Solana and Serum bridge Bonfida to conduct a three-part IEO
Bonfida, a full product suite bridging the gap between Solana, Serum, and the user is conducting a three-part initial exchange offering (IEO) with up to 6 million $FIDA tokens up for grabs.
Bonfida, according to its announcement, is the first project on Serum to raise funds via a token sale. The crowdfunding campaign is part of Bonfida’s plan to perfect and grow the Serum ecosystem.
Bonfida and the three-part IEO
The first part of the exchange will be hosted on the cryptocurrency derivatives platform FTX, which has the backing of leading exchange Binance and industry liquidity provider Alameda Research.The IEO which starts on December 12, is open to FTX account holders who have submitted the platform’s required KYC level 2.
The exchange has placed caveats on the IEO as the token sale is open to traders with a 30-day volume of $50,000 or 1,000 FTT tokens - the utility tokens of the FTX ecosystem - staked. Traders can bid $FIDA tokens worth between 150 USDT and 200 USDT.
Excited to announce our next IEO! We are pleased to be hosting the launch of $FIDA - @bonfida's (https://t.co/IbsVsT1rni) native token on December 17th, 9am SGT.
How to participate: https://t.co/uhvYaYJUlX pic.twitter.com/EGYgKFwUrf— FTX - Built By Traders, For Traders (@FTX_Official) December 13, 2020
Global digital asset trading platform BitMax will add support for $FIDA tokens on December 17. The new listing will trade under the pair FIDA/USDT.
The initial phase sees the exchange allowing FIDA token deposits, followed by the ability to trade and withdraw the tokens on December 22.
BitMAX is conducting a standard auction starting on December 17 with 2 million $FIDA tokens at stake. 500 winners will each pocket a tranche of 4,000 $FIDA tokens.
Details of the third part of the IEO which will be done on Serum are to be announced.
What is Bonfida?
Serum is a decentralized exchange (DEX) built on a blockchain known as Solana. While the power of Solana blockchain allows Serum to execute fast transactions, it needs a bridge to improve its efficiency. Bonfida represents that bridge.Thanks to Bonfida, Serum now has charts, TradingView, and market orders on its platform.
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