Bonfida bridges the gap between Serum, Solana, and the user. It is the flagship Serum GUI and brinsg Solana Data analytics to the field. Bonfida 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.
Bonfida Coin is built by the Bonfida Foundation. They are a group of experts in cryptocurrencies, analytics and engineering. The main expertise lies in front, backend and blockchain development, as well as community building and customer service.
When Bonfida Coin saw what Serum was building on Solana they dug deep and realized that here was the chance to participate in a financial revolution. They knew the 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.
The believe 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 – Bonfida aims to be that by opening Serum to the world.
FIDA is anticipated to hold the following utility:
• 95% of the net fees on Bonfida will be governed by the FIDA token and could be used for buy/burns, etc. • FIDA will be used transactionally for: – Access to the VIP API – Bonfida Bots – Bonfida DEX and Solible listings with market making services – Whitelabels and consulting services
FIDA staking will grant its holders: – Exclusive API endpoints and lower latency – Access to rare Solible markets – Advanced analytics
Bonfida Coin 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. Bonfida 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, Bonfida aims to achieve the following.
Exclusive markets and listing
Bonfida Coin 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 Bonfida has built strategic relationships with including Alameda Research.
On-chain Advanced order types
Currently there are only two order types: limit and market. Bonfida will develop take profit and stop loss orders on Serum. They will offer on chain and off chain advanced order types and both will require users to stake FIDA in order to get access to this feature.
Bonfida Coin has built a backend infrastructure that stores all the transactions that happen on-chain for Serum. This allows us 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 us 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 Bonfida data in the background. This has allowed us to provide on chain TradingView charts, a feature that is unique to Bonfida and that other competitors cannot copy.
Bonfida will continue development of this API to deliver data to all of customers; with the objective of leveraging this data through our GUI in order to provide the best UX and UI.
Bonfida will also work to bridge the gap between web 2.0 and the Solana blockchain by developing an order placement API for Serum. This order placement API will require people to stake FIDA.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.