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What is Bonfida (FIDA)?

Discover the key facts about Bonfida (FIDA).

What is Bonfida (FIDA)?

Bonfida is an ecosystem of products and solutions for the Solana blockchain. The Bonfida ecosystem is the home of the Solana Name Service, and it uses the FIDA token as its exclusive currency. 

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About Bonfida

Bonfida was built on the Serum trading protocol and serves the wider Solana blockchain ecosystem. Bonfida provides a variety of products and services, including the Solana Name Service, which allows users to replace decentralized addresses with the domain name of their choice. Overall, Bonfida aims to showcase what can be accomplished with the Solana blockchain.

How FIDA Works 

FIDA is the native token of the Bonfida ecosystem and helps improve user experience. Most of the FIDA tokens are locked long-term and there is a limited amount of supply. 

The FIDA token governs 95% of net fees on Bonfida and can be used to carry out transactions. By staking FIDA, users gain access to the Solible NFT marketplace listings as well as advanced market analytics. The token will also likely be used as a governance token to allow holders to vote on certain parameters for Bonfida.

FIDA can be purchased from numerous leading cryptocurrency exchanges.

Can I Donate FIDA to Charity?

Donating cryptocurrency is a highly tax-efficient form of giving that also supports mainstream crypto adoption. Even donating a small portion of your crypto can make a major difference in helping a cause that you’re passionate about.

While The Giving Block previously supported FIDA donations, it does not do so currently, though it may in the future. 

Looking for more information about donating cryptocurrencies to charity? Subscribe to The Giving Block’s email newsletter for weekly updates on Crypto Philanthropy and other top trends in modern charitable giving.

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