What is Bonfida exactly? You may have seen our graphical user interface (GUI) for Serum before and maybe even use our wallet. But who are we and what do we do? This blog post will explain what our goals and what we aim to accomplish.
Serum is a technological beast, it’s a decentralized exchange built on Solana. But just like the Tesseract from the Avengers, it’s powers must be harnessed and extracted in order for it to reach its full potential.
The power of the Solana blockchain allows Serum to have 100% on-chain orderbooks, lightning fast execution speeds, and extremely cheap fees. But you’ve probably heard this pitch before and we’re not here to wax lyrical about Serum. That’s for another post.
Let’s go back to the Tesseract metaphor — Serum represents potential, and it needs to be harnessed like how the Infinity Gauntlet harnesses the power of the stones. Bonfida is gauntlet. Serum is a great program but it’s Bonfida’s GUI allows users to seamlessly interact with the DEX and leverage its potential.
Thus far, Bonfida has been the first to introduce charts, market orders, and TradingView data to Serum.
We also have a backend infrastructure that stores all the transactions that happen on-chain for Serum, and this allows us to provide data through a REST API that is used by CoinMarketCap and Coingecko. Currently, we receive more than 6 million requests per day.
This data feed is used by the official Serum GUI to load historical trades for each market, meaning that each user connecting to a GUI based on the standard open source code is already using Bonfida data in the background.
Bonfida also provides valuable analytics and insights into activity on Serum — we currently measure the daily volume for the orderbook-based Serum DEX and Serum Swap, TVL, and spread in %.
We have also created Solible, an NFT exchange that leverages the power of Solana and Serum to allow for a real-time auction house.
We’re here to provide the best Serum experience and show the potential of it. We will be continuously improving on the current suite of Bonfida products, but our overarching goal here at Bonfida is to fill out the Serum ecosystem with products that are accessible and innovative. Through Serum, we will power an entire financial ecosystem that lives natively on Solana.
While we work on more exciting stuff, feel free to pop into our Discord/Telegram to chat and share ideas and feedback:
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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.