Bonfida Exclusive: September Edition
Welcome to the September Edition of the Bonfida Exclusive.
This is a monthly newsletter to keep our community informed about our recent developments and what is coming to Bonfida in the month ahead.
We aim to highlight a Key Opinion Leader (KOL) once a month and their contribution to Bonfida. This month we are reviewing exclusive articles from Benson and Woody, who are both from Taiwan and their raving reviews to their audiences about Bonfida.
Now, without further ado. Lets see what Bonfida has been up to throughout September!
(Hint — At Bonfida — We build things 👀)
Announcements / Partnerships:
Bonfida <> Binance — Closing Q3 With A Surprise
There is no doubt that our Binance listing caught everyone by surprise!
We are now listed on the largest SPOT trading exchange with all major FIDA trading pairs.
You can trade FIDA in the following markets on Binance:
USDT, BUSD, BTC & BNB.
Bonfida <> Serum — Introducing The New Serum Core
In September we were delighted to be a part of the Serum Stories newsletter. During this discussion we announced that we have been busy developing for Serum.
What is The Asset Agnostic Order Book?
The Asset Agnostic Order Book (AOB) sits at the heart of the Serum ecosystem. The on-chain central limit order book and matching engine are provided as a service to the Solana ecosystem. The AOB works behind the scenes, allowing developers to use Serum and reduce the build time of their application(s).
The AOB can be used by any Solana smart contract that needs an orderbook, outsourcing the implementation and maintenance that comes with matching buyers and sellers. Its design allows it to process trades for all applications and their order books in the network at the same time.
It makes trading easy for a wide range of use cases; including the powerful Serum decentralised exchange. Anything from options, futures, borrow/lending positions, or any financial and non-financial instrument, can also take advantage of Serum’s backend matching engine.
What is the application of AOB?
Serum Core is the Asset Agnostic Orderbook, described above. This primitive can be used by any Solana smart contract looking to use an orderbook without having to worry about re-implementing all its logic and managing cranking. Running these processes can be costly.
With AOB, Serum becomes a truly universal component usable by any protocol, derivative, spot or anything else. Developers can use it to match — NFTs or non-fungible stuff or Solana Name Service (SNS).
Perpetual Contract Trading is a great example, and AOB means that builders no longer have to try and represent complex positions via SPL tokens.
This simply means that other protocols, such as; Audaces, or Zeta or Mango Markets, can focus only on the risk and margin engines and outsource all the matching to Serum.
You can read more from our Serum Stories interview here:
Serum — Change To On-Chain Staking
Project Serum ceased on-chain staking on the 5th of October, please unstake your FIDA here: https://stake.projectserum.com/#/
For individuals who have locked FIDA rewards, they will commence unlocking from December 31st. Once they are unlocked, you can transfer them from Serum staking to your wallet.
Bonfida decided that for this month only, instead of rewards being paid out in locked and unlocked FIDA, we will reward stakers with unlocked FIDA, as a gesture to thank you for your support.
To accommodate this change, 100% of eligible fees will be allocated to the monthly Buy & Burn.
What’s New / Developments:
Our team has developed key infrastructure on the Solana blockchain this month. Let’s have a look at what they have been working on.
Solana Name Service (SNS) :
Register your .SOL Domain Name to simply send and receive payments.
Use SNS for SPL token information
Bonfida is excited to announce that the token registry for tokens on the Solana Blockchain is moving on-chain. This means tokens will need to be registered with Solana Name Service instead of the off-chain alternative, that was managed as a GitHub repository by Solana.
Resells now have a Buy Now option!
You have asked and we have listened. Resellers now have the option to set a ‘Buy Now’ option for their domain resales
Read more about this feature: https://bonfida.medium.com/introducing-buy-now-option-on-domain-resales-1bc7cf0a0b23
Give us a show of hands if you love stats!
Twitter Handles Registered: 6394 YTD
.SOL Domain Names Registered: 25865 YTD
Slope Finance now supports the @Solana Name Service on its browser extension wallet.
Solflare wallet now supports the Solana Name Service.
Audaces V2 is coming — Prepare Yourself
Exceeding Over $100,000,000 USDC Inception Volume!
Hosting A UI:
Interested in hosting an Audaces UI? You can earn up to 10% of all fees for all orders processed through your URL.
For more information visit: https://docs.bonfida.org/help/audaces-perpetuals/host-a-ui
Monthly Buy & Burn
24,990 $FIDA removed from circulation in September. 🔥
The Wolfpack — Bonfida Ambassador Program
The Bonfida Wolfpack is a dynamic community that embarks on a journey each month to complete given tasks.
At the end of each month the Top-5 wolves are rewarded in FIDA.
Interested in becoming a part of this community?
Find out more here: https://t.co/060TMkoPJY?amp=1
Bonfida <> Orca — Introducing Liquidity Pools
Orca has created its FIDA/SOL liquidity pool. Users can now deposit their FIDA to earn a variable APY per year.
Visit Orca for more information: https://www.orca.so/pools
Monthly KOL Spotlight:
Taiwanese KOL Benson wrote a raving review of Bonfida, following the listing announcement from Binance, and shared it within his community group; Benson’s Trading Desk.
Here’s the English Translation
Benson’s Trading Desk: Binance lists FIDA today:
FIDA is the second SPL token after Ray to be listed on Binance. One of the main focuses of Bonfida is the perpetual swap. Given the current market focus on DYDX and Perpetual Protocol, Bonfida may stand out and win more recognition as a derivative DEX on Solana.
Personally I have spoken to the team a couple of times. The team is very hardcore, especially with rapid developments of different products. Besides perpetual swap, another focus of Bonfida is Solana Name Service, which is a stable cash flow business and a smart move. In general, I have faith in this project.
Another review from Taiwanese KOL Woody also wrote an introduction article of Bonfida to capture the recent progress made by the team.
His review states that Bonfida is one of the earliest projects built on Solana, and is the second project to be listed on Binance. This is a comprehensive summary of products and services provided by Bonfida as well as its recent progress and updates. Key products include Solana Name Service, the first perpetual swap Audaces, and Bonfida Bots. Currently the team is working on building a brand new matching engine for Serum — The Asset Agonostic Orderbook.
You can view Woody’s full review here: https://woodytsai168.medium.com/bonfida-%E7%A5%9E%E8%A1%8C%E7%99%BE%E8%AE%8A%E7%9A%84sol%E6%97%97%E8%89%A6%E5%89%8D%E7%AB%AF-486224b92952
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None of the above is financial advice.
Bonfida does not provide services to personal accounts of current residents of the United States of America, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, or Antigua and Barbuda.
FIDA is not offered within the United States or prohibited jurisdiction.
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Follow us on our socials to keep up to date on any announcements.
TG Announcements: http://t.me/BonfidaANN
Price Chat: https://t.me/FIDAtrading
Chinese Chat: https://t.me/bonfidacn