Bonfida: Solves a gap in the Dex space

Since the start of DEFI wave, the DEX field represented by Uniswap has become the core of DEFI track. Take Solana, the popular public chain as an example, the development speed of SERUM in its DEX field is far beyond imagination. In less than half a year, SERUM has grown from zero to a daily trading volume of $50 million to a total trading volume of over $2 billion.

The wealth effect of Dex is an important factor in attracting external traffic, but is the current Dex ready to handle millions of traffic? Especially when TradingView has become a necessary tool for almost all traders and Social Trading has become popular in centralized exchanges, there seems to be no product in the DEFI world that can adapt to these user habits.

Bonfida found and filled that gap.

DEX Solana

When faced with a brand new application, Internet Generation users need only two things: convenience and simplicity. Bonfida is a perfect fit for Defi users who will soon be streaming in from the Internet.

For the emerging public chain represented by Solana, the transaction volume of Solana can reach 50,000 transactions per second. Meanwhile, the transaction fee is almost negligible. The total transaction fee is $10 per million transactions on average, which means that the average cost of each transaction is only $0.00001. New users can be almost insensitive to fees while performing as well as a centralized application.

The decentralized exchange SERUM, based on Solana, offers a richer financial ecosystem, including mainstream DEFI applications such as lending and trading, which is currently the best choice for new users without a foundation.

SERUM's user-friendly front end

Founded in 2011 as an investor community and chart site known to almost all professional investors, TradingView has reached 1 million monthly active users five years after its launch.

Not only the traditional financial market, but also the mainstream cryptocurrency trading platform has long integrated TradingView, and it has become the habit of traders to use the TradingView tool.

Looking at all SERUM frontiers, including those made by SERUM itself, only Bonfida has integrated the TradingView function at present.

Thus, with Bonfida, we can see that users can seamlessly use SERUM DEX in the same way as with a centralized trading platform. Users can place orders based on charts and draw lines in the charts, functions that were not possible in the previous DEX.

In addition to integrating TradingView, Bonfida has also built its own 2B application.

As for 2B, Bonfida has built its SERUM API to store all trading data on SERUM chain, which has been widely used by B-end applications such as Coingecko and CoinMarketCap, as well as by market makers of Dex.

Programmed trading robots

Social Trading has developed in the traditional field for nearly a hundred years. From Livermore, a "master of stock", to Etoro, a top Trading platform, and Snowball in China, Social Trading has long been deeply rooted in people's hearts. Investors have a need to observe what others are doing and imitate them.

As a form of Trading, Social Trading enables investors to observe the Trading behaviors of peers and professional traders and follow their strategies by following orders. Investors need little or no financial knowledge to operate.

However, in the cryptocurrency industry, only a few centralized Trading platforms such as eToro provide the service of Social Trading.

The programmed Trading robot provided by Bonfida is another innovation of Social Trading in the DEX field.

On the Bonfida platform, investors can also choose to follow a policy, and after the creator of the policy sets the price of the subscription to use the policy, the user forms a subscription based on the pool token.

Taking Kol Benson's "Sentiment Strategy Pro" as an example, the robot uses market Sentiment to aggregate spot and contract trading data across platforms such as Binance, Coinbase, BitMex, Bybit, and FTX. Get long when the market is fearful and get out when the market is optimistic.

Users can add liquidity through direct deposit into a pool token, similar to that in DEFI. Currently, there are 859 USDC and 0.7 BTC in this strategy. The pool token is up 3.48%, and a fee of 0.2% is paid every 30 days.

In addition to Benson's strategy, Bonfidabot also lists overseas quantitative team ComendiumFi's BTC/USDT, SOL/USDT trading strategy, and more. In the future, Bonfida will launch the first perpetual contract agreement on the Solana chain, with options and structured product agreements to be integrated to provide Bonfidabot with more diverse options.

Team also said that "based on Solana decentralized ecological system highly transparent and without centralized hosting features, users can fully back to see all the history of public policy. No matter the user set up their own trading strategy, or subscribe to the strategy of others, can be one hundred percent of their assets management."

FIDA tokens,

As the value circulation within Bonfida ecology, Fida has a total of 1 billion pieces, of which 90 million are seed rounds, accounting for 9%. It is linearly unlocked within 1-4 years. 20 million, or 2 per cent, were for liquidity provision; Pre-sale of 6 million pieces, accounting for 0.6%; There are 100 million pieces handed over to eCoserum nodes as SRM income, of which 80 million pieces are locked in warehouse and linear unlocked in 1-4 years. 100 million coins will be held by Bonfida contributors and teams as prizes, allowances, and will be linearly unlocked for 1-4 years. The remaining shares will be jointly managed by Bonfida and the Fida Foundation, as well as Bonfida Ecology in the future.

The value of FIDA is also supported by the Bonfida ecosystem, which is used for trading, pledging and other applications.

Ninety-five percent of Bonfida's net fee is used to buy back and destroy Fida tokens, which can be used in ecological scenarios such as gaining access to VIP APIs. In addition, future holders of FIDA can also enjoy the reduction of fees for a perpetual contract. In addition, FIDA can be pledged on the SERUM platform, and 10% of the monthly repurchase destruction will be used to reward FIDA pledge users.

In the new public chain, the outbreak of Solana ecology is not to be underestimated. Solana quickly found its new position by relying on its operational strategy. The emergence of Defi applications such as Maps. Bonfida was one of those who brought new traffic from the Internet to Defi.

Bonfida became a public offering of FTX, a popular cryptocurrency exchange, in December after completing a $4.5 million seed round led by CMS Holdings.

In the Solana ecosystem, new users are directly faced with a new DEFI application that is habitually friendly to Internet users, such as Bonfida. The integrated, one-stop Bonfida not only optimizes SERUM's front end, It also provides applications of TradingView and Social Trading that have not been integrated in the field of Dex at present. As an important part of Solana ecology, Bonfida may really become a dark horse in Solana ecology.

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