Bonfida Raises $4.5m in Seed Round

The Bonfida team is proud to announce that we’ve recently closed $4.5M in a seed round led by CMS Holdings with participation from Three Arrows Capital, Spartan Group, Genesis Block Ventures, Sino Global Capital, Fisher8 Capital, FBG Capital, and Prophet Capital. The round came together in under two weeks.

Currently Bonfida sits as the flagship GUI for Serum — a decentralized exchange built on the Solana blockchain. Over 60% of users that interact with Serum currently do so through Bonfida’s GUI. Bonfida has been the first to introduce TradingView charts that represent actual on-chain data from Serum, market orders, and exotic products like FTX’s Leveraged Tokens and US 2020 Presidential Election Tokens. The Bonfida team will also be expanding their product offerings with FTX’s BVOL and IBVOL tokens.

Bonfida’s API for Serum is also the first of its kind and is used today by entities such as CoinGecko and CoinMarketCap — the API reportedly receives over 7 million requests daily.

Beyond building on the current suite of Bonfida products, the team will be committing resources from the raise to increase their product offerings by working on an options platform and prediction markets.

During the seed round Bonfida has also formed advisory relationships with entities such as Alameda Research (market-making for tokens listed through Bonfida), QCP Capital (for developing options and betting markets), and Sino Global Capital (for Business Development issues in China). Sam Bankman Fried and Jason Choi of Spartan Group will also be sitting on the advisory board.

The IEO for Bonfida’s native token FIDA is set to be on the 17th of December, conducted through FTX and BitMax. The Initial Serum Offering (ISO) is set to be on the 22nd of December.