagship Serum GUI and bring first of its kind Solana data analytics to the field. Your API is used by some of the largest market makers in the space and has seen a growth of requests of 25% week over week. This will allow users to automate their strategies with technical indicators and earn revenue by selling subscriptions for FIDA.

Already used by Coingecko, Coinmarketcap and some of the largest market makers in the space, FIDA API will continue to expand its offering to provide connected users a CEX like experience. FIDA will give traders the best functionality and experience
maintaining its place as the most used Serum DEX, including a builtin wallet, starter SOL airdrops, and more.

Bonfida Storage Key Points

Coin BasicInformation
Coin NameBonfida
Short NameFIDA
Circulating Supply44,729,963.60 FIDA
Total Supply998,729,964
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Why build Bonfida on Serum?

When FIDA saw what Serum was building on Solana they dug deep and realized that here was the chance to participate in a financial revolution. This knew your domain expertise was in creating a seamless frontend experience combined with backend API’s and on-chain analytics. This presented the perfect opportunity to be an early participant in an ecosystem they believe will grow to power large real world applications in a decentralized and composable way.

They believe your decision is perfectly explained and validated in An Ultimate Vision for Serum released by the Project Serum advisors. But how do you get there? You need to first achieve a very different sort of consensus a Schelling point of sorts – FIDA aims to be that by opening Serum to the world.

The ecosystem is growing quickly

Bonfida meets these criteria. It can handle 50k TPS right now; scales with Moore’s law; and has a detailed set of plans that could get another factor of 10 over the next couple years in throughput by optimizing various parts of the system. It’s gas is cheap, too. Serum presents a path towards adoption. Already, it has the world’s most powerful fully on-chain DEX, and the ecosystem is growing quickly. Behind the scenes, applications with combined hundreds of millions of users are working on it. The building has started.”

FIDA

The Tokens shall be considered to be “unlocked” as follows: (a) up to and including the one-year anniversary of the purchase Date, no tokens will be unlocked; and (b) starting on the one-year anniversary of the purchase date and ending on the fourth (4) anniversary of the purchase date, the tokens shall be unlocked on a linear basis beginning with 0% Unlocked on the one-year anniversary of the purchase date and ending with 100% unlocked on the four-year anniversary of the purchase date.

Bonfida Serum GUI

The goal for Bonfida is to remain as the flagship Serum GUI. FIDA is currently the best GUI because it provides the features Serum users ask for and has the best UX/UI. In order to grow its user base, FIDA aims to achieve the following. FIDA will list exclusive markets on Serum, the listings will be governed by the community of FIDA holders. The liquidity will be brought by the market makers that FIDA has built strategic relationships with including Alameda Research.

Serum API

Bonfida has built a backend infrastructure that stores all the transactions that happen on-chain for Serum. This allows to provide data through a REST API that is used by CMC and Coingecko and gets more than 6 million requests per day. However, most importantly this allows to provide a better UX. For example this is used by the official Serum GUI to load historical trades for each market; this means that each user connecting to a GUI based on the standard open source code is actually using FIDA data in the background. This has allowed to provide on chain Trading View charts, a feature that is unique to FIDA and that other competitors cannot copy.