$FIDA
🤔What is FIDA Coin and What is it Still Used For?
FIDA Coin is the main token of the Bonfida project built on Solana. Previously, the Solana Name Service (.sol domains) was part of this project, but it has since separated and operates independently under the name SNS.
So, what is FIDA used for now?
What Does Bonfida Do?
Bonfida is a Web3 platform that provides a user interface for Serum DEX, API services, trading bots, and other DeFi tools.
Fee Discount – FIDA is used to get discounts on transaction fees.
Token Burning – FIDA tokens are bought back from the market and burned using platform revenue.
Premium Features – FIDA is required to access APIs and tools.
Governance – FIDA holders can participate in platform governance decisions.
So, If SNS Separated, What Happens to FIDA?
Yes, SNS now manages .sol domains. However, Bonfida is still active, and FIDA remains its main token.
😎Conclusion: While FIDA Coin is no longer tied to .sol domains, it remains functional and valuable within the Bonfida ecosystem and Web3 tools. Its potential is far from lost!
