Bonfida, a decentralized trustless exchange powered by the Solana blockchain and built on the open-source Serum trading protocol, launched in December of last year and has seen a 20 percent surge following the news of Binance listing.
Bonfida (FIDA) product suite, a complete product suite bridging the gap between the growing user base actively trading in Serum, Solana, and Serum DEX, was created with three main objectives targeting the future of decentralized finance (DeFi) in the Solana region.
These three goals, which were also mentioned in the Binance announcement, are:
“Bonfida is an ecosystem built on Solana and includes products such as:
It’s a permanent on-chain swap.
Solana name service for bidding and transacting with readable Solana addresses.
Bonfida Bots that allow users to automate their trading strategies and perform copy-trading on Serum DEX.”
In addition, FIDA tokens offer value accruals, betting rewards and fee reductions to their holders.
Bonfida rose nearly 20 percent from $5.54 to $6.59 after Wednesday’s announcement, according to CoinGecko, and is trading at $6.06, up 8 percent at the time of writing.
Bonfida; He also explains how it interacts with Serum, a Solana-based decentralized exchange whose native token is SRM, which describes itself as permissionless, high-speed and low-cost:
“Serum is a technological beast, but to reach its full potential, its powers must be harnessed and extracted from the deep.
Bonfida’s GUI allows users to seamlessly interact with the DEX and maximize its potential. Bonfida was the first to bring charts, charts, market orders and TradingView data to Serum.”
According to the project’s website, Bonfida also has multiple partners, including AKG Venture, Fisher8, CMT Digital and Three Arrows Capital, indicating that there are market participants who support the project and believe it has a future.
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