Bonfida (FIDA): Establishing Your Identity in the Web3 World

An on-chain identity is a unique way to identify yourself as you interact with decentralized apps (DApps). Not only does an on-chain identity allow you to transact in a decentralized and permissionless way, but it’s also your gateway to systems such as decentralized autonomous organizations (DAOs), where you can use it to influence governance.

To facilitate the creation and use of human-readable on-chain identities, Bonfida has built a blockchain-based identity infrastructure on Solana (SOL) that’s home to the Solana Name Service (SNS). Users can access various web3 name service components. Furthermore, Bonfida has integrated the Wormhole bridge to enhance the interoperability of domain names across different web3 platforms.

Let’s look at Bonfida and its innovative approach to helping you build an on-chain reputation.

Key Takeaways:

• Bonfida, rebranded as Solana Name Service (SNS), provides a unique approach to web3 digital identities for transacting on Solana and other chains through the use of human-readable domain names.

• Bonfida has integrated with Wormhole to ensure interoperability of its domain names across multiple blockchains and web3 platforms.

• Solana Name Service's native token, FIDA, is a utility token that presents holders with multiple privileges, and will eventually include governance power. FIDA is available as a Perpetual contract on Bybit’s Innovation Zone.