Exchange Bonfida (FIDA)

Bonfida is a cryptocurrency project that primarily focuses on providing decentralized trading and liquidity solutions for the Solana blockchain ecosystem. Solana is a high-performance blockchain known for its fast transaction speeds and low fees, making it a popular choice for various DeFi (Decentralized Finance) applications and projects.

Bonfida gained momentum when it was endorsed by SBF (Sam Bankman-Fried) and his team. Sam Bankman-Fried is a well-known (now scandalously) figure in the cryptocurrency and blockchain space, and he is the founder and CEO of FTX, a prominent cryptocurrency exchange. FTX has been actively involved in the development of the Solana ecosystem, and Bonfida is one of the projects associated with it.

They have made significant contributions to the Solana ecosystem, such as developing the Asset Agnostic Orderbook (AOB), a new Serum Core engine, streamlining Solana Name Service transactions, and introducing Audaces, the first perpetual swap on Solana. These accomplishments have earned their developers great respect within the Solana community.

Bonfida is dedicated to a straightforward yet ambitious objective: to improve the Solana blockchain experience for all its users by offering a range of products and services.

Bonfida offers several products and services within the Solana ecosystem, including:

• Serum DEX: Bonfida is closely associated with Serum, a decentralized exchange (DEX) built on the Solana blockchain. Serum is known for its speed and low fees, and it aims to provide a seamless trading experience for users. Bonfida plays a role in Serum's development and liquidity provision.
• Bonfida Exchange: Bonfida has its own decentralized exchange platform where users can trade various cryptocurrencies and assets on the Solana blockchain. It aims to provide a user-friendly interface for trading and access to a wide range of assets.
• Serum Analytics: Bonfida provides analytics tools and data services for traders and investors interested in Serum DEX and other Solana-based assets. These tools help users make informed trading decisions by providing real-time data and insights.

FIDA is the native utility token of the Bonfida platform. It can be used for various purposes within the ecosystem, including staking, governance, and trading fee discounts. The FIDA token is seamlessly integrated into the Bonfida platform, with governance authority vested in FIDA token holders. Furthermore, a substantial 95% of the transaction fees collected on the platform are directed by FIDA, either for burning or repurchasing purposes. 

Additionally, staking FIDA tokens grants holders access to Solible markets and advanced analytical tools. Solible, a marketplace for non-fungible tokens (NFTs) on the Solana blockchain, empowers users to craft personalized NFTs. Solible's overarching vision revolves around establishing an on-chain e-commerce platform where individuals can purchase premium redeemable products.

A significant portion of the transaction fees generated on the platform are used for burning or repurchasing FIDA tokens, which can contribute to token scarcity and potentially impact its value.

FIDA has a maximum supply of 1,000,000,000 FIDA, a total supply of 998,729,964, and as of September 27, 2023, the circulating supply is 44,729,964 FIDA. 

Average Fees on the Bonfida Network

The fee structure for using Bonfida's services, including its decentralized exchange (DEX) and related platforms, includes trading fees, withdrawal fees, and other potential fees. Specific fee rates may vary depending on market conditions and the evolution of the platform. 

The fees associated with FIDA tokens, including trading fees and other transaction-related fees, are typically separate from Solana network fees. FIDA is an asset native to the Solana blockchain, but it operates within the Bonfida ecosystem, which may have its own fee structure for using its decentralized exchange (DEX) and related services.

While the Solana blockchain does have its own transaction fees for sending tokens and interacting with smart contracts, the fees specific to FIDA and the Bonfida platform would be determined by Bonfida itself. These fees might include trading fees (fees incurred when buying or selling FIDA or other assets on the Bonfida DEX), withdrawal fees, staking fees, and any other fees associated with using the platform's features.

Bonfida Token Wallets

FIDA tokens are native to the Solana blockchain, so you can store them in wallets that support Solana-based tokens, including Solana, Solfare, Phantom, Math Wallet, Sollet, Exodus, Coinbase, MyEtherWallet, Atomic Wallet, Ledger Live, Coin98 Wallet, Trust Wallet.