Here's a concise overview of FIDA (formerly Bonfida)—also known as the Solana Name Service (SNS) token:
What is FIDA?
FIDA is the native utility and governance token of the Bonfida ecosystem, which has recently rebranded as the Solana Name Service (SNS). Built on the Solana blockchain, this ecosystem delivers a suite of tools bridging Serum DEX and user-friendly interfaces, enhancing accessibility and transactional efficiency.
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Key Features & Use Cases
Name Service & Identity: SNS lets users register human-readable .sol domains to replace complex wallet addresses—making blockchain identity more intuitive.
Bonfida Ecosystem Tools: Includes advanced tools like a DEX interface, analytics, TradingView charting, Solible NFT marketplace, Bonfida Bots for automated trading, and perpetual swap functionality.
Token Utility:
Used to pay fees, access VIP APIs, and power query bots and consulting services.
Grants governance rights—enabling holders to vote on listings, protocols, and domain registrations.
Offers staking rewards, potential fee discounts, and access to premium services like NFT listings and advanced analytics.
Token burn mechanisms are in place to help sustain value over time.
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Token Stats & Market Snapshot
Supply: Circulating supply is approximately 990 million, with a max cap near 1 billion FIDA tokens.
Current Price: Roughly $0.10–$0.11 USD.
Market Cap: Around $100 million USD based on real-time valuations.
Historical High/Low:
All-time high was $9–$10, achieved in late 2021—a significant drop from the current price.
Recent all-time low occurred mid-2025 at around $0.052, with current prices up ~85%.
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Summary
FIDA stands out as the backbone token for Solana’s identity layer and wider ecosystem utility. From decentralized domain naming to advanced trading infrastructure, the token supports governance, staking, fee incentives, and more. While its valuation has dipped far from its early peak, it remains integral to SNS and the broader DeFi infrastructure on Solana.
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If you’d like a deeper dive into FIDA's tokenomics, staking mechanisms, or recent developments, feel free to let me know!
