• Bonfida offers various products including (1) an on-chain perpetual swap; (2) Solana name service for auctioning and transacting readable Solana addresses; and (3) Bonfida Bots which allow users to automate trading strategies and do copy-trading on Serum DEX. All three products and their revenues accrue value to the FIDA token.

  • FIDA is the native token of the platform, used for the following functions:

    • Value accrual: A percentage of fees generated from Bonfida products (Perpetual Swap, Name Services, Bonfida Bot) will be used to buy and burn FIDA.

    • Staking rewards: Users will receive FIDA as a reward by staking their FIDA tokens.

    • Fee discounts: Users can enjoy tiered discounts on platform fees for products such as perpetual swap and name services, based on the amount of FIDA held.

    • Governance: Token holders will be able to submit and vote on governance proposals to influence the platform development and treasury management. The governance function is expected to go live around Q1-Q2 2022.

  • The protocol consists of the following major components working in conjunction:

    • Perpetual swap: The Audaces Protocol is the first perpetual futures protocol built on Solana.

    • Name services: Solana name service provides a decentralized and affordable way to map domain names (.sol) to on-chain.

    • Bonfida bot: The service utilizes smart contracts to automate trading strategies and copy trading on top of Serum DEX, and supports TradingView features.

  • As at September 30th 2021, the maximum token supply of FIDA is 100,000,000. The total token supply is 998,908,948 and the circulating supply is 44,899,752 (~4.50% of the total token supply).

  • Learn more about the token distribution here.