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FIDA and BETA tokens are available on Binance – Market Wrap

 Binance announced that it would list Bonfida (FIDA) tokens. Today, the world’s major crypto exchange platform plans to open trading for FIDA/BNB, FIDA/BTC, FIDA/USDT, and FIDA/BUSD trading pairs.

 Bonfida is a promising ecosystem that consists of various products. Built on Solana blockchain, it offers customers an on-chain perpetual swap; Bonfida Bots which allows investors to automate trading strategies and do copy-trading on Serum DEX; and Solana name services for both auctioning and transacting readable Solana addresses. FIDA is the native utility token of the Bonfida platform. All products and their fees accrue value to this token. Furthermore, owners can use FIDA for fee discounts, governance, and as staking rewards.

 The founder team decided to build FIDA on Serum due to the platform’s great potential. They believe that becoming part of Serum will give FIDA the chance to participate in a financial revolution. The company plans to create a seamless frontend experience and combine it with backend APIs and on-chain analytics. That will give Bonfida an excellent opportunity to become an early participant in an ecosystem it believes will grow to power large real-world applications in a composable and decentralized way.

 The Project Serum advisors already published their Ultimate Vision for Serum, highlighting all the advantages this network offers. However, to realize these goals, first, Serum needs to gain more users worldwide. Bonfida decided to aid the platform in that.  

 While Defi has the potential to reach 1 billion users and $10T of on-chain value, it needs some improvements to operate on that level. For instance, the blockchains should be able to process tens of thousands of trades per second, as well as hundreds of thousands of orders per second. Gas costs should be less than $0.001 and scaling with the world should be available.

 

Does Solana meet the criteria? 

 According to the team, the blockchain’s throughput must grow with the world’s technological growth. The Defi platforms should also have the ability to process all submissions on a human-reaction-time scale. Moreover, the ability to be decentralized and open is crucial. Solana meets all these criteria. Currently, it can handle 50k TPS. The platform has a detailed set of plans that could get another factor of 10 during the next couple of years in throughput by optimizing various parts of the system. It also scales with Moore’s law, and its gas is cheap, which is a great benefit, considering the soaring fees users have to contend with. 

Serum essentially presents a perfect path towards adoption. It already boasts the world’s most powerful fully on-chain DEX. Besides, its ecosystem is growing quickly.

 

How can token holders get profit from FIDA tokens? 

SafeDancer token's ICO got high-ranking. Why's that?  FIDA is the first and foremost utility token. On the Bonfida platform, it will govern 95% of the net fees. Token holders can use FIDA for buy/burns, as well as transactions. Users owning this token will get access to the VIP API, Bonfida DEX, and Solible listings with market-making services, Bonfida Bots, Whitelabels, and consulting services.

 Customers staking FIDA will get various rewards, including exclusive API endpoints and lower latency, access to rare Solible markets, and advanced analytics. The company may also include a limited governance model based on the FIDA token. However, it also warned that it might change some parameters, including product fees, through FIDA tokens’ governance vote.

 The FIDA tokens’ maximum supply is 1,000,000,000. The company will use 9% for Locked Seed sales, 2% will go to liquidity, IEO will take 0.6% (unlocked), while 10% will go to EcoSerum. The team will reserve another 10% of FIDA for Bonfida contributors and employees. The company and the FIDA Foundation will use the rest of the amount to further the Bonfida ecosystem (1-4 years locked).

 

What about Serum API?

The team has built a backend infrastructure that stores all the transactions happening on-chain for Serum. That allows the company to provide data through a REST API (Coingecko and CMC also use this API) and gets more than 6 million requests per day. Furthermore, it allows Bonfida to provide a better UX for its clients.

 The official Serum GUI uses the same system to load historical trades for each market. As a result, each customer connecting to a GUI based on the standard open-source code is using Bonfida data in the background. Thanks to that, the company can now provide on-chain TradingView charts. That feature is unique to the Bonfida platform, and other competitors cannot copy it. 

Bonfida plans to continue the development of this API to deliver data to all of its customers. The company will leverage this data through its GUI in order to provide the best UX and UI. In addition, it will work to bridge the gap between the Solana blockchain and web 2.0 by developing an order placement API for Serum. However, order placement API will require users to stake FIDA. Thus, the team will build custom endpoints for people staking more than X amount of FIDA to provide easy access to on-chain data.

 Bonfida will also offer white label and consulting services for customers who want to get started on Serum but don’t have the experience to develop their own infrastructure.

Investors can also buy Beta Finance on Binance  

Binance launched its 21st project, Beta Finance (BETA), on its Launchpad. According to the exchange, the BETA token’s sale will follow the Launchpad subscription format. The user BNB balances’ recording started today. 

The exchange plans to record user BNB balances for eight days. The process started on September 30, 2021, and it will end on October 8, 2021. The company will determine the final BNB holding amount for each customer by calculating the average of the eight days. It will use the Daily Average BNB Balance calculation.

 The total supply of BETA tokens is 1,000,000,000. However, Binance only allocated 5% (50,000,000 BETA) of the total token supply on its Launchpad. During the public sale, the token price will be 0.06 USD per BETA.

 

Axie Dai will launch its native token soon

 Axie Dai platform is built on Binance Smart Chain (BSC). It combines node infrastructure, staking, and Defi, enabling users to develop and earn money easily. The company created its native utility token AD, which is integrated into the Bitcoin system. Customers can use it on all platforms. Furthermore, they can buy and rent anything with this coin in real life.

 Axie Dai plans to launch its ICO on October 11, 2021. The sale will end on October 13, 2021. According to the team, the token price will be 0.1 USD per AD during the initial coin offering. The total supply is 100.000.000 ADs, but not all of them will be available in the first stage. The platform will accept ETH, BNB, USDT, and BUSD in exchange for its native coins.

 Axie Dai offers many interesting features. The company will integrate its portal with investment control, recycling, and spending areas. Furthermore, it has built a unified infrastructure with the blockchain system, aiming to protect the privacy of investments and payments. The team works hard to offer its users top-notch security.

 Axie Dai also focuses on marketing, along with community growth and development. After the coin’s release, the company will strengthen its communication with companies and make agreements. It also plans to burn AD tokens in trades to increase the value of the token continuously. Overall, Axie Dai has solid potential to succeed, and its token is currently one of the highest-ranking ICOs on the various listing platforms.

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