FIDA Coin is the utility & governance token of the Bonfida platform, which is built on the Solana blockchain. Recently, it has been rebranded as the Solana Name Service (SNS).
🧠 What is Bonfida / Solana Name Service (FIDA)?
Bonfida is a platform on the Solana blockchain that provides DeFi and data tools. It built the UI, API, and data analytics for the Serum decentralized exchange.
SNS introduces a decentralized name service, allowing SOL addresses to be converted into human-readable domain names.
In late 2025, Bonfida was rebranded as Solana Name Service (SNS), and the token contract was also updated.
🔗 Use Cases of FIDA Tokens
Can be used to pay transaction fees on the blockchain and to reward LPs/validators.
Staking allows users to earn passive income. Depending on staking tiers, transaction fees may be discounted.
Through governance voting, holders can vote on future platform developments.
Can be used as a setting fee in NFT marketplaces.
Cross-chain swap facilities are being developed.
📊 Tokenomics
Total supply: 1,000,000,000 FIDA tokens
Circulating supply: ~990 million
Token distribution:
Bonfida reserve – ~15%
Staking & liquidity rewards – ~35%
Team – ~20%
Community / partnerships – ~10%
Early investors & advisors – ~20%
Liquidity/public sale – centrally allocated
A token burning mechanism is in place, where a portion of platform fees is burned.
💵 Past Performance & Outlook
All-time high (ATH): ~$59.60 (Nov 3, 2021, around 3 years ago)
Current price: ~0.1 USD (a drop of ~99% from ATH)
All-time low (ATL): ~$0.0527 (around June 22, 2025)
Some investors express concerns such as insufficient NFT usage or user adoption, inflation risks due to the token release schedule, and other factors—topics that are often discussed in foreign Reddit threads.
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